Amazon Prime memberships to increase this year

Amazon will raise the price of its Prime memberships this year.

The company announced Thursday that annual memberships will go from $119 to $139. Monthly memberships will also rise from $12.99 to $14.99. Changes for existing customers will begin after March 25. New customers will see the new prices starting Feb. 18.

The company noted its expanded benefits with Prime including a contract with the NFL which gives it exclusive rights to Thursday Night Football. Amazon said it has also expanded free same-day shipping to more areas.

The company is also trying to offset rising labor and transportation costs.

Amazon reported a profit of $14.32 billion in the last quarter of 2021. The company said for all of 2021, net sales increased 22% to $469.8 billion.

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