Amazon increases the price of Prime nearly 17% to $139 per year [View all]

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Source: CNBC

Amazon is raising the price of its annual Prime membership to $139 from $119, the company announced on Thursday as part of its fourth-quarter earnings results.

Amazon last hiked the price of Prime in 2018, when it increased to $119 from $99. Four years before that, it raised the subscription fee to $99 from $79.

Amazon’s annual increase amounts to about a 17% rise in price. Amazon also raised the monthly price of a Prime membership from $12.99 to $14.99, the company said. New members will see the increased prices on Feb. 18, and current members will be billed at the higher rate after March 25.

Read more: https://www.cnbc.com/2022/02/03/amazon-increases-the-price-of-prime-nearly-17percent-to-139-per-year.html

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Launched in 2005, Amazon Prime gives members access to free two-day shipping, as well as access to exclusive movies and TV shows, among other perks. As of last April, the service had more than 200 million subscribers worldwide.

The membership program remains one of the biggest growth levers for Amazon’s core retail business. Prime members spend considerably more on Amazon than non-Prime customers, and they also shop more often.