Amazon announced they were raising their prime membership prices today.
The company announced their annual membership prices would be going from $119 to $139. But if you pay the monthly fee it (going up from $12.99/month to $14.99/month), it will end up being even MORE adding up to $180 a year. Yikes.
Amazon is citing wage increasing and the cost of transportation as the reason behind the increases.
Yahoo Finance said:
The increase announced Thursday is the first since 2018. Amazon has invested billions of dollars to ensure packages get to customers on time amid an acute labor shortage and supply-chain bottlenecks. Prime subscribers also get access to movies, sports programming and photo storage, among other perks.
The company added millions of new subscribers after previous price increases, and analysts say Amazon probably won’t lose many customers once the latest hike goes into effect. Investors welcomed the increase and sent the shares soaring after the company reported robust results, fueled in part by a strong showing from its cloud-services division.
The price change will go into effect for new members starting Feb. 18, and existing members will see their fees go up on the date of their next renewal after March 25.