Amazon raises the price of its catch-all Prime membership to $139 per year in the United States, up from its previous price of $119. For those who subscribe monthly, the monthly cost increases from $12.99 to $14.99.
As for new signups, the new price will come into effect very soon: February 18th. The change will occur with the first renewal date after March 25 for existing members.
Amazon cited higher transportation costs and wages, as well as expanded products and services within its membership as reasons.
The company announced the change on the heels of its quarterly and annual earnings reports to investors, which showed lower profits due to those rising costs. The service had 200 million subscribers worldwide last year.
This is the third time Amazon has raised prices in the US since Prime’s introduction in 2005. The last time was in 2018, when the annual price increased from $99 to $119. In 2014, the price changed from the original price from $79 to $99.
Prime membership includes several, sometimes unrelated, benefits. They include free two-day, one-day, or same-day shipping for many items on Amazon’s online store, access to the company’s streaming video and music services. Benefits for users of the gaming video platform Twitch, access to a photo library tool, exclusive deals, free access to some audiobooks and more.