United States

Amazon to raise annual Prime subscription to $119, a 20% increase

SAN FRANCISCO - Amazon is raising the annual cost of its Prime subscription service for U.S. customers to $119 per year, up from $99. The new pricing will apply to existing members’ renewals starting June 16. Annual Prime members will receive an email with their renewal details in May. The company’s chief financial officer Brian Olsavsky made the announcement during the company’s financial results call Thursday afternoon. Asked why the company was raising the cost of the membership now, Olsavsky said it is always evaluating the price of Prime in the countries where it is offered. “This is a better reflection of the cost value of the program,” he said. The 20% increase comes four years after Amazon last raised the annual price ...