Amazon made a brief announcement during an investors call this afternoon that the company was raising the rates of it’s annual Prime service subscription from $99 a year to $119 a year. The $20 increase takes effect officially on May 11th while anyone who renews before June 16th will be able to upgrade at the previous rate. This isn’t the first time the company has made a Prime price increase this year. In January, the company increased it’s monthly subscription price from $10.99 to $12.99.

With now over 100 million subscribers, the rate increase gives Amazon greater income on the Prime service, which they claim will offer better digital services and features. Hopefully the increase will lead to better content on the Prime Video service as the company is lagging behind Netflix in original content. Amazon’s Prime gives customers free two-day shipping, video-on-demand, and streaming music in one package, although if you want more music than the limited Prime Music, you will have to subscribe to the Amazon Music package. Still, the benefits of the service may yet make up for the price increase. Let’s just hope this doesn’t start a trend among other content providers.