RICHMOND, VA (WWBT) - Amazon Prime Day is Monday, which means Prime members will be shopping for deals - and those of us who don't have Prime will think of joining.
Amazon just bumped up it's Prime membership cost to $119 a year, but a new analysis says you can get hundreds of dollars worth of value out of that membership.
One of the main reasons people sign up for Prime is to snag the two-day free shipping perk. JP Morgan finds that perk alone is worth $125 for the average Prime subscriber.
If you live in an urban area, you can also take advantage of Prime Now delivery, which JP Morgan values as a perk worth about $180 a year.
Prime Now allows unlimited, free two-hour delivery on thousands of items, but only for Prime subscribers in certain areas. Amazon will continue adding more cities.
The analysts say Amazon Prime's video catalog isn't as extensive as the one you get with a Netflix subscription, so it values it at about $9.99 a month. Amazon is spending $5 billion on video content this year, which should mean more original movies and series.
Prime Music doesn't have a catalog as big as Apple Music or Spotify Premium. It does compete with Pandora Plus, which costs $4.99 a month, which is why they value it as a $60 per year perk.
Two valuable perks you may not be using: Prime photos, which provides unlimited photo storage, and the Kindle lending library, which lets Prime members download one book for free each month.
$120 isn't small change, so make sure you're getting all the value you can out of that membership.
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