Watch: Amazon Prime Membership Rises to $119

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Amazon Prime Membership

Rises to $119 The e-commerce giant made the announcement Thursday and said the annual price will go into effect on May 11. The price increase will apply to renewals on June 16. Amazon Prime has been expensive for the company to fund, especially with the number of products with free two-day shipping rising from 20 million in 2014 to more than 100 million today.

This is the second price increase for Prime after it rose from $79 to $99 in 2014. The cost of a monthly Prime membership jumped from $10.99 to $12.99 earlier this year. Last week, Amazon CEO Jeff Bezos revealed that Prime had more than 100 million subscribers worldwide.

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