|No. 1 Online Music Retailer Amazon.com Announces Fourth Quarter 1999 Music Store Results|
No. 1 Online Music Retailer Amazon.com Announces Fourth Quarter 1999 Music Store Results
SEATTLE--Feb. 2, 2000--Leading online retailer Amazon.com (www.amazon.com) (Nasdaq:AMZN) today announced that sales from its U.S. Music Store in the fourth quarter of 1999 reached $78 million, up more than 136 percent from the fourth quarter of 1998. Sales for fiscal year 1999 were $195 million, and the store ended the year with an annualized run rate solidly over $300 million. With these results, Amazon.com continues to set the pace for online music sales.
Amazon.com's continual focus on providing the best music shopping experience helped the retailer dominate 1999 industry polls, earning the following honors:
"Amazon.com's music team is a group of music experts and music lovers devoted to helping our customers find music titles and music-related items they'll love," said Jennifer Cast, Amazon.com Music Store general manager. "We're extremely grateful to our customers, who shared suggestions and criticisms that resulted in making Amazon.com not only the No. 1 online music shopping destination but also the easiest-to-use, most comprehensive music store on or off the Internet. We look forward to working with our customers to develop many more additions and improvements to our store in 2000."
During 1999, Amazon.com launched a steady stream of new features to serve its music customers better. Enhancements to Amazon.com's Music Store last year include:
About Amazon.com's Music Store
Amazon.com's Music Store, which opened in June 1998, is the No. 1 online music store and offers shoppers more than 25 times the CD selection of the typical music store at everyday savings of up to 30 percent. Customers can find everything from the latest releases to hard-to-find gems in any music genre. Amazon.com's Music Store features: the largest staff of music editors on the Web; thousands of reviews by expert staff editors and nationally known critics; song samples; free, full-length song downloads from established and independent artists; artist interviews; lists of essential albums by style, artist, composer, and year; helpful introductions to classical, jazz, and international music; thousands of bestseller lists; and personalized music recommendations.
About Amazon.com, Inc.
Amazon.com (Amazon.com, Inc., and its subsidiaries) is the Internet's No. 1 music, No. 1 DVD and video, and No. 1 book retailer. Amazon.com (Nasdaq:AMZN) opened its virtual doors on the World Wide Web in July 1995 and today offers Earth's Biggest Selection, along with online auctions and free electronic greeting cards. Amazon.com lists more than 18 million unique items in categories including books, CDs, toys, electronics, videos, DVDs, home improvement products, software, and video games. Through Amazon.com zShops, any business or individual can sell virtually anything to Amazon.com's more than 13 million customers, and with Amazon.com Payments, any seller can accept credit card transactions, avoiding the hassles of offline payments. The company also participates in sothebys.amazon.com, the leading auction site for guaranteed art, jewelry, and collectibles, at www.sothebys.amazon.com.
Amazon.com seeks to be the world's most customer-centric company, where customers can find and discover anything they may want to buy online. Amazon.com's All Product Search scours the Web to help customers find merchandise that is not available at Amazon.com, Amazon.com Auctions, or Amazon.com zShops, making Amazon.com the shopping destination to find anything.
Amazon.com operates two international Web sites: www.amazon.co.uk in the United Kingdom and www.amazon.de in Germany. It also operates the Internet Movie Database (www.imdb.com), the Web's comprehensive and authoritative source of information on more than 150,000 movies and entertainment programs and 500,000 cast and crew members dating from the birth of film in 1892 to the present.
Amazon.com has invested in leading Internet retailers that are improving the lives of customers by making shopping easier and more convenient: Greenlight.com, the only company that offers car buyers the control of auto purchasing online with ongoing service and support from local dealerships, at www.greenlight.com; drugstore.com, an online retail and information source for health, beauty, wellness, personal care and pharmacy, at www.drugstore.com; Pets.com, the online leader for pet products, expert information, and services, at www.pets.com; HomeGrocer.com, the first fully integrated Internet grocery-shopping and home-delivery service -- with operations in Seattle; Portland, Oregon; and Southern California -- at www.homegrocer.com; Gear.com, which offers brand-name sporting goods at prices from 20 to 90 percent off retail, at www.gear.com; and Ashford.com (Nasdaq:ASFD), the leading Internet retailer of luxury and premium products and the Web's No. 1 retailer of watches and jewelry, at www.ashford.com. Amazon.com also has a minority interest in Della.com, which brings together leading retailers with gift registry, expert advice, and personalized gift suggestions to help everyone give better gifts, at www.della.com; and NextCard, Inc., considered the industry's leading issuer of consumer credit on the Internet, at www.nextcard.com.
This announcement contains forward-looking statements that involve risks and uncertainties that include, among others, Amazon.com's limited operating history, anticipated losses, unpredictability of future revenues, potential fluctuations in quarterly operating results, seasonality, consumer trends, competition, risk of distribution center expansion, risks related to fourth quarter performance, risks of system interruption, management of potential growth, risks related to auction and zShops services, risks related to fraud and Amazon.com Payments, and risks of new business areas, international expansion, business combinations, and strategic alliances. More information about factors that potentially could affect Amazon.com's financial results is included in Amazon.com's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 1998 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 1999, June 30, 1999, and September 30, 1999.