TIME

Amazon Prime Hikes Price to $99

An employee stacks items to be shipped at the Amazon.com Inc. fulfillment center in Phoenix Dec. 1, 2013.
An employee stacks items to be shipped at the Amazon.com Inc. fulfillment center in Phoenix Dec. 1, 2013. David Paul Morris—Bloomberg/Getty Images

The online giant plans to increase the yearly fee for its Amazon Prime service by 25 percent, starting next week, and says current subscribers will pay the new price if and when they renew their premium membership

Amazon Prime users, take note. The online giant announced on its website that, “For the first time since it was introduced nine years ago, the price of Prime is going up.”

In seven days, the premium membership will rise about $20 from $79.99 a year to $99. Current subscribers will be notified of price changes when their membership is set to renew. The 25% increase is less of a price jump than Amazon hinted at during a quarterly earnings call in January. The company said that the price could have jumped by $40, or 50% of the original fee.

Students with a “.edu” email address will pay $49 for an Amazon Prime membership.

Amazon Prime allows users to get unlimited, free two-day shipping on various purchases as well as unlimited access to Prime Instant Video and the right to borrow books from Kindle’s lending library.

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