Amazon is raising the price of its popular Amazon Prime to $139, a $20 increase over the current price.
Amazon Prime is one of the company’s main selling points, giving customers faster shipping and access to a large catalog of streaming TV and movies. Given its price, at $119 a year, the service is competitively priced, given all it includes.
Unfortunately, the company announced at its fourth-quarter earnings that it was raising the price to $139 a year, according to The Hollywood Reporter. Meanwhile, monthly plans will increase by $2 to $14.99 a month.
“Since 2018, Prime Video has tripled the number of Amazon originals,” CFO Brian Olsavsky told analysts, saying that “the continued expansion of Prime member benefits, and the increased use we have seen, along with increased costs and inflation,” were contributing factors in the decision.
Another major factor is likely Amazon’s deal to broadcast Thursday Night Football, a contract that is costing the company $1 billion per year.