The yearly rate for Prime Video will no longer be $99. Amazon Prime memberships have jumped to triple digits. As of June 16, 2018, new and renewing Prime members will have to pay $119 for a year subscription. This is the first time there has been a price hike for yearly-rate Prime members since 2014. However, Prime upped the monthly rate earlier this year from $10.99 to $12.99.
During a sales call, Amazon representatives were asked why the rates are going up now. The response was,
“It’s really nothing more than looking at the state of the program… and the benefit it provides. There’s all kinds of new features we’ve added to the program. It’s much different than it was in 2014.”
Amazon has been revamping Prime a lot lately. The Seattle-based company has been working on expanding their global reach. In order to lure in more subscribers, they started offering free streaming of classics to Prime subscribers. They have also been working on getting more content, working with cable networks, as well renewing and canceling popular shows.