On an earnings call this afternoon, Amazon’s chief financial officer Brian Olsavsky dropped an unexpected bit of information: The price of Amazon Prime is increasing to $119.
Prime, which gives customers of the ecommerce giant a variety of perks in addition to free shipping, hasn’t changed its annual price from its current $99 rate in around four years—although the company announced it would jack up the cost for monthly subscribers earlier this year. In his letter to shareholders, CEO Jeff Bezos announced Prime had surpassed 100 million subscribers in 2017.
Olsavsky elaborated that Prime is now “much different than it was in 2014,” citing new features for subscribers as well as an estimated 100 million products available for free two-day shipping, compared to around 20 million available in 2014.
The change will take effect June 16th.