Photo: Getty ImagesAmazon is increasing its price for Prime memberships in the U.S. — its first increase since 2018 — the company announced Thursday alongside itsearnings report.Beginning Feb. 18, for new members and March 25 for existing members, annual costs will jump from $119 to $139 while monthly costs increase from $12.99 to $14.99.The Prime Student membership price is also reportedly increasing from $59 to $69 annually.The company said the 17% increase is a result of “continued expansion of Prime member benefits as well as the rise in wages and transportation costs.” Benefits include the expanded free two-day shipping and Prime Video content.In Amazon’s earnings report, the company revealed that it saw $14.3 billion in profit during the quarter, nearly doubling from the year prior. The company has over 200 million subscribers and has introduced price increases as it provides more Amazon Originals, including new series and movies, which are available for Prime members.Never miss a story — sign up forPEOPLE’s free daily newsletterto stay up-to-date on the best of what PEOPLE has to offer, from juicy celebrity news to compelling human interest stories.Getty ImagesThe retail giant isn’t the only subscription service to hike its prices.Last month,Netflix announcedthat its standard plan will now cost $15.49 in the United States, up from the previous monthly price of $13.99. Meanwhile, its premium plan is now $19.99, which represents a $2 increase from the previous cost of $17.99 per month.According to the streaming giant’s website, “these prices apply to new members and will gradually take effect for all current members. Current members will receive an email notification 30 days before their price changes, unless they change their plan.“Explaining the update, a Netflix spokesperson told PEOPLE at the time: “We understand people have more entertainment choices than ever and we’re committed to delivering an even better experience for our members.““We’re updating our prices so that we can continue to offer a wide variety of quality entertainment options. As always we offer a range of plans so members can pick a price that works for their budget.“The last price increase from the streaming giant took place in October of 2020.
Photo: Getty Images
Amazon is increasing its price for Prime memberships in the U.S. — its first increase since 2018 — the company announced Thursday alongside itsearnings report.Beginning Feb. 18, for new members and March 25 for existing members, annual costs will jump from $119 to $139 while monthly costs increase from $12.99 to $14.99.The Prime Student membership price is also reportedly increasing from $59 to $69 annually.The company said the 17% increase is a result of “continued expansion of Prime member benefits as well as the rise in wages and transportation costs.” Benefits include the expanded free two-day shipping and Prime Video content.In Amazon’s earnings report, the company revealed that it saw $14.3 billion in profit during the quarter, nearly doubling from the year prior. The company has over 200 million subscribers and has introduced price increases as it provides more Amazon Originals, including new series and movies, which are available for Prime members.Never miss a story — sign up forPEOPLE’s free daily newsletterto stay up-to-date on the best of what PEOPLE has to offer, from juicy celebrity news to compelling human interest stories.Getty ImagesThe retail giant isn’t the only subscription service to hike its prices.Last month,Netflix announcedthat its standard plan will now cost $15.49 in the United States, up from the previous monthly price of $13.99. Meanwhile, its premium plan is now $19.99, which represents a $2 increase from the previous cost of $17.99 per month.According to the streaming giant’s website, “these prices apply to new members and will gradually take effect for all current members. Current members will receive an email notification 30 days before their price changes, unless they change their plan.“Explaining the update, a Netflix spokesperson told PEOPLE at the time: “We understand people have more entertainment choices than ever and we’re committed to delivering an even better experience for our members.““We’re updating our prices so that we can continue to offer a wide variety of quality entertainment options. As always we offer a range of plans so members can pick a price that works for their budget.“The last price increase from the streaming giant took place in October of 2020.
Amazon is increasing its price for Prime memberships in the U.S. — its first increase since 2018 — the company announced Thursday alongside itsearnings report.
Beginning Feb. 18, for new members and March 25 for existing members, annual costs will jump from $119 to $139 while monthly costs increase from $12.99 to $14.99.
The Prime Student membership price is also reportedly increasing from $59 to $69 annually.
The company said the 17% increase is a result of “continued expansion of Prime member benefits as well as the rise in wages and transportation costs.” Benefits include the expanded free two-day shipping and Prime Video content.
In Amazon’s earnings report, the company revealed that it saw $14.3 billion in profit during the quarter, nearly doubling from the year prior. The company has over 200 million subscribers and has introduced price increases as it provides more Amazon Originals, including new series and movies, which are available for Prime members.
Never miss a story — sign up forPEOPLE’s free daily newsletterto stay up-to-date on the best of what PEOPLE has to offer, from juicy celebrity news to compelling human interest stories.
Getty Images
The retail giant isn’t the only subscription service to hike its prices.
Last month,Netflix announcedthat its standard plan will now cost $15.49 in the United States, up from the previous monthly price of $13.99. Meanwhile, its premium plan is now $19.99, which represents a $2 increase from the previous cost of $17.99 per month.
According to the streaming giant’s website, “these prices apply to new members and will gradually take effect for all current members. Current members will receive an email notification 30 days before their price changes, unless they change their plan.”
Explaining the update, a Netflix spokesperson told PEOPLE at the time: “We understand people have more entertainment choices than ever and we’re committed to delivering an even better experience for our members.”
“We’re updating our prices so that we can continue to offer a wide variety of quality entertainment options. As always we offer a range of plans so members can pick a price that works for their budget.”
The last price increase from the streaming giant took place in October of 2020.
source: people.com
