Amazon Australia has implemented its first price hike for the Prime subscription service since its 2018 launch.

The Prime subscription price will jump from $6.99 to $9.99 a month –  a 42 per cent increase.

Yearly subscriptions will also leap significantly, up from $59 to $79 a year — a 33 per cent jump.

Although this isn’t likely to win the company any fans, their streaming offering is still cheaper than Netflix, Disney +, Binge, and Stan – and comes with free shipping on a number of items through Amazon, plus a music streaming service.

Amazon Australia’s head of Prime, Marcos Regalo, said the company is building its offer, and the price rise reflects this.

“With the continued expansion of Prime member benefits, and so we can continue growing the offering, we will change the price of Prime,” he said.