Amazon to Raise the Price of Annual Prime Subscription to $119 Starting Next Month

Amazon is raising the price of Amazon Prime from $99 to $119 per year.

A close-up of a packaged Amazon Prime item in the Amazon Fulfillment centre on November 15, 2017 in Peterborough, England. (Credit: Leon Neal/Getty Images)

A close-up of a packaged Amazon Prime item in the Amazon Fulfillment centre on November 15, 2017 in Peterborough, England. (Credit: Leon Neal/Getty Images)

The company announced the price hike for its membership program during a call with investors Thursday. The change will go into effect May 11, and it will apply to Prime renewals beginning June 16.

“We continue to increase the value of Prime,” Amazon CFO Brian Olsavsky said on the call, adding that the company has added “digital benefits,” like Prime Video.

He noted that the company is seeing “rises in cost” for providing Prime services, which include shipping perks and video streaming.