Is Amazon Prime worth its new $119 price tag?

Amazon AMZN, +3.60% raised the annual fee for its Prime membership program for the first time since 2014 — but that doesn’t necessarily mean it’s less of a bargain for most consumers.

The online retailer announced that it will hike the annual fee for a Prime membership in the U.S. by 20% to $119. The change comes as Amazon revealed that it now has more than 100 million people globally who are members of the program. In January, Amazon raised the price of monthly memberships from $10.99 to $12.99 per month. The price change will go into effect starting May 11 for new members and starting June 16 for existing members when they renew.

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