Amazon is fastest growing marketplace in India, says Jeff Bezos

Amazon chief Jeff Bezos has revealed in his yearly shareholders letter that Prime now has 100 million members, which he partly attributes to continuing content expansion. This is the first time time in Amazon's 13-year history that the company has given the details about its Prime membership, and the total number of subscribers.

Amazon has revealed that it has more than 100 million subscribers to its Prime service, which bundles free shipping with video and music streaming services and other perks to keep shoppers locked into its brand.

The mobile shopping app was also one of the most downloaded shopping apps in India, according to App Annie, Bezos said.

All those factors have helped make give Amazon a market value about $740 billion.

With Prime memberships priced at $99, Amazon clearly has a steady and growing stream of income coming in.

The streaming site has 125 million worldwide subscribers who, on average, pay about $120 annually.

In a letter that stressed on building a culture of high standards to be able to build better products and services for customers, Bezos shared some of the milestones achieved by the company globally.

Bezos noted more than 5 billion items were shipped worldwide using Amazon Prime in 2017, which was first announced in January. The Amazon Prime, meanwhile, is a fully paid service so you can safely say that it has over 10X more paying and premium users compared to Hotstar.

For years, Amazon has refused to disclose the size of its Prime membership. Amazon reportedly paid $50 million to stream National Football League games, meaning it cost them about $2.78 for each viewer. With its new emerging products such as Appstore, Amazon Echo, Amazon Kindle, Amazon Prime, Amazon Video, Amazon music much needed in the developing internet world, Amazon withholds a strong place in the competitive retail market in the U.S. and many developed and developing countries.

There are 560,000 Amazon employees.

Although, he adds, it is "Prime Video [that] continues to drive Prime member adoption and retention".

  • Zachary Reyes