Amazon Prime customers will see costs rise by £16 a year this week.

The cost of an Amazon Prime subscription will rise on Thursday as the cost-of-living crisis continues to bite for many.

Amazon say the hike in price of its delivery and streaming service is due to “increased inflation and operating costs”.

The technology giant offers free unlimited delivery, entertainment streaming and live sport through the Prime service.

How much is Amazon Prime price rise?

It said it will increase the price of Prime from £7.99 each month to £8.99 this month.

The rise means an annual Amazon Prime membership will rise in cost from £79 to £95 per year in the UK.

 

The Prime price increase is the service’s first since 2014.

It comes months after Netflix increased basic and standard plans by £1 a month, while its premium plan was pushed £2 higher, only 18 months after a previous increase.

When will Amazon Prime prices rise?

The Amazon Prime price rise will come into force from September 15 for new customers, or on the date of an existing customer’s next renewal

A spokesman for the company said: “Prime offers the best of shopping and entertainment, and continues to improve each year.

“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.”

Amazon has pumped billions of pounds into its streaming content in recent years, with original series such as The Boys and The Terminal List.

In September, the Prime Video platform will release The Lord Of The Rings: The Rings Of Power series, which cost an estimated £750 million in rights and filming costs.

The company is also investing millions into sports rights, having earlier this month secured the rights to show some Champions League matches from 2024, adding to its rights for 20 Premier League games each season.