Amazon announced Thursday that it is raising the price of Amazon Prime from $119 to $139 per year. The company will also be increasing prices for monthly subscribers, who will pay a monthly rate of either $15 or $180 depending on their subscription length. For the first time since its pricing increase in 2018, Amazon has raised its annual membership fee by about 18%. This price bump marks the third raise for annual memberships and fourth raise for monthly ones since 2015. The premium service originally launched at a yearly cost of just under 80 dollars back in 2005.

According to a report from Consumer Intelligence Research Partners, as of December 2021 about 172 million people subscribe to Amazon Prime. The report notes that in the past two years alone, 30 million new subscribers have been added each year. Even tho the price is rising, there are ways to maximize your current subscription or get in on old price before it's gone. Read on for all you need know about how this change affects our pricing and how you can save!

How much will Amazon increase the cost of Prime?

Starting on May 11, Amazon Prime will now cost $139 per year. If you subscribe monthly, the price of Prime will be increased to $15 per month. The same increase can also happen for students and other low-income subscribers who are currently paying a lower price for their yearly subscription with Amazon Prime Student memberships costing only $69 annually or at a rate of just 7 dollars each month. For qualified recipients who receive Electronic Benefit Transfer (EBT) or other forms of government assistance, they too would see an increase in monthly subscription prices from 6 to 7 dollars starting this week on May 9th until June 30th when the rates go back down again.

Is it possible to use a gift card to purchase an Amazon Prime subscription in the future?

Amazon's “gift of Prime” option, according to savvy bargain hunters, can be an excellent way to extend the current pricing rate. You may acquire another year of Amazon Prime for $119 if you buy a gift subscription before the price change and activate it when your current subscription ends. If you join up for a yearly account before February 18 and purchase another $119 yearly gift membership, you won't have to pay the new $139 yearly fee until 2024 (albeit you will pay $238 upfront).

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Why is Amazon increasing the cost of Prime membership?

Despite reporting better-than-expected fourth-quarter earnings, Amazon cited several reasons for the price increase in its press release, including more big-budget shows on Prime Video, such as The Wheel of Time, Jack Reacher, and the upcoming The Lord of the Rings: The Rings of Power, as well as its decade-long exclusive license to NFL's Thursday Night Football. The corporation also boasted of extended same-day delivery to 90 metropolitan regions across the United States, free shipping on more items, and more product offers.

What are the services provided by Amazon Prime?

Amazon Prime debuted with unlimited free two-day delivery on a vast number of its items, and that basic offering is still its most popular advantage. However, Amazon Prime has subsequently broadened its offers and now includes a plethora of other bonuses.

The following are the most important services provided by Amazon Prime:

  • Free two-day, next-day, or same-day shipping is available.
  • Amazon offers free groceries delivery. Whole Foods is offering fresh discounts.
  • Prime Video offers free video streaming.
  • Amazon Music offers free music streaming.
  • Prime members may get free periodicals and books. Reading
  • Amazon Photos offers unrestricted photo storage.

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