amazon warehouse worker
Amazon is increasing the price of Prime membership when paid yearly.
Reuters/Lucas Jackson
  • Amazon said on an earnings call it will increase the price on annual Prime memberships to $119 a year.
  • CEO Jeff Bezos recently revealed the number of Prime members at over 100 million members.
  • Amazon continues to offer discounts for students and some lower income demographics.

Amazon says it will increase the price of its annual Amazon Prime membership program to $119 a year — an increase of $20.

The company’s CFO, Brian Olsavsky, revealed the price increase on an earnings call discussing the company’s latest results. The price increase will take effect May 11 and will affect Prime membership renewals after June 16.

“We still feel its the best deal in retail,” Olsavsky said on the call after an analyst questioned the price increase.