Bezos declares Amazon Prime has 100M members

Amazon Prime Reaches 100 Million Member Milestone Here's What It Means For The Stock

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.

Amazon says its median employee pay was $28,446 previous year. Now analysts can stop scratching their heads, or at least less so as we still don't know exactly how many Prime Members there are and it could be a while again until Bezos talks on it.

The positive response from Wall Street seems to resonate with investors as shares edge closer to new highs.

Bezos also confirmed Wednesday that Amazon expects Prime to soon be a factor in its Whole Foods grocery stores, after the e-commerce company acquired the brick-and-mortar chain for $13.7 billion past year (http://www.marketwatch.com/story/amazon-to-buy-whole-foods-for-137-billion-2017-06-16-91035726).

Subscribers to Amazon's Prime service bought more than 5 billion items a year ago.

"2017 was our best year yet for hardware sales", Bezos wrote.

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The other was that more than half of the stuff sold on Amazon in 2017 came from third-party sellers, not Amazon.

Members who subscribe to Amazon Prime receive the main perk of getting free two-day shipping on eligible Amazon.com purchases.

Amazon offers Prime service in cities in nine countries. Once they have access to Prime Video, they have less incentive to sign up for other streaming video offerings. Previously, Amazon vaguely referred to having "tens of millions of members". The move has been expected since the deal closed, and anticipation was heightened after (http://www.marketwatch.com/story/whole-foods-to-end-rewards-program-suggesting-it-will-be-folded-into-amazon-prime-2018-04-17) Whole Foods loyalty program members received letters saying the program will be discontinued May 2.

In comparison, Apple Music has over 40 million subscribers, Netflix has 125 million, Hulu Plus has 17 million, and Spotify has over 71 million paying subscribers. Aside from the statistics, which are telling of Amazon's fast-growing success, the letter is also a great glimpse into the richest man in the world's mindset.

By that metric, Amazon's disparity between CEO and average worker pay stood at 59-to-1, a relatively narrow gap. Amazon expanded Prime to Mexico, Singapore, the Netherlands and Luxembourg in 2017, Bezos said. Shares have gained 30.6% so far this year, while the S&P 500 index has gained 1.2%.

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