Amazon hikes Prime pricing to $99 per year

CNBC
A parcel moves on the conveyor belt at Amazon's logistics centre in Graben in this file photo
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A parcel moves on the conveyor belt at Amazon's logistics centre in Graben near Augsburg in this file photo from December 16, 2013. Amazon.com Inc reported a $239 million fourth-quarter net profit January 30, 2014, helped by strong U.S. sales during the most competitive holiday season since the recession. REUTERS/Michaela Rehle/Files (GERMANY - Tags: BUSINESS EMPLOYMENT)


Amazon.com (AMZN) is hiking prices on Prime, its premium membership tier, to $99 per year from the current $79, the online retail giant announced on Thursday.

The new pricing will take effect when customers make their annual renewal. According to the company, the Prime Fresh membership will remain unchanged at $299, and student members will pay $49 per year.

Currently, Prime offers customers free two day shipping. The company is working toward broadening the offerings of its premium service, which in the future could include streaming music.

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--By CNBC

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