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Amazon Jacks Monthly Prime Prices by 20 Percent

Customers who pay for Amazon Prime in monthly installments will see a pretty significant jump in costs.

The monthly fee is moving from $10.99 per month to $12.99 per month. Those who pay $99 upfront for the entire year will see no changes, so that remains the better deal.

For monthly users, that means a jump from $131.88 yearly to $155.88, an 18 percent jump. That's far higher than the annual fee.

That same fee is jumping for the monthly program for students, as well, from $5.49 to $6.49. The yearly fee for students will also remain the same at $49.

If you're on government assistance, that price won't change ($5.99 per month), and if you're only paying for Amazon Prime Video without all of the shipping benefits, you'll see no difference ($8.99 per month).

MORE: What Is Amazon Prime? The Cost and Benefits of Membership

In a statement to Recode, Amazon called Prime an "unparalleled combination of shipping, shopping and entertainment benefits, and we continue to invest in making Prime even more valuable for our members."

The last big increase to Prime prices was for annual users back in 2014, when the company increased the yearly fee from $79 to $99.

Amazon would clearly prefer everyone pay upfront. After all, that locks you in for at least 12 months and guarantees more revenue than a customer who only stays for two or three months. If you can afford to pay upfront, it's far cheaper, though those who need the month-to-month flexibility will have to swallow these new costs.

Prime membership not only includes free shipping, but also Amazon's library of streaming content, some free eBooks and deals at Whole Foods, which the company acquired in 2017.