Market Overview

Amazon Prime Membership Has Almost Doubled Since 2015

Amazon Prime Membership Has Almost Doubled Since 2015
Related AMZN
Analyst: Why Choose Between Sirius XM And Liberty SiriusXM When You Can Buy Both?
Amazon's Pharma Aspirations: Cowen Finds No New License Applications
Bloomberg: Facebook won't bid on Thursday night NFL (Seeking Alpha)

The surge in popularity over the years of, Inc. (NASDAQ: AMZN)'s Prime membership program has proven to be a successful one for the company, Statista reported.

Amazon's Prime membership kicked off back in 2005 for a yearly cost of $79 but has since been raised to its current annual fee $99. Over the same time, Prime members have been treated to many perks, including speedy delivery, video and music streaming platforms, photo storage and more.

Amazon doesn't disclose the exact number of Prime members on its platform, but a recent estimate from Consumer Intelligence Research Partners pegs the number at 90 million, Statista said. This represents an almost two-fold increase from just March 2015 when there were just 47 million members on the platform.

Infographic: Amazon Nearly Doubles U.S. Prime Members in Two Years | Statista You will find more statistics at Statista

More importantly, a Prime membership is intended to create loyal customers to Amazon's platform which in turn results in consumers spending more money. And it works as on average, a Prime member spends $1,300 a year on Amazon compared to $700 for non-members. This may explain why Amazon is eager to continue adding benefits to a Prime member since the $600 spending difference multiplied by an estimated 90 million Prime users is no doubt a lot of money.

Related Links:

Amazon's 'Secret Sauce' Earns It A New Buy Rating From Wall Street

UBS Revisits The Amazon Ecosystem, Raises Price Target On Stock To $1,200


Image Credit: By Paul Sladen (Own work) [CC0], via Wikimedia Commons

Posted-In: Amazon Prime Statista Streaming music streaming videoTech Media Best of Benzinga


Related Articles (AMZN)

View Comments and Join the Discussion!