Amazon just announced that starting in June your annual price is going up to $119.00.
They are stating the reason for the price hike is because the cost of maintaining these services is going up. With more people using the service, it takes more manpower and logistics use to get everything out to its customers. So the cost for running business at the same caliber it has been, is costing more.
"We continue to increase the value of Prime," Amazon CFO Brian Olsavsky said on the call, adding that the company has added "digital benefits," like Prime Video.
He noted that the company is seeing "rises in cost" for providing Prime services, which include shipping perks and video streaming.