The 100 Million Club: Putting Amazon's Prime Memberships In Perspective

The 100 Million Club: Putting Amazon's Prime Memberships In Perspective

The 100 Million Club: Putting Amazon's Prime Memberships In Perspective

Amazon Prime service has over 100 million subscribers, is what Amazon CEO and founder Jeff Bezos has revealed in his annual shareholders letter. If, over the long run, Amazon decides to club all these services under a common Prime subscription fee (it already clubs most of them), then this figure will be almost the same as the average Prime subscription fee per member. As per Entrackr's estimate based on industry sources, there are about 10 million Amazon Prime users in the country.

Amazon was started during the year 2005, and Amazon Prime was the basic offering.

Bezos added that Amazon's "core values and approach remain unchanged" and that retailer continues "to aspire to be Earth's most customer-centric company".

He was bullish on the prospects for Amazon Prime in India. Amazon reported this number for the first time under a new requirement that companies disclose the gap between pay for the rank-and-file and the person in the corner office. In the United Stated, Prime subscriptions cost $99 and it offers fast delivery, free shipping as well as online access to movies and television shows.

Wednesday's letter to shareholders also mentioned that the company's smart speaker products have also been selling well.

Last year, Amazon added more Prime members than ever before, shipping more than five billion items through the paid membership service worldwide, Bezos added. "And while I certainly can't do a handstand myself, I'm extremely proud to share some of the milestones we hit last year, each of which represents the fruition of many years of collective effort", said Bezos.

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The fees are just one way that Amazon makes money off of the program.

Jeff Bezos started with customer validation and shared how Amazon has been ranked on the top by its customers but is also the best place to work.

He then writes about how high standards play a huge role in accomplishing this goal, although the company has gone through ups and downs. It also accounts for the most positive index points in an otherwise lackluster day for the S&P 500, which fell 15.51 points to close at 2,693.13.

Bezos urged his team to be realistic saying that "unrealistic beliefs on scope - often hidden and undiscussed - kill high standards".

Apple, Inc. (NASDAQ: AAPL) took only about four years to sell 100 million iPhones after launching the groundbreaking device back in 2007.

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