Amazon is Increasing Their Prime Membership Fee Starting May 11

• Amazon has officially announced that it will increase their Prime membership fee in the US.
• The company's CFO Brian Olsavsky announced that the new fees will be implemented starting May 11th.
• Jeff Bezos, the CEO of Amazon, said that the company currently has over 100 million paid Prime members. 

As Amazon CEO's shareholder's letter showed, the company has proven to the world that they are not slowing down for anything. An increase of 43 percent in sales is a direct result of numerous benefits that the company is providing to their users. And without thinking, their Prime membership plan is one of the most popular ones. For those who don't know, a Prime membership is a paid service that combines free shipping on a two-day or one-day basis. It also includes video subscription called Prime Video and the possibilities of different discounts in stores as well as DVD exclusives, etc.

Image Courtesy Of Geek Culture

Today, the announcement came directly from the company's CFO Brian Olsavsky who stated that Amazon will be increasing their yearly fee for Prime membership from $99 to $119. This 20 percent increase will be implemented from May 11th and those who are already Prime members can expect to see the new annual fee starting June 16th. As told by the Engadget, Olsavsky said in an interview that the reason for this increase is the fact that Prime customers have been getting a lot more benefits than before with the Prime membership, therefore the cost is also a little bit higher. According to him, as we start to see even more benefits in the future, we can also expect the higher prices. Let's not forget that Amazon has lately been trying out new methods for fast package delivery which is only available to the Prime members.

The CEO of the company, Jeff Bezos stated last week that the number of paid Prime memberships is now reaching over 100 million users around the world. However, the current increase in fees is referring to the US market, probably because most of the new services are US based too.