Amazon raises monthly Prime rate by 18%

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Amazon unveiled the hike Friday, raising the price by 18 percent from $10.99 to $12.99 a month.

Amazon Prime is getting more expensive for monthly subscribers.

The best deal will remain paying for a full year's service at once, at $99 (vs a total cost of around $156 if paid monthly). Yearly subscriptions are also harder to cancel (just ask your gym!), which probably makes it a bit more appealing to Amazon as a company.

Amazon introduced the pay-per-month option less than two years ago to attract customers who didn't want to pay $99 up front for an annual subscription.

Amazon Prime Video's biggest competitor, market-leader Netflix, rolled out its third price increase in the last three and a half years in late 2017.

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The new prices are now live on the Amazon Prime subscription page. The organization will likewise raise the month to month charge for its Prime program for understudies, which it began the previous fall, from $5.49 to $6.

Amazon is hiking up the price of monthly Prime memberships from $10.99 to $12.99.

As indicated by Fortune, the Consumer Intelligence Research Partners (CIRP) gauges Amazon presently has 90 million USA - based Amazon Prime endorsers.

Amazon Prime, like many other services out there, offers a monthly subscription to help break up the cost of a service. Those two fragments of the market have generally been a little level of Amazon's vast populace of Prime clients. It probably is, if you're squeezing all the value you can out of it. This move is essentially showing us that Amazon is pushing customers to opt in for the annual option. "We also continue to introduce new, popular and award-winning Prime Originals.Members also enjoy a growing list of unique benefits like Prime Music, Prime Reading, exclusive products and much more", the statement said.

Amazon is estimated to have around 80 million worldwide Prime subscribers, with roughly half that number estimated to be using the Prime Video service. That's nearly double the $700 non-members spend on Amazon each year.