Buzz
If you're among the few who still haven't signed up for Amazon Prime, now is the time—its yearly price is set to increase by $20, reaching $119 annually.
The company informed investors that the price bump will begin on May 11 for new Prime members, as reported by The Hollywood Reporter, and on June 16 for existing members who renew. A monthly Prime subscription now costs $13 per month, or $156 per year (an increase from $11 per month back in January).
The last time Amazon raised the cost of the service, which offers perks like two-day shipping, music and video streaming, and more, was in 2014, when it raised the price of an annual membership from $79 to the current $99.
As reported by THR, Amazon CFO Brian stated to investors that 'the value of Prime to customers has never been greater...and the cost is also high, as we pointed out especially with shipping options and digital benefits, we continue to see rises in costs.'
The company recently revealed that it has surpassed 100 million Prime members globally.
