Prime is getting pricier. UK customers will soon pay £95 a year, up from the current rate of £79, while the monthly fee will rise from £7.99 to £8.99. That's an annual rise of 20 per cent, though some European countries face rises of over twice that.
The European price rises come months after the e-tail giant hiked prices in the US. Amazon has blamed "increased inflation and operating costs", the FT (opens in new tab) reports.
France faces the sharpest price rise, a hike of 43 per cent, while Germany will see an increase of 30 per cent.
The new prices take effect on 15th September.
While these rises are harsher than the 17 per cent hike Amazon gave US customers, it is the first price increase UK Prime customers have faced since 2014. It's estimated Amazon has 27 million Prime members in the UK.
Amazon has been splashing the cash of late. Its upcoming Lord of the Rings series is set to rival The Crown as the most expensive TV show ever made, while it also spent big on acquiring the rights to Premier League and Champions League football. Earlier this year, it completed its $8 billion takeover of the iconic MGM film studio.
Prime gives customers free one- to two-day shipping on thousands of items bought from Amazon, as well the Prime Video and Amazon Music streaming services. But with more young people cutting back on streaming services because of the rising cost of living, can Amazon convince them that Prime is still worth their money? Even the seemingly unassailable Netflix recently started losing customers, and is launching a cheaper, ad-supported tier in a bid to win them back.
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