After Amazon unveiled record fourth-quarter profits, there's terrible news for patrons: the Amazon Prime price increase.

Annual subscribers' fees of the service climb from $119 to $139, while monthly members' prices will jump from $13 to $15.

Amazon Prime has around 172 million subscribers as of December 2021, according to a report from Consumer Intelligence Research Partners. Each of the past two years, Amazon has added 30 million new subscribers, the report added.

This is the first Amazon Prime price increase announced since 2018, per Al Jazeera. Despite a severe labor shortage and supply-chain issues, Amazon has committed billions of dollars to ensure that goods reach customers on time. Among other things, Prime members have access to movies, sports programming, and photo storage features.

Moreover, there will also be a price hike for students and other subscribers that belong to the low-income bracket. Prime Student subscribers will need to pay $7.50 per month or $69 per year. For recipients of Electronic Benefit Transfer and other qualified forms of government assistance, the monthly price will go up from $6 to $7.

Read Also: Facebook Lost Daily Users For The First Time in History as Stocks Plunge; What Went Wrong? 

How to Stop Amazon Price Increase, Keep It $119 Until 2023 

For new Amazon Prime memberships, the price increase will take effect on February 18. The pricing change will take effect on the first renewal payment after March 25 for existing customers.

For those who are considering getting an Amazon Prime subscription, it is advised to do it now because if you pay for an annual subscription before then, you'll get locked in the $119 yearly rate until 2023, per Cnet,

Existing Amazon Prime subscribers should check their accounts to verify if they are on a monthly or yearly subscription. If you convert from a monthly to a yearly subscription, you'll get the $119 pricing until the following year.

Considering the fact that the cost is rising, this is one technique to get the most out of your current subscription or take advantage of the previous pricing before it expires.

There Are Other Options But...

Amazon Prime originally launched with unlimited free two-day shipping for a large number of its products, and that main service remains its most popular benefit. However, per CNN, Amazon Prime has since expanded its offerings and now includes many other benefits.

Some of the biggest services Amazon Prime provides to its subscribers are the following: Free two-day, next-day, or same-day shipping; Free grocery delivery via Amazon Fresh; Discounts at Whole Foods; Prime Video free streaming; Free streaming music with Amazon Music; Prime Reading's free magazines and books; Limitless photo storage on Amazon Photos.

Competing services may become more appealing when the Amazon Prime price increase takes effect, but there are limited options available. Walmart Plus, which costs $98 a year, offers expedited shipping and groceries, but it lacks Amazon Prime's excellent selection of TV series, movies, music, and games.

Related Article: 'Squid Game' Director Explains What the Hit Netflix Series Is Really About, Shares Special Connection With Gi-hun, Sang-woo