Following its competitors' lead, Amazon is set to increase the price of its video streaming and other Prime services.

From September, the price of monthly Prime membership will increase from £7.99 to £8.99, while the price of the annual Prime membership will increase from £79 to £95 per year.

Prime’s student membership will increase to £4.49 per month and the price of the annual membership will increase to £47.49.

The quietly announced adjustments to the retail giant’s fast delivery and associated media services packages marks the first price increase since 2014.

The move follows fellow streaming services Disney Plus and Netflix’s price increases, both of whom recently raised their monthly subscription fees from £5.99 to £7.99 and from £8.99 to £10.99 respectively.

Around 19 million over-16s are estimated to be individual Prime members, up from 15 million in 2019, according to the market research firm Mintel.

Mintel’s research has also shown that Prime membership peaks among younger consumers, with almost two-thirds - 64 per cent - of 16-34s now having access to the service.

Prime delivery is the most used service, but the video streaming service grew the fastest during the pandemic, with 62 per cent of members regularly using it in 2020.

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