Amazon announced it would raise the cost of annual and monthly memberships for its Prime subscription. The company said Thursday that the price would rise from $119 to $139 annually, or from $12.99 to $14.99 monthly.
- Amazon announced it would raise the cost of annual and monthly memberships for its Prime subscription.
The company said Thursday that the price would rise from $119 to $139 annually, or from $12.99 to $14.99 monthly. The hike goes into effect Feb. 18 for new members and March 25 for those already subscribed,It’s the first increase on the subscription since 2018. Amazon stated in its earning report that the increase was due to expanded Prime benefits, including more Prime Video content and expanded free same-day shipping, as well as to cover rising labor and other costs.
The company reported a profit of $14.32 billion, or $27.75 per share, for the three-month period that ended Dec. 31. That compared with a profit of $7.22 billion, or $14.09 per share, during the same period the year before. Revenue rose 9% to $137.41 billion, the company’s fifth consecutive quarter of revenue topping $100 billion.
Copyright 2022 Gray Media Group, Inc. The Associated Press contributed to the report. All rights reserved.
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