Amazon Prime has over 100 million subscribers worldwide, Amazon CEO Jeff Bezos said on Wednesday, marking the first time that the company has disclosed such detailed information about its increasingly important subscription service.
The high in subscriptions at Prime, launched 13 year ago, was among milestones from last year shared by Bezos in the letter, a copy of which was filed with USA securities regulators. Now we know how big a competitor Amazon really is in the streaming video and music market.
For the first time in the 13 years since its launch, Amazon has put a specific number on its Prime subscriber count.
The big news on Thursday morning is that Amazon.com, Inc.
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But while Amazon Prime took a bit longer to reach the 100 million mark than its tech peers mentioned above, the road to 100 million was a lot longer from some non-tech companies. Moody's guess last summer, based on an evaluation of demographic data, was closer to 50 million, well below Costco's of 86.7 million members.
Amazon likes to boast about its prowess in job creation, and the company's workforce has exploded in recent years. Previously, Amazon vaguely referred to having "tens of millions of members".
In the past an analyst has suggested that companies such as Apple should consider launching more subscription-based services for both hardware and software. Amazon is on pace to "own roughly half of USA commerce spending" by 2019, Ives said in a note on the company today. Morningstar Inc. analyst RJ Hottovy says that while Amazon is losing money on global investments, success with Prime will make investors more patient with the e-commerce giant.
"It has become a golden ticket for Amazon", he said. The letter is the founder's opportunity to underline his long-term strategy for investors, seeking to bolster their confidence as he continues to plow Amazon's money into expanding internationally, building a brick-and-mortar presence, and inventing new products like Echo speakers and the Alexa voice-activated digital assistant. Only Apple, at about $900 billion, and Google's corporate parent, at about $745 billion, are now worth more.
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