Over the next two months, the price for an annual Amazon Prime subscription will go up from $99 to $119, a 20-percent increase.
If you've got a Prime Subscription to Amazon, get ready to drop a bit more as the price for an annual subscription will be increasing from $99 to $119. This comes four years after Amazon last raised the annual price, where it went from $79 to $99 in 2014. This increase will affect new subscribers starting on May 11, while existing members won't see it take effect until June 16. Amazon CFO Brian Olsavksy said that the price increase was, in part, due to more Prime features, including shipping and video streaming, as well as increasing costs. "This is a better reflection of the cost value of the program," he said.
Back in January, Amazon increased its monthly rate by 18 percent -- $10.99 to $12.99 -- and its monthly Prime program for students, from $5.49 to $6.49.
The online retailer recently announced that it has more than 100 million paid Prime members worldwide.
To read more about the subscription prices changing, click here.
What do you think? Do you have a Prime subscription? How will this price increase change affect that? Share your thoughts with us in the comments below, and let's get the conversation started.