AmazonThe company raised the annual Prime membership price to $139, from $119. This announcement was made as part of the fourth quarter earnings results.

Prime’s price was hiked last year by Amazon, when it went up to $119 (from $99). The subscription fee was raised to $99 by Amazon four years prior, from $79.

Amazon has increased its annual price by 17%. Amazon said that it also increased the price for Prime members from $12.99 to $19.99 per month.

Amazon stock rose by more than 14% in extended trading on Thursday.

Amazon Prime was launched in 2005 and offers members free 2-day shipping. Members also have access to special movies and TV programs. Since 2005 last AprilIt had over 200 million users worldwide. 

Amazon’s membership program is still one of its biggest growth opportunities. Prime customers spend significantly more than those who are not Prime, and also they shop more frequently.

Amazon raises Prime’s price to meet the double challenges of supply chain disruptions continuing and labor shortages. In order to retain workers, the company increased wages and paid generous bonuses for signing. It rerouted parcels over more expensive distances in order to avoid disruptions during delivery.

Amazon is now paying more to keep Prime members connected. The company spends billions of dollarsEach year, Amazon adds more music and video content to its streaming services. Amazon has invested a lot of money in the recent past to expand its fulfillment and logistics network. make one-day shipping the default nationwide.