Amazon is increasing the price of its Prime membership from $99 to $119 starting on May 11.
The company just announced the price increase on its first quarter earnings call, attributing the spike to the service's rising costs, and noting that this was its first price hike since March 2014.
Amazon Prime, which has more than 100 million paid members worldwide, gives members free two-day shipping on lots of products, as well as access to exclusive TV shows, movies, and music.. . . more