Bezos declares Amazon Prime has 100M members

Bezos declares Amazon Prime has 100M members

As for sales of some of Amazon's other heavily promoted products and services, Bezos remained typically vague.

New Prime subscriptions show no signs of slowing down, however, with a record number of new members joining in 2017, both in the US and around the world.

In a letter to shareholders, Jeff Bezos, Amazon.com CEO, detailed highlights of the 2017 fiscal year, and revealed that the company has exceeded 100 million paid Prime memberships worldwide just 13 years after the program's launch. Thirteen of Cardi B's tracks are now on the list, surpassing Beyoncé's 12 with the release if her album "Lemonade" back in 2016.

Bezos's annual letter has special importance because investors aren't drawn to Amazon for its profits.

For a consumer-friendly Amazon, the achievement is a "material positive" as Prime members spend almost double that of a nonmember each year, wrote Aegis Capital analyst Victor Anthony.

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Once members have access to free shipping, they immediately begin ordering more on Amazon and less elsewhere. Bezos's comments show that Seattle-based company is selling Prime memberships overseas, demonstrating it can replicate its US success abroad, said RJ Hottovy, an analyst at Morningstar Inc.

The company on Wednesday also announced a collaboration with United States consumer electronics retail chain Best Buy Co to sell Toshiba and Insignia "smart" Amazon Fire televisions infused with Alexa. He also spent a fair amount of space philosophizing about teamwork, vision and high standards.

Bezos also revealed how 2017 has been its best year ever.

"They are teachable, they are domain specific, you must recognize them, and you must explicitly coach realistic scope", Bezos wrote, CNBC reports. They're investing instead in Bezos's ability to push into new markets and find fresh sources of revenue, which jumped 31 per cent previous year to US$178 billion. For instance, Amazon has and offers a highly successful cloud computing service, electronics (like the aforementioned smart speakers and tablets), groceries (both in-store and delivery) and, of course, video streaming, among many others. The figure included $81,840 in salary and $1.6 million for the cost of "security arrangements". Amazon is on pace to "own roughly half of US commerce spending" by 2019, Ives said in a note on the company today. That would come out to about the same as last year's median pay.

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