Amazon to increase Prime subscription price for first time in eight years

Amazon is to hike the price of its Prime delivery and streaming service for the first time in eight years due to “increased inflation and operating costs”.

The technology giant will increase the price of Prime from £7.99 each month to £8.99 from September 15 for new customers, or on the date of the customer’s next renewal.

Annual membership will increase from £79 to £95 per year in the UK.

A spokeswoman for the company said: “Prime offers the best of shopping and entertainment, and continues to improve each year.

“We have increased the number of products available with fast, unlimited Prime delivery, recently added ultra-fast fresh grocery delivery, and have significantly expanded our high-quality digital entertainment, including TV, movies, music, games, and books.

“With increased inflation and operating costs in the UK continuing to rise, we will change the price of Prime.”

Amazon has pumped billions of pounds into its streaming content in recent years, with original series such as The Boys and The Terminal List.

In September, the Prime Video platform will release The Lord Of The Rings: The Rings Of Power series, which cost an estimated £750 million in rights and filming costs.

The company is also investing millions into sports rights, having earlier this month secured the rights to show some Champions League matches from 2024, adding to its rights for 20 Premier League games each season.

The Prime price increase is the service’s first since 2014.

It comes months after Netflix increased basic and standard plans by £1 a month, while its premium plan was pushed £2 higher, only 18 months after a previous increase.

Want a quick and expert briefing on the biggest news stories? Listen to our latest podcasts to find out What You Need To Know...