Amazon announced on its home page today that it has raised the price of its Prime subscription service from $79 to $99 per year.

Prime gives you access to unlimited free two-day shipping on many items, plus access to thousands of streaming movies and TV shows through Amazon Instant Video, a service similar to Netflix. There have also been reports that Prime members will soon get access to a Spotify-like streaming music service.

Students with a .edu email address can sign up for Prime for $49 per year.

Amazon quietly announced the Prime price increase on its home page today. It won't go into effect for another week, and Amazon will let you sign up for the old $79 price until it does.

The price increase shouldn't come as a surprise. Earlier this year, Amazon said it may raise the Prime subscription as much as $40.

Thanks to Bloomberg's Jon Elrichman for noticing the Amazon Prime increase.



NOW WATCH: Here's How Much Soda You Have To Drink To Make It Worth Buying Your Own SodaStream