Amazon.com Inc (NASDAQ:AMZN) said it will increase the cost of its Prime membership for UK customers from the middle of September due to inflation and higher operating costs.
“As of 15 September 2022, the price of the monthly Prime membership will increase from £7.99 to £8.99, and the price of the annual Prime membership will increase from £79 to £95,” it said in an email to its Prime members.
It is the first increase since 2014.
The retail giant also plans to lift Prime membership prices across its major European markets.
It follows a 17% increase in fees for US customers that was introduced in February and similar moves by rivals such as Netflix Inc (NASDAQ:NFLX).
READ: Netflix announces first ever price rise for UK basic package
Prime services offer unlimited next-day delivery on some products and streaming services covering TV, film, music, games and books.
Amazon is due to report its second-quarter results on July 28 at a time when digital advertising revenues are tumbling on online platforms.
READ: Will Amazon stave off declines in digital advertising?