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Amazon Prime Hits 85 Million Members Milestone

Prime membership has surged 35% over the last year

   

Amazon.com, Inc. (NASDAQ:AMZN) has reached the elusive figure of 85 million members on its Prime service.

Amazon PrimeThe Consumer Intelligence Research Partners (CIRP) determined that the company has just over 85 million members at the end of June 30, 2017, which is a 35% membership hike compared to 63 million members it had at the end of June 2016.

The year before that, Amazon Prime only had 40 million members, meaning its subscription service with free two-day shipping and other exclusive deals has been a hit with consumers.

Earlier this year, the company announced that it raked in $6.4 billion from “retail subscription services,” which likely applies to Prime. The company does not give out exact membership numbers for the service.

At the time, other analysts took this estimate to mean that the company has between 65 million and 80 million subscribers in Prime.

We’re also only a few days away from Amazon Prime Day, which is on Tuesday, July 11. The e-commerce retailer is advertising the day as having Epic Day Deals, with offers beginning the previous night–at 9 p.m. ET.

Some of the offers that you can access ahead of time include watching your first Prime video on your TV in exchange for $10 to spend on Prime Day. Movies will only be $4.99 or less, while rentals will be 99 cents.

AMZN stock grew 1.5% Friday.


Article printed from InvestorPlace Media, http://investorplace.com/2017/07/amazon-prime-amazon-com-inc/.

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