Amazon to raise cost of monthly Prime membership by $2 in February

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Amazon said current monthly Prime and Prime Student customers will start paying the new price for renewals after February 18.

If Amazon Prime customers in the USA choose to pay monthly, they will be paying $155.88 in total across a 12-month period.

E-commerce leader Amazon (AMZN) is raising the fee of its Prime membership program for those who pay on a monthly basis, but those who pay annually will see no change to their $99 fee. The price of an annual Prime Student subscription is remaining the same at $49. Amazon said it shipped more than 5 billion items through Prime this past year. "We also continue to introduce new, popular and award-winning Prime Originals.Members also enjoy a growing list of unique benefits like Prime Music, Prime Reading, exclusive products and much more".

Annual Prime members continue to pay $99.

The Prime service has proven a revenue boon for Amazon. Amazon began offering the monthly Prime package back in 2012 at $7.99. The new Amazon Prime comes out to around $156 per year.

Amazon's monthly Prime price hikes could also help convince some customers that it's more worthwhile to become annual Prime members.

Apple announced 20000 new jobs investing $30 billion over forthcoming years
During the 2016 presidential campaign, Donald Trump criticized Apple for sourcing and manufacturing its products mostly overseas. The announced payment was roughly in line with expectations, said Cross Research analyst Shannon Cross.

Monthly payments for student membership is increasing from $5.49 to $6.49 a month.

That isn't the only membership fee rising, either.

As Amazon cancels some of its original content, it needs added incentive to keep customers invested while they produce more projects like the epic and epicly expensive Lord of the Rings series it's now developing.

While Amazon has declined to say how many members it has, analysts estimate that it boasts nearly 90 million in the United States and has rapidly growing global numbers.

Prime subscribers can store unlimited photos, while Early Access gives members 30-minute early access to some Lightning Deals.