Amazon announced Friday an immediate price hike of $2 for its Prime monthly subscription, from $10.99 to $12.99 a month – nearly a 20% increase.
Students will also see their discounted monthly subscription jump from $5.49 to $6.49, an 18% increase.
However, existing monthly Prime and Prime Student members will pay the new price for renewals happening next month, after February 18.
Perks of the Amazon Prime subscription include free 2-day shipping on more than 100 million items, unlimited streaming of music (Prime Music), movies and television shows (Prime Video) and cloud storage for photos.
Amazon will soon raise its annual memberships as well
The good news is that the price of annual Prime memberships stays the same, at $99 for regular customers and $49 for students, which are by far the most popular and economical membership plans, especially if you compare it with the monthly options which will end up costing you around $160 and $78 per year, respectively.
However, our analysis suggests that Friday’s announcement is just a prelude to an even bigger one: Amazon will soon – in the next few months – be raising the price of its popular annual membership, most likely to $119, also a 20% increase and the first in 4 years.