Amazon is about to raise the price of Prime for the first time in four years.
Amazon Prime will become more expensive for new members in the U.S. on May 11. Specifically, the price of an annual membership will increase from $99 to $119. This new price will go into effect for existing Prime subscribers’ renewals on or after June 16, depending on their renewal date.
“We still feel this is the best deal in retail and we work to make it better and better every day,” said Amazon CFO Brian Olsavsky.
Amazon Prime offers a lot of benefits beyond the free two-day shipping that it’s known for, like Prime Video and Prime Music streaming, same-day delivery and two-hour Prime Now delivery in eligible areas, and a discount on Amazon Music Unlimited streaming. This price increase isn’t insignificant, but if you regularly use those services, Amazon Prime could still be worth it at its new price.
What do you think of this news? If you’re an existing Amazon Prime subscriber, are you thinking about canceling your subscription because of the price increase?