Now might be a good time to migrate from your recently jacked-up monthly Amazon Prime plan to a heavily discounted yearly subscription, as the latter option’s price is also about to go up in the near future.

Launched way back in 2005 as a free two-day shipping program fetching a flat annual fee of $79, the service has greatly evolved and expanded in the past few years, only getting a $20 hike in March 2014.

The time has now come for the yearly membership fee to surge another 20 bucks, to $119, which still feels very reasonable given everything you’re receiving in exchange. We’re talking both free two-day shipping on over 100 million items and same-day delivery on a million+ items in over 8,000 cities and towns nationwide, as well as included Prime Video access, unlimited music streaming, photo storage, reading, perks for gamers, Alexa voice shopping, and exclusive deals on smartphones and many other products.

New Amazon Prime members still have until May 11 to sign up at the old $99 price, while existing subscribers will begin to notice revisions to their bills for renewals taking place after June 16.

By the way, $119 is a heck of a lot better than the combined expenses of a Prime account holder who might choose to pay for the service on a month by month basis. You’re looking at an overall discount of almost $37 every year, so don’t hesitate to think long-term here.

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