During today’s quarterly earnings call, Amazon CFO Brian Olsavsky announced that the cost of an annual Prime membership will be increasing from $99 a year to $119 a year. Prime student membership will also increase from $49 to $59 annually. The price for new members will increase on May 11th, so if you sign-up for Prime before then, you’ll still pay $99 for your first year. For existing Prime members, the price will increase on June 16th, so if your renewal date is after that, you’ll pay the new price.
The last time annual Prime membership fees increased was 4 years ago in 2014 when they went from $79 a year to $99 a year. Earlier this year, Amazon increased their monthly Prime membership dues from $10.99 per month to $12.99 per month. “The value of Prime to customers has never been greater,” Olsavsky said. “And the cost is also high, as we pointed out especially with shipping options and digital benefits, we continue to see rises in costs.”