Amazon will be raising the price of its annual and monthly Prime subscriptions.
Annual memberships will jump from $119 to $139, with monthly subscriptions going from $12.99 to $14.99.
The new prices will go into effect Feb. 18 for new members and March 25 for existing members. This is the first time Amazon has raised its price in four years.
The company said expanded services such as free same-day shipping and more video content are part of the reason for the hike, along with increasing labor and transportation costs.
The social media reaction was swift.
Journalist Holger Zschaepitz tweeted an infographic of inflation over time along with the news. “That’s what I call inflation,” he wrote.
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That’s what I call #inflation: Internet giant #Amazon said it will increase price of a Prime membership in the US. Monthly fee going from $12.99 to $14.99, annual membership from $119 to $139. First time Amazon has raised the price of Prime since 2018. pic.twitter.com/ZElKuhGbYR
— Holger Zschaepitz (@Schuldensuehner) February 3, 2022
Media personality Trish Regan echoed Zschaepitz. “Breaking: Amazon increases the price of Prime nearly 17% to $139 per year,” she tweeted. “This is INFLATION.”
Breaking: Amazon increases the price of Prime nearly 17% to $139 per year.
This is #INFLATION
— Trish Regan (@trish_regan) February 3, 2022
Sports correspondent Bob Williams lamented the trend. “First Netflix, now Amazon Prime,” Williams wrote. “Having multiple streaming platforms won’t be financially feasible for many in the near future, if it isn’t already.”
First Netflix, now Amazon Prime. Having multiple streaming platforms won’t be financially feasible for many in the near future, if it isn’t already. https://t.co/Db6LK0o3f5
— Bob Williams (@WilliamsBob75) February 3, 2022
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Amazon also announced that its annual sales increased 22% in 2021, reaching $469.8 billion.
