Your Amazon Prime fees are going up

Amazon is raising the price of Prime monthly memberships by nearly 20 percent

The new Amazon Prime comes out to around $156 per year. While $155.88USD doesn't seem like much, when compared to the yearly rate of $99USD it makes one think. Student and non-student annual member prices won't go up.

That same fee is jumping for the monthly program for students, as well, from $5.49 to $6.49.

Besides free two-day shipping, Prime members get other perks, such as access to Amazon's video and music streaming services. That's over a 50 percent increase compared to the $99 annual rate for Amazon Prime.

For US customers only seeking Amazon video, the cost will be $8.99 a month.

Instead of a monthly fee, Amazon also offers an annual fee of $99 Cdn for Prime membership, and there are no plans to change that.

A study released previous year by researcher Consumer Intelligence Research Partners (CIRP) estimates that there are 90 million US -based Amazon Prime subscribers.

MORE: What Is Amazon Prime?

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Amazon has also had success with its Prime Now service.

Amazon is notifying affected Prime subscribers about this change via email.

The cost builds come as Morgan Stanley sees signs that Amazon Prime's development is beginning to moderate.

As of September, Amazon had about 90 million Prime members in the United States, according to research firm Statista. The report says Prime customers tend to be loyal, with 95 percent of current subscribers saying they'll either "definitely" or "probably" renew their membership.

"We also continue to introduce popular and award-winning Prime Originals, like The Grand Tour, Sneaky Pete, and the Golden Globe-winning The Marvelous Mrs. Maisel - all included with Prime Video", the company wrote. According to Variety, the company spent $4.5 billion on content in the a year ago.

Amazon's price increases seem to be going against the grain of its initiative a year ago to offer a cheaper membership to shoppers on government assistance.

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