(NEXSTAR) – Amazon’s unlimited “free” shipping for Prime members is about to get a little more expensive.
Along with groceries, cars, gas and so many other things, the subscription cost is set to rise – the annual cost will jump from $119 to $139 and the monthly rate from $12.99 to $14.99, the company announced Thursday as part of its earnings report.
For current subscribers, the price hike will take effect after March 25, 2022 on the date of the next renewal, but for new subscribers the higher price will kick in on Feb. 18.
“With the continued expansion of Prime member benefits as well as the rise in wages and transportation costs, Amazon will increase the price of a Prime membership in the U.S.,” the company said in the release.
It’s the first time since 2018 that Amazon has raised the fee for the Prime membership, which includes shipping, streaming video, gaming, reading and other perks.
For occasional shoppers or Prime subscribers who don’t take advantage of the full range of benefits, the added cost may be a dealbreaker. For others, giving up two-day shipping and shows like “The Wilds” and “Catastrophe” will simply be too much.
If you’re looking for a way to keep Amazon Prime without paying more there’s another option to consider – T-Mobile is offering a wireless plan with Prime included.
News of the Prime price increase sent Amazon’s stock soaring roughly 15% at one point in after hours trading Thursday.