Amazon Is Raising Its Annual Prime Fee From $99 To $119

Ted S. Warren / AP

Amazon is raising its annual prime fee from $99 to $119 beginning May 11, the company told investors while reporting first quarter earnings Thursday.

"There’s all kinds of new features that we’ve continually added to the Prime program," Brian Olsavsky, Amazon's chief financial officer, told investors Thursday, noting customers can now get products within two hours. "It's much different than it was in 2014. This is a reflection of that — a better reflection of...