Amazon Music prices to rise for Prime subscribers

Amazon is raising the price of its music streaming service. 

In a post on its website, the company said the hike will begin on May 5. 

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Amazon Prime members will have to pay $8.99 a month or $89 annually for access to Amazon Music Unlimited, up from $7.99 a month and $79 a year. 

In addition, the Amazon Music single-device plan is changing, rising to $4.99 a month from $3.99. That plan lets users listen to the full library but only from a single Echo or Fire TV device.

The price for Amazon Music Unlimited will remain unchanged for non-members at $9.99.

Those in a trial period or in part of a promotional offer will continue to receive discounted rates for the remainder of the promotion period.

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Ticker	Security	Last	Change	Change %
AMZN	AMAZON.COM INC.	210.71	+2.82	+1.36%

"Once that period ends, we will honor the original subscription price plus applicable taxes for one billing cycle. The new pricing plus applicable taxes will go into effect on the bill after that," Amazon said.

Amazon said that the price increases were necessary to help bring "even more content and features." 

Currently, Amazon Music Unlimited offers 90 million songs and podcasts. 

Prime Student offers Amazon Music Unlimited for 99 cents a month.

Amazon Music Prime – a pared-down version of the service included with a Prime subscription – allows users to access 2 million songs. 

This comes weeks after Amazon increased its Prime subscription prices for the first time in four years to $139 from $119 annually, or to $14.99 from $12.99 monthly.

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Amazon attributed the increases to inflation, which is at the highest level in four decades. 

FOX Business' Daniella Genovese contributed to this report.