Amazon to hike Prime subscription prices by up to 20%
AMAZON is increasing the price of its Prime delivery and streaming service for the first time since 2014.
The technology giant said that it will push up the price of its Prime contracts from £7.99 to £8.99 from September 15, for new customers or at the date of next renewal.
That rise will increase the annual membership from £79 to £95 a year in the UK at a time when thousands of Brits are cancelling their subscriptions due to the cost of living crisis.
Amazon has spent an estimated £750 million filming its The Lord of the Rings: The Rings of Power series and is rolling out more big-budget movies such as The Boys and The Terminal List.
It has also spent millions on sports rights, including 20 Premier League games and some Champions League matches from 2024.
A spokesman for Amazon said: “Prime offers the best of shopping and entertainment, and continues to improve each year.
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“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.”
“If you feel you aren’t getting value for money from your monthly Amazon Prime subscription, you can cancel penalty-free," Nick Baker, from uSwitch.com said.
"If you paid for the year in advance, log into your Amazon account to check when it’s set to automatically renew - if you cancel now your membership will run until this date.”
It comes after Netflix increased the price of its most popular package by £2 to £10.99 and its basic plan, which is just one screen and one device, by £1 to £6.99.
How do you cancel your Amazon Prime subscription?
If you pay for Amazon Prime, you can cancel the service by going to your Amazon Prime Account page when logged into Amazon.
Then click "Manage" where you'll have the option to update, cancel and more.
Choose "End membership" on the left-hand side of the page.
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mazon offers free Prime trials of 30 days or six months for students.
But if you've taken out one of these trials and don't want it to automatically start charging you, you need to remember to cancel the service before the trial expires.
To do this, go to "Manage Your Prime Membership" when you're logged into Amazon.
Then select "Manage" where you'll have the option to update, cancel and more.
Click "End trial and benefits" to cancel.
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You'll cancel your registration and the payment card you signed up with won't be debited.
If you don't cancel at the end of the trial period you'll be converted to a full membership and charged either the monthly or yearly fee.