It’s official: Amazon Prime price will increase by 25% next week

Bad news, Amazon customers: the cost of Amazon Prime goes up next week. After batting around the idea of increasing the annual cost of its Prime subscription service by as much as $40, Amazon finally settled on a slightly lower figure. As of next week, Amazon Prime will cost $99 per year instead of $79, CNBC reported.

The company is encouraging customers to sign up for Prime within the next seven days in order to lock in their first year of service at the current $79 rate.

Amazon Prime allows subscribers to access a library of streaming TV shows and movies, and it also affords free 2-day shipping on applicable orders. For current Prime subscribers, it looks like the existing rate of $79 per year will not be grandfathered, and Prime subscriptions will jump to the new $99 rate when it comes time to renew them.