Amazon considers price hike for its Prime membership

February 3, 2014 12:16:31 PM PST
Amazon says it might charge customers more for a popular membership service.

Amazon is considering raising the price of its prime membership by as much as $40 dollars, a 51 percent increase. Amazon Prime currently costs $79 per year.

Prime members get two-day shipping at no extra cost, and can also borrow Kindle E-books and stream movies.

Amazon says it's considering the price hike to help offset rising costs.