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The annual price of an Amazon Prime membership in the US will rise 20 percent.
Amazon finance chief Brian Olsavsky said during an earnings call with analysts Thursday that his company will hike Prime's fee to $119 a year, from $99, on May 11. The new price will apply to existing Prime members' renewals starting June 16. Also, if your regular renewal is after June 16, you won't be allowed to prepay for another year at the currently lower rate, an Amazon spokeswoman said.
Increase - Time - Amazon - Prime - Membership
That increase is only the second time Amazon has increased the annual Prime membership since it was first introduced in 2005, with the company in 2014 raising the price to $99 from $79.
Despite those few increases, the boost to Prime's fee -- particularly above the psychologically significant $100 level -- could threaten future renewals and new Prime customers. Prime is one of Amazon's most important businesses, helping build loyal, repeat customers who tend to spend about twice as much with Amazon than non-Prime shoppers. Prime's biggest customer base in the US.
Amazon - CEO - Jeff - Bezos - Week
Amazon CEO Jeff Bezos just last week revealed that Prime hit over 100 million members.
(Excerpt) Read more at: CNET
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