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Amazon is increasing the price of its annual Prime membership. Heres when it starts
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Amazon will raise its yearly subscription price to Amazon Prime from $99 to $119 per year, according to multiple news reports.

Amazon announced the change during a call with investors Thursday.

The change will begin May 11 for new users. Customers who want to renew their subscriptions will notice the price change June 16.

"We continue to increase the value of Prime," Amazon CFO Brian Olsavsky said, according to CNN Money.

Amazon said it has seen increased costs for multiple Prime services, including shipping and video streaming.

The increase will be the first jump for Amazon Prime since 2014 when the price spiked from $79 to $99 that year, CNN reported.

The company raised the monthly price of Amazon Prime earlier this year, though, from $10.99 to $12 per month.

Amazon also announced an expansion of its services, inking a $130 million deal to stream Thursday night NFL games, according to CBS Sports.

Amazon first acquired the streaming rights in 2017 after outbidding other streaming video companies, like Facebook, Twitter and YouTube.

The retail giant will stream 11 games beginning with the Minnesota Vikings vs. Los Angeles Rams game during Week 4, CBS reported.

Last week, Amazon CEO Jeff Bezos explained in a letter to shareholders that Amazon has more than 100 million Prime subscribers.

This marks the first time the company has ever shared subscription numbers for the platform, according to The Verge.
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