With 90 million subscribers, Amazon Prime might be one of Jeff Bezos' best ideas yet
Under Amazon's massive umbrella of businesses lies Amazon Prime, the paid membership program that provides members with access to a laundry list of benefits including free two-day shipping and unlimited access to Prime Video and Music. Since it first launched in 2005, the service has grown in leaps and bounds and successfully created a loyal customer base. According to Consumer Intelligence Research Partners estimates charted here by Statista, Amazon Prime gained 25 million paying members in only a year.
CIRP also estimated that 63% of all Amazon customers are Prime members. Given that Prime members spend more on average than non-members ($1,300 a year versus $700 for non-members), this is great news for Amazon. The list of perks continues to add up, and in September 2017, 95% of Prime members reported they had no plans to cancel their membership.