The new price hikes have likely been instituted to nudge monthly Prime members into becoming annual members. Amazon could easily be losing money on such Prime customers, assuming they remembered to cancel subscriptions at the end of the month.
Amazon isn't raising the $99 annual fee for Prime membership so this appears to be a drive to push customers onto the yearly tier.
As noted by Engadget, Prime's annual plan offers the company a much more stable revenue stream while also working out to be a significantly better deal for subscribers.
Amazon Prime memberships are getting more expensive - for those customers who want the flexibility to pay for the speedy shipping and media streaming program on a monthly basis.
As of the third quarter of 2017, CIRP estimated that 90 million people in the U.S. were Amazon Prime members.
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In the UK, Amazon Prime costs £7.99 if they decide to pay each month or £79 to pay upfront each year.
Amazon Prime Video monthly fees remain the same at $8.99.
The fee kicks in today for new members. Amazon's monthly Prime price increase comes one day after the company announced the 20 finalists for its second corporate headquarters. He added then that he saw the move as an answer to Wish, a mobile e-commerce platform that has built much of its fortunes so far on bringing Chinese sellers to customers in the USA and elsewhere.
The price increase makes the $99 annual membership - whose price is unchanged - seem like a bargain. Consumer Intelligence Research Partners estimates Amazon had 90 million Prime members.