In their latest earnings report, Amazon announced their intention to raise the cost of Prime membership for US customers as of the 18th of February.
The annual cost of Prime membership will rise by $20 a year to $139. This is still fantastic value for the free express deliveries plus all of the other Prime benefits on offer, but probably won’t be welcome news for the millions of US prime members.
Amazon will increase the price of a Prime membership in the U.S., with the monthly fee going from $12.99 to $14.99, and the annual membership from $119 to $139. This is the first time Amazon has raised the price of Prime since 2018. For new Prime members, the price change will go into effect on February 18, 2022, and for current Prime members, the new price will apply after March 25, 2022, on the date of their next renewal.– Amazon
Save on the cost of Prime membership
It’s worth noting that if you currently pay for Prime monthly, or if you don’t have a Prime membership, you can access Prime for the next year at the old rate of $119 by signing up today! So long as you sign up for Prime and pay annually, you won’t pay the higher rate until your renewal which would then be this time next year.
What does the cost of Prime membership get you?
Amazon point out the value of Prime including having added more product selection available with fast, free, unlimited Prime shipping; more exclusive deals and discounts; and more high-quality digital entertainment, including TV, movies, music, and books. Since 2018, Prime Video has tripled the number of Amazon Originals. This is all on top of new program benefits like prescription savings and fast, free delivery from Amazon Pharmacy and the continually growing Amazon Music for Prime members, Prime Reading, and Prime Gaming.
Amazon justify the increased cost due to the continued expansion of Prime member benefits as well as the rise in wages and transportation costs