Amazon is raising the price of a Prime membership for the first time in four years, the company announced during its quarterly earnings report on Thursday. Amazon cited its new NFL deal to stream Thursday Night Football and expanded entertainment offerings, THR reports.
An annual Amazon Prime membership will go from $119 to $139, while monthly will go from $12.99 to $14.99. Price changes go into effect on February 18 for new subscribers, while current subscribers will see their first renewal period after March 25 reflect the change.
In addition to paying the NFL $1 billion for the rights to stream Thursday Night Football, Amazon has also significantly expanded its streaming library with exclusives like The Boys, Wheel of Time, and the upcoming Lord of the Rings: Rings of Power series. Buying the rights to Lord of the Rings in 2017 cost Amazon more than $200 million, and a first season that reportedly cost more than $465 million to produce, making it one of the most expensive television series ever made.
Amazon also said that more than 200 million Prime members had streamed its library of shows and movies, and cited same-day delivery, pharmacy delivery, and Amazon Music as factors in its decision to raise Prime costs.
Amazon reported other Q4 results, including $137.4 billion in net sales and $14.3 billion in net income. For 2021, it generated $470 billion in total net sales and $33.4 billion in net income. Amazon says it expects to have net sales in 2022 totaling somewhere between $112 billion and $117 billion.
Image credit: Daniela Vasquez/Getty Images.
Joseph Knoop is a writer/producer for IGN.
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An annual Amazon Prime membership will go from $119 to $139, while monthly will go from $12.99 to $14.99. Price changes go into effect on February 18 for new subscribers, while current subscribers will see their first renewal period after March 25 reflect the change.
In addition to paying the NFL $1 billion for the rights to stream Thursday Night Football, Amazon has also significantly expanded its streaming library with exclusives like The Boys, Wheel of Time, and the upcoming Lord of the Rings: Rings of Power series. Buying the rights to Lord of the Rings in 2017 cost Amazon more than $200 million, and a first season that reportedly cost more than $465 million to produce, making it one of the most expensive television series ever made.
Amazon also said that more than 200 million Prime members had streamed its library of shows and movies, and cited same-day delivery, pharmacy delivery, and Amazon Music as factors in its decision to raise Prime costs.
Amazon reported other Q4 results, including $137.4 billion in net sales and $14.3 billion in net income. For 2021, it generated $470 billion in total net sales and $33.4 billion in net income. Amazon says it expects to have net sales in 2022 totaling somewhere between $112 billion and $117 billion.
Image credit: Daniela Vasquez/Getty Images.
Joseph Knoop is a writer/producer for IGN.
Continue reading...