Customers Calling to 'Cancel' Amazon Prime After New Price Hikes Announced The new price hikes will go into effect on February 18 for new Prime members and after March 25 for existing members.

By Emily Rella

picture alliance | Getty Images

Bad news for loyal Amazon shoppers.

The retail giant announced that it would be increasing prices on its beloved Prime services by a whopping 17%, citing inflation and the need to offset costs due to pandemic-related disturbances, namely labor and transportation costs.

Annual Prime memberships will increase from $119 to $139, while monthly subscriptions will increase from $12.99 to $14.99, the first time increases in the service have been implemented since 2018.

The new price hikes will go into effect on February 18 for new Prime members and after March 25 for existing members.

Related: Netflix Is Raising Prices in the U.S.

Suffice it to say, customers and Amazon fans were less than thrilled about the new increases, calling for people to "cancel" the service and accusing Amazon founder and former CEO Jeff Bezos of using the money for his own personal benefit.

"With Amazon Prime going up in price after making billions of dollars in profits, after price gouging, after abusing their employees and union busting ALL DURING A PANDEMIC maybe you all should think about just canceling that sh*t?," one user said.

"Time for me to cancel Amazon Prime. They don't even have consistent 2-day shipping anymore, and now they're going up in price," another quipped.

Related: Parents of Amazon Worker Killed in Tornado are Suing the Company: 'Amazon Placed Profits First'

Amazon shares skyrocketed 17% after-hours on Thursday after an earnings report from the company's Q4 2021 showed impressive success, with overall sales increasing over 9% from the same time last year, bringing in a revenue of $137.4 billion.

The online retail giant isn't the only company to introduce impending price hikes for subscribers new and old.

Last month, Netflix announced that it would be increasing prices between $1 and $2 to help the streaming company pay for new programming to keep it competitive with other streaming platforms.

Amazon was down over 5.59% year over year as of early Friday afternoon.

Emily Rella

Entrepreneur Staff

Senior News Writer

Emily Rella is a Senior News Writer at Entrepreneur.com. Previously, she was an editor at Verizon Media. Her coverage spans features, business, lifestyle, tech, entertainment, and lifestyle. She is a 2015 graduate of Boston College and a Ridgefield, CT native. Find her on Twitter at @EmilyKRella.

Editor's Pick

Related Topics

Business Ideas

This Teacher Sells Digital Downloads for $10. Her Side Hustle Now Makes Six Figures a Month: 'It Seems Too Good to Be True, But It's Not.'

When one middle school teacher needed to make some extra income, she started a remote side hustle with no physical products and incredibly low overhead. Now she brings in six figures each month, and offers courses teaching others how to do the same.

Living

'I Haven't Ticked All the Boxes Yet.' Hilary Duff Reveals Her Next Venture After More Than 2 Decades in the Spotlight — and the Surprisingly Relatable Key to Her Enduring Success

The actor talks entrepreneurship, secrets to success and her latest role as chief brand director for Below 60°, a product line of air fragrances.

Leadership

Great Leaders Must Be Great Coaches — Here's How to Become One

To be a successful leader, you must become an expert in how to help others grow and develop. Here's a research-driven approach for entrepreneurial leaders to coach and effectively develop their teams.

Leadership

How to Win Over the Room With Effective Persuasion Skills

The art of persuasion is not just about the notes, the data, and the pitch; it's about creating a connection that resonates with the audience. We explore how a blend of story, active listening, and genuine interaction can not only capture attention but also win hearts and minds, setting the stage for achieving success in any meeting.

Business News

An Ivy League University Is Teaching the Secret of Taylor Swift's Success

Several major universities have added courses dedicated to studying Swift's star power.

Marketing

Google Is About to Delete Inactive Accounts. Here's How to Avoid A Massive Gmail Bounce Rate.

Google will start deleting inactive accounts soon. For businesses like yours, that means many Gmail contacts will probably bounce. Here's how you can avoid that – and keep your business emails landing in the inbox.