Towards the tail-end of December last year, Amazon announced that more than 4 million shoppers signed up for Prime subscriptions during the holiday season, and in his annual shareholder's letter, Jeff Bezos revealed that there are 100 million Prime subscribers in total. That's a pretty big number of people who will be affected by the news that Amazon is raising the price of Prime membership from $99 to $119 annually.
The extra $20 represents an increase of just over 20% and will come into effect for new subscribers from May 11, a little less than two weeks from now. For existing Prime subscribers, the price increase becomes active from June 16. It seems that if your current subscription comes up for renewal after June 16, Amazon won't allow you to prepay for the next year's membership in advance at to the lower rate, which is unfortunate.
It's no real surprise that price increase has been announced, it's has been on the cards ever since Amazon bumped up the cost of the monthly subscription of Prime from $10.99 to $12.99 in January.
What do you think of the price increase? Is the additional $20 enough to make you think twice when it comes time to renew your Amazon Prime subscription? Let us know in the comments below.
Source: Ben Fox Rubin (Twitter)
