Amazon Announces a 20% Fee Increase for Prime Members!
By Li Chen
Today, Amazon announced an increase in prime member fee from $99/yr to $119/yr (20% increase), effective for new members as of May 11th and for current members on June 16th.
This is the first increase in Prime member fees in the past 4 years. Amazon said the cost on their side to maintain the program has increased significantly and forced them to increase the price.
Amazon currently has 100 million members across the world, and this increase will boost the company's revenue by $2 billion a year.
So, if you are a Prime member, will you continue the subscription?