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Spaceman Bezos feeling the pinch? Amazon increase cost of Prime membership and people are not impressed

Amazon's UK operation saw revenues surge past £23 billion for the first time recently. Jeff Bezos is worth $129.6 billion alone!

Joe Mellor by Joe Mellor
2022-07-26 11:05
in Business
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Amazon is to hike the price of its Prime delivery and streaming service due to “increased inflation and operating costs”.

The technology giant offers free unlimited delivery, entertainment streaming and live sport through the Prime service.

It said it will increase the price of Prime from £7.99 each month to £8.99 from September 15 for new customers, or on the date of the customer’s next renewal.

Annual membership will increase from £79 to £95 per year in the UK.

Revenues

Its UK operation saw revenues surge past £23 billion for the first time amid the pandemic-fuelled online boom.

A surge in demand for online retail, as high street rivals were shut during the first months of the year, resulted in higher sales.

Revenues increased by 12.4 per cent to £23.19 billion for 2021.

Jeff Bezos is worth $129.6 billion.

Reactions

One of the richest companies in the world increases prices as people are struggling to pay the bills hasn’t gone down that well…

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1.

Reminder. Jeff Bezos could spend a million dollars every single day for five hundred and seventy-eight years and not go broke.https://t.co/gUEORbwM1o

— David Traynier Ⓥ🍉 (@DTraynier) July 26, 2022

2.

People also ask
How much did Amazon make in 2022?
What is Amazon's annual profit?
Amazon gross profit for the twelve months ending March 31, 2022 was $201.308B, a 20.06% increase year-over-year. Amazon annual gross profit for 2021 was $197.478B, a 29.28% increase from 2020.

— Andrew Welch (@AndrewW231975) July 26, 2022

3.

Amazon is increasing the price of Prime in the UK for the first time since 2014 in September. It’s going from £79 to £95 per year, a massive 20% jump pic.twitter.com/heX2xcNwIG

— Tom Warren (@tomwarren) July 26, 2022

4.

Just seen Amazon are putting up my prime membership by £16. Makes sense in such tough times, especially as they only made profits of $14.32 billion last year.

— Charles21 (@Charles1980Eko) July 26, 2022

5.

Didn’t the CEO go into space?

— RomoRalphWiggum (@Futurenoir100) July 26, 2022

6.

We're in the middle of a cost of living crisis, lads. #AmazonPrime pic.twitter.com/yKIOFjRZNw

— D'Arcy Lindsay (@poisonousdarce) July 26, 2022

Related: ‘It’s getting worse’: Inflation rises to eye-watering 9.4%

Tags: Jeff Bezos

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