Amazon Prime customers will see the cost increase by £16 a year this week.
The cost of an Amazon Prime subscription is set to rise on Thursday as the cost of living crisis continues to weigh on many.
According to Amazon, the price increase of its delivery and streaming service is due to “increased inflation and operating costs”.
The tech giant offers free unlimited delivery, entertainment streaming and live sports through its Prime service.
What is the price increase on Amazon Prime?
It said it will increase the price of Prime from £7.99 a month to £8.99 this month.
The increase means the cost of an annual Amazon Prime membership in the UK will rise from £79 to £95 a year.
— Prime Video UK (@primevideouk) August 23, 2022
The Prime price hike is the first since 2014.
It comes months after Netflix increased its basic and standard plans by £1 a month, while its premium plan saw a £2 increase just 18 months after a previous increase.
When will Amazon Prime prices rise?
The Amazon Prime price increase will take effect on September 15 for new customers or on the date of an existing customer’s next renewal
A spokesman for the company said: “Prime offers the best in shopping and entertainment and continues to improve every year.
“We’ve increased the number of products available with fast, unlimited Prime delivery, recently added ultra-fast fresh grocery delivery, and significantly expanded our high-quality digital entertainment, including television, movies, music, games and books.
“With increased inflation and ongoing increases in operating costs in the UK, we will be changing the Prime price.”
Amazon has pumped billions of pounds into its streaming content in recent years, with original series like The Boys and The Terminal List.
In September, the Prime Video platform will release The Lord of the Rings: The Rings of Power series, which costs an estimated £750 million in rights and filming costs.
The company is also investing millions in sports rights after earlier this month securing the rights to show some Champions League games from 2024 and expanding its rights to 20 Premier League games per season.
https://www.theargus.co.uk/news/21396821.amazon-prime-two-day-warning-ahead-changes/?ref=rss Amazon Prime two-day warning of changes