Amazon is Raising Prime Membership to $139

We all know the company is losing money 😂

After posting $14.3 billion profits, Amazon hikes price of Prime membership

Photo by Christian Wiediger on Unsplash

The Main Points

• On Thursday February 3, Amazon announced its raising the price of the annual Prime membership from $119 to $139.
• Amazon last rose the price of its Prime membership in 2018. Back then, it also raised it by $20.
• Membership price is being raised as Amazon continues to expand benefits for members, saw increased costs related to transportation, wage inflation, and a tight labor market.
• The COVID Pandemic is to blame as well. 🙄 Couldn't that only have increased profits as everyone stayed home and ordered safety pins to electric fireplaces and everything else under the sun from them?
• Amazon said in 2021, Prime members received more than six billion free deliveries and more than 200 million members worldwide streamed TV shows and movies on Prime Video.

But:

• Amazon’s revenue rose to a record $137.4 billion in the fourth quarter of 2021, of which $14.3 billion was profits.
• Amazon CEO Andy Jassy touted in a news release the company’s…