In a quarterly earnings report Thursday, Amazon announced that it will be raising the price of its annual Prime membership to $139 from $119. The monthly price of a Prime membership will go up from $12.99 to $14.99. The price change will go into effect for new members on February 18th and for current members after March 25th.
Prime passed the 200 million subscriber mark in April 2021. The subscription gives Prime member access to Amazon Prime Video, along with unlimited music streaming, unlimited photo storage, free two-day shipping and other perks.
Amazon last increased the price of a Prime membership in April 2018. At that time, the price of Prime went up from $99 per year to $119.
The company pointed to “the continued expansion of Prime member benefits as well as the rise in wages and transportation costs” as the reasons behind the price hike.
The expansion of benefits includes Amazon’s nearly $1 billion deal with the NFL to be the exclusive streaming home of Thursday Night Football beginning next season. Prime Video will also be releasing the first season The Lord of the Rings: The Rings of Power which has a rumored cost of up to $500 million, alongside other high budget series like Wheel of Time and The Boys.