Amazon raising prices on monthly Prime membership

by Talk Business & Politics staff ([email protected]) 185 views 

Netflix did it and cable companies do it all the time. Now Amazon is reportedly raising the cost of it monthly Prime membership from $10.99 to $12.99, which is an 18% increase, according to Recode, who first reported the hike.

It’s been two years since Amazon began offering consumers the opportunity to pay out the $99 annual subscription fee in a monthly option. The annual one-time payment is expected to remain $99, but those paying out the fee will incur additional charges of roughly $56.

The company said Prime provides an unparalleled combination of shipping as well as entertainment benefits. The biggest perk is the 2-day shipping, which now covers more than 100 million items. Same-Day shipping has also been expanded to more than 8,000 cities and towns. Amazon also continues to add original programming and streaming music for its Prime members.

Amazon said student memberships will increase to $6.49, from $5.49 a month, but the monthly Prime video membership which doesn’t include shipping will remain $8.99 per month. Members on government assistance get the service for $5.99 a month with no increase.