Amazon To Raise Prime Membership to $99

Amazon.com is raising the cost of its annual membership fee for its Prime shipping and media streaming service $20 beginning next week. The company notes the increase is the first since 2005.

In January, company executive told investors it was considering an increase in the annual in the range of $20 to $40.

The news was announced in an email to current customers and was also posted on Amazon.com.

An Amazon Prime subscription includes unlimited two-day shipping as well as streaming of movies and television shows as part of the Amazon Instant Video service.

Amazon has declined to reveal the number of Amazon Prime subscribers or the number of subscribers who use the streaming media service.