Amazon hikes up price of Prime to $119 a year

In its quarterly earnings call Thursday, Amazon announced it was increasing the annual price from $99 per year to $119 starting May 11 for new members.

From 11 May, new members will pay $119 United States dollars per year for a subscription, up from $99 USD right now. The company says that existing customers will be able to renew their subscription for $99 through June 16. Prime's free 2-day shipping and access to special pricing mean Amazon has become the go-to for many, but it seems the company is not satisfied with the level with which it has infiltrated your life.

Amazon has more than 100 million Prime members, CEO Jeff Bezos wrote in a letter to shareholders that was shared with the US Securities and Exchange Commission.

Amazon executives said Thursday that the 20 percent increase is due to higher costs to maintain the program, such as shipping fees.

I do love my Prime subscription, but the price increase makes it a little harder to justify each time.

Though the annual cost remained steady over the past few years, Amazon did increase the monthly cost from $10.99/month to $12.99/month earlier this year.

US online retail giant Amazon announced Thursday that its profits for the first quarter of 2018 more than doubled with accelerated sales. It's not known how many subscribers Prime has in Australia.

Amazon said AWS had operating income of $1.4 billion, up from $890 million, as revenue topped $5 billion for the second consecutive quarter, at $5.44 billion.

The enormous ballroom will also be located in the Wood house, and at 1,500 square feet, with its own bar and balconied promenade, it will undoubtedly host many extravagant parties for years to come. The company had $51.04 billion of revenue, compared with $49.78 billion forecast.

As of January of this year, Amazon had its search for the site of its HQ2, or its next headquarters, narrowed down to 20 cities, one of which is Washington, DC.

Amazon's global headcount is up 60 percent from a year ago at 563,100 full-time and part-time employees, thanks to a hiring spree and an influx of workers from Whole Foods Market.

"AWS had the unusual advantage of a seven-year head start before facing like-minded competition, and the team has never slowed down", Bezos said.