Amazon raising annual fee for its Prime expedited-shipping and media-streaming service to US$99 from US$79; company notes price of Prime had remained unchanged for nine years

March 13, 2014 () – Inc told customers on Thursday that the annual membership fee for its Prime shipping and media streaming service would go up to $99 from $79 next week, the first time it has increased the price since the service began in 2005.

In January, the online retailer said it was considering a $20 to $40 increase in the annual fee.

"Even as fuel and transportation costs have increased, the price of Prime has remained the same for nine years," Amazon told Prime members in an email. The new fee was also advertised on its website.

Amazon's Prime unlimited two-day shipping and online streaming of movies and television shows is considered instrumental to driving purchases of both goods and digital media.

(Reporting by Phil Wahba and Franklin Paul in New York; Editing by Lisa Von Ahn)

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