Amazon is raising the price of its Prime membership for the first time in four years, according to the company's latest quarterly earnings report.
The annual price of Prime membership will increase from $119 to $139, while monthly prices will increase from $12.99 to $14.99. The newly increased prices will take effect on February 18, while subscribers will see the price change after their first renewal after March 25. TL regulation is unknown.
Prime Gaming, a premium Twitch subscription that provides users with exclusive bonus content, will later increase its price with this general price change. The service is tied to an Amazon Prime membership and will see these new prices apply along with the overall service.
Amazon cited the last $1 billion deal as the reason for this sudden price increase. Alongside this, Amazon has significantly increased its video library, including The Wheel of Time, Lord of the Rings: Rings of Power and the latest season of The Boys. The production cost of Lord of the Rings, Amazon's latest purchase, is reportedly more than $465 million.
Alongside the platform's ever-increasing availability of media, Amazon claims the company's same-day delivery feature, pharmacy delivery, and music division all played a role in the final decision to raise the price.
Amazon reports that over 200 million users have streamed their current shows and movies in its library, according to IGN. With net sales of over $147 billion and net revenue of over $14,3 billion, Amazon remains one of the most profitable streaming platforms and companies in the world.
