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Amazon Prime Is About to Get More Expensive

E-commerce giant is bumping the service from $99 to $119 a year

Amazon Prime is about to get more expensive.

The service, which gives customers a lot of perks, from “free” two-day shipping to access to Amazon’s video catalog, is increasing its price from $99 to $119 a year, CFO Brian Olsavsky said on the company’s earnings call on Thursday.

New customers will see the price hike on May 11, while current customers will see their rate increase on June 16.

The company just announced for the first time last week it has more than 100 million Prime customers. The last time Amazon increased the annual price for Prime was in 2014, when it moved from $79 to $99.

Amazon bumped up the monthly Prime price from $10.99 to $12.99 earlier this year.

The e-commerce giant blew past Wall Street estimates when it reported its first quarter earnings on Thursday afternoon. Amazon more than doubled its quarterly profit from the same time last year, and pulled in $51.04 billion in revenue.