Amazon Prime, one of the oldest and most popular subscription services in India, is going to face a price hike, 5 years after it entered the second largest internet market in the world. After the hike, the annual subscription will cost ₹1499, which is 50% higher than the ₹999 from before.
Moreover, monthly and quarterly subscriptions will also cost more, coming at ₹459 and ₹179, up from ₹329 and ₹129 from before.
“Since the launch 5 years ago in India, Prime has continued to increase the value it offers members. Prime provides an unparalleled combination of shopping, savings, and entertainment benefits to make life more convenient and entertaining every single day, and we continue to invest in making Prime even more valuable for customers,” an Amazon spokesperson said.
The company has not announced when these price hikes will come into effect, but the spokesperson said that it will be very soon.
Amazon Prime provides access to one day delivery on millions of products, as well as other Amazon led features like Prime Video, Amazon Music etc.
However, the most popular use-case of the Prime Membership continues to be Prime Video, which is used by millions of people across the country to watch shows like Family Man, The Boys and more. However, the competition in the streaming market has been consistently growing, and Amazon has not hiked the price of its subscription ever since launch day.
Thus, to make sure that it can still survive in this very saturated sphere, the company has decided to take a bigger cut. It has also been investing heavily into making new India specific content, with shows like Family Man, Mirzapur, Comicstaan etc.
Moreover, the company also announced Prime Video Channels a few weeks ago, allowing customers to access more streaming services on its platform. This marketplace includes the likes of Disney+, Lionsgate Play, Eros Now, and others.