For the first time in four years, Amazon is increasing the price of Prime membership, according to the company’s latest quarterly earnings report.
The annual price of a Prime membership will rise from $119 to $139, while monthly prices will go from $12.99 to $14.99. The new increased prices are set to go into effect on Feb. 18, while subscribers will see the price change after their first renewal following March 25.
Prime Gaming, the premium Twitch subscription that grants users bonus exclusive content, will subsequently increase in price along with this general price change. The service is attached to Amazon Prime membership and will see the implementation of these new prices with the general service.
Amazon has cited its recent $1 billion deal to stream Thursday Night Football as a reason behind this sudden price increase. Alongside this, Amazon has also significantly increased its video library, including The Wheel of Time, Lord of the Rings: Rings of Power, and the latest season of The Boys. Amazon’s latest purchase, Lord of the Rings, reportedly cost over $465 million to produce.
Other than the platform’s continually increasing available media, Amazon also claims that the company’s same-day delivery feature, pharmacy delivery, and music division all played a role in the ultimate decision to increase the price.
Amazon reported that more than 200 million users have streamed its available shows and movies from its extensive library, according to IGN. Generating over $147 billion in net sales and $14.3 billion in net income, Amazon is still firmly one of the most profitable streaming platforms and companies in the world.
