Amazon to increase Prime subscription price by up to 43 percent in these countries
Tech giant, Amazon is set to increase the prices of its Prime subscriptions in the UK and Europe by up to 43 percent from September this year, the first such increase in the UK since 2014. In an email to customers blaming “increased inflation and operating costs” for the raise, the e-commerce giant said that its annual Prime subscription will jump 20% in the UK from 79 pounds to 95 pounds from September 15, According to The Verge (American technology news website). Here’s what you need to know about the new Prime subscription prices and other details.
Amazon Prime Video
Television channel
- Users: 175 million; (as of April 29, 2021)
- Parent: Amazon
- Headquarters: Seattle, Washington, United States
- Subsidiaries: Video Direct
The report claims that there will be a 43 percent hike in prices in France. Those living in France will reportedly need to spend EUR 69.90 per year, which when converted is about INR 5,640. In Italy and Spain, the price will be 49.90 Euro (about INR 4,032). This is an increase of 39 percent. In the UK, the annual cost will be £95 (approximately INR 9,070), while those living in Germany will pay 89.90 euros (approximately INR 8,590). The UK is reportedly Amazon’s third largest market after the US.
According to reports, “rising inflation and operating costs” are the main factors driving up the price of an Amazon prime membership. Reports further stated that Amazon claimed the price increase was required to timely provide high-quality content. The price hike report comes just days before Amazon is set to report its Q2 earnings results. In April of this year, Amazon reported its first quarterly loss in seven years, and the company claimed that rising costs of fuel, transportation, and warehouse storage were behind the loss.
The brand raised the price in the US market by 20% later in February of this year. In the US, Amazon Prime now costs $14.99 (about INR 1,120) per month, up from $12.99. The price of an Amazon Prime subscription is $139 per year (around INR 10,300). India is not on Amazon’s list when it comes to increasing the price. In October 2021, the company released new pricing for the Indian market. The cost of an Amazon Prime membership in India has increased from INR 129 to INR 179 per month. The cost is INR 459 for three months and INR 1,499 for a year.
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