Amazon today said it will increase the price of its Amazon Prime service from $99 to $119 on May 11.
“We continue to increase the value of Prime,” said Amazon CFO Brian Olsavsky during the company’s quarterly earnings call with analysts.
Amazon Prime scores members expedited shipping, shipping discounts, and access to cloud-based services such as Amazon Prime Movies and Prime Music. Amazon also offers discounts on select phones to Prime members via its Amazon Prime Exclusives program.
Olsavsky noted that it is seeing “rises in cost” for these “digital benefits.”
The May 11 rate increase will apply to new members. The price goes up to $119 on June 16 for existing Prime customers who renew the yearly service.
