Amazon.com Inc on Friday raised the monthly fee for Amazon Prime, its fast-shipping, and video-streaming service, to $12.99 from $10.99, while maintaining the annual fee.
The company also hiked the monthly subscription fee for Amazon Prime Student members, its service targeting college students, to $6.49 from $5.49, reports Reuters.
Existing monthly Prime and Prime Student members will pay the new price for renewals after Feb. 18, Amazon said on its website.
The annual Prime membership fees would remain at $99 and for student members at $49. Amazon had hiked the annual fee for the service by 25 percent to $99 in 2014. Amazon Prime is a key growth driver for the company as members tend to buy more from the e-commerce giant.
Revenue from subscription fees that include Prime jumped 59 percent to $2.4 billion in the quarter ended Sept.30. Amazon’s shares were up 1.2 percent at $1,309.00 in early trading on Friday.