The Price Increases Are Slated To Go Forward From September 2022, Due To The Cost Of Living Crisis And Rising Operational Costs.
Amazon Announces A Rise In Price For Prime Membership
The e-commerce conglomerate Amazon has announced that they'll be raising the price of Prime membership due to world wide inflation and it's effect on Amazon's in house delivery service.
Going forward from September, the monthly subscription rate goes up to £8.99 ($12), and annual subscription prices will rise to £95 ($107).
The rise in Prime membership costs is part of a trend, with Netflix, Disney+, and Hulu raising their subscription rates due to the 40 year high inflation's influence over operational costs.
Amazon has clarified that: "New pricing will begin after September, or when a Prime member's renewal date comes to pass".
Many across the world have cut the digital cable due to the rising inflation seen following the Covid-19 Pandemic and the ongoing war in Ukraine, with Netflix loosing 2.5 Million subscribers (Not including the 3.5 Million lost after the company exited the Russian market) as a result.
A majority of Prime's customer base are under-25s, who're statistically the most likely to cancel their membership due to the cost of living crisis.
Same goes for the aforementioned Netflix and Disney+.
According to Amazon, over one third of cancelations were due to: "Wanting to save money".
One of several options people can choose from when reporting to Amazon why they'd wish to unsubscribe from Prime.