Amazon CEO Jeff Bezos Releases Annual Shareholder's Letter

Posted April 20, 2018

Amazon has exceeded 100 million paid Prime subscribers on its platform, Bezos said in the shareholder letter. Previous estimates by outside analysts pegged the number at 90 million in 2017.

Amazon has a big lead in cloud computing, a profitable and fast-growing market. On-demand service Amazon Music Unlimited doubled its subscriber base in the past six months, helped by a launch in another thirty countries.

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Bezos did not provide a precise figure, but the total number of Amazon Music subscribers is likely to be substantially less than Spotify's 70 million or Apple Music's 36 million.

Amazon has in the past faced criticism for allegedly pushing some employees to breaking point and allowing a toxic working environment, but that might be the price for what Bezos calls high standards.

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Amazon CEO also highlighted data from analytics firm App Annie to explain that the company's mobile shopping app was the most downloaded shopping app in India past year. He said that the company's Prime Day for 2017 was its "biggest global shopping event ever" until it was soon eclipsed by Cyber Monday, the day of online shopping deals following the Thanksgiving holiday weekend. These examples are from retail, but I sense that the same customer empowerment phenomenon is happening broadly across everything we do at Amazon and most other industries as well. The letter is the founder's opportunity to underline his long-term strategy for investors, seeking to bolster their confidence as he continues to plow Amazon's money into expanding internationally, building a brick-and-mortar presence, and inventing new products like Echo speakers and the Alexa voice-activated digital assistant. Amazon CEO Jeff Bezos said in a letter to the shareholders, importance of maintaining high standards in terms of running a business is increasing.

Bezos believes that high standards are teachable and once it is embedded in an organization, it becomes contagious and spreads among members.

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"So, the four elements of high standards as we see it: they are teachable, they are domain-specific, you must recognize them, and you must explicitly coach realistic scope". Netflix has 125 million worldwide subscribers who, on average, pay about $120 annually to watch its video-streaming service, based on numbers the company released with its quarterly earnings earlier this week.