Amazon Prime is an extremely good value proposition for anyone that buys things regularly from the e-commerce giant. In addition to free 2 day shipping and deeply discounted overnight shipping, Amazon Prime customers get access to their e-book lending library, free streaming videos and other deals that make the service well worth $79 per year. However that could all change, and soon.

While we wish this was undocumented anonymous speculation, Amazon CEO and Founder Jeff Bezos said on the Amazon fourth quarter earnings call that they could raise the price of Amazon Prime by $20 or $40 a month. Of course the $119 price is reflects a $40 a month increase.

Is it worth it to you?

Well consider this for a second, while jumping from $79 to $119 is a huge price jump, percentage wise, it evens out to $10 a month. So for just $3 more per month then the lowest cost Netflix account you get, movies, books and the reduced shipping. If you’re patient enough to wait just 2 days the shipping is actually free. When you think about it like this it’s most definitely worth it, especially when you consider the Amazon lending library has over 475,000 titles that you can borrow with no due date, read and be done.

With one membership to Amazon Prime you eliminate the need for a Netflix membership, Scrib’d membership, and fighting different e-commerce vendors.

Bezos says that the increase is due to increased costs in shipping. Amazon is also working on aggressively rolling out same day shipping and delivery in several markets. A service that won’t cost nearly what it would if you paid for it “over the counter”.

Are you ok with a price increase in Amazon Prime? Sound off in comments.