Bezos says that 2017 was Prime's best year yet with more new members joining than ever before. Additionally, while Bezos mentioned Amazon Fashion in the shareholder letter, he didn't mention how many people have used the recently launched Prime Wardrobe service. The number of members now paying for an Amazon Prime subscription is over 100 million, meaning that over 100 million people around the world are also subscribed to Amazon Prime Music - Amazon's stripped back music streaming service packaged with Prime.
Prime members pay a monthly fee of $12.99 or an annual fee of $99, and receive access to free two-day shipping, free same-day delivery and Prime Video streaming, among other program benefits. "Amazon Music Unlimited, our on-demand, ad-free offering, expanded to more than 30 new countries in 2017, and membership has more than doubled over the past six months". "Prime selection in India now includes more than 40 million local products from third-party sellers, and Prime Video is investing in India original video content in a big way, including two recent premieres and over a dozen new shows in production".
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. Still, Amazon stopped short of full disclosure of its Prime subscriber service, like how much revenue it generates. "Amazon continues to have an "iron grip" on the e-commerce market heading into the rest of 2018 despite a clear bullseye on its back from retailers around the world including [Walmart] as well as the Trump crosshairs in the background", writes Ives, who maintains a Highly Attractive rating and a $1,850 price target.
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To achieve this, Bezos lays out his "four elements of high standards". Bring a new person onto a high standards team, and they'll quickly adapt. The number is over 100 million, and before now the online retail giant offered up only vague descriptions like "growing", and "best year ever".
Amazon has begun to make its physical presence known, buying the Whole Foods Market Inc grocery chain previous year and opening more than a dozen bookstores.
In another first, the company disclosed the median annual pay for Amazon workers other than Bezos, which was US$28,446, reflecting the large number of retail and warehouse employees on staff.