Amazon will increase the price of its catch-all Prime membership to $139 annually in the United States, up from the prior price of $119. For those who subscribe month-to-month, the monthly charge will rise from $12.99 to $14.99.
As far as new sign-ups go, the new price will go into effect very soon: February 18. The change will happen with the first renewal date after March 25 for existing members.
Amazon cited higher transportation costs and wages as well as expanded products and services within the membership as reasons.
The company announced the change on the heels of its quarterly and annual earnings reports to investors, which showed reduced profits as a result of those rising expenses. The service had 200 million subscribers worldwide as of last year.
This is the third time Amazon has raised the prices in the US since Prime’s introduction back in 2005. The previous time was in 2018, when the annual price raised from $99 to $119. Back in 2014, the price changed from its initial cost of $79 to $99.
Prime membership includes several different, sometimes unrelated, benefits. They include free two-day, one-day, or same-day shipping on many items in Amazon’s online storefront, access to the company’s streaming video and music services. Benefits for users of the gaming video platform Twitch, access to a photo library tool, exclusive deals, free access to some audiobooks, and more.