India’s Amazon has raised the price of its flagship product, the Amazon Prime Video, for the first time in six years.
The product is priced at Rs 4,990 ($739), up from Rs 3,990 in January 2017.
The price rise comes after the online retailer, which is part of Amazon India, announced a reduction in the prices of Prime Video products, such as the Fire TV Stick, Fire TV, and Fire TV HD.
The move came after Prime Video revenues fell significantly from the last financial year.
Prime Video, which costs around Rs 11,000 ($1,638) per month, has been the fastest-growing segment of Amazon’s e-commerce business, growing from Rs 14,000 crore ($29.7 billion) in 2017 to Rs 29,000.
Amazon said in a statement that it will continue to lower the price and focus on offering the best video streaming experience in the future.
In 2017, Prime Video revenue grew 13% to Rs 11.2 billion ($3.3 billion).
In 2020, Prime Videos revenue grew 25% to about Rs 9.8 billion ($2.3 trillion).