A Big Change Just Came to Amazon Prime

Online-retail giant Amazon began offering monthly subscriptions for its web-streaming service on Sunday, as it seeks to compete directly with online video sites like Netflix and Hulu.

Amazon Prime, the company’s bundle of offerings that also includes a music library and unlimited photo storage, will cost $10.99 a month, CNN Money reports. The bundle was previously only available for a $99 annual fee.

In an apparent direct response to Netflix’s dominance of the online television space, the company will also offer separate monthly subscriptions for Prime Video at $8.99 per month. Netflix, meanwhile, will reportedly increase its monthly fee from $7.99 to $9.99 from May onwards.

Although the annual subscription will still work out to be cheaper, Amazon says it wants to offer customers the option of avoiding a yearlong commitment.

[CNN Money]

Subscribe to TIME

The Leadership Brief. Conversations with the most influential leaders in business and tech.

Please enter a valid email address.

* The request timed out and you did not successfully sign up. Please attempt to sign up again.

Sign Up Now

An unexpected error has occurred with your sign up. Please try again later.

Check the box if you do not wish to receive promotional offers via email from TIME.

You can unsubscribe at any time. By signing up you are agreeing to our Terms of Service and Privacy Policy. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Thank you!

For your security, we've sent a confirmation email to the address you entered. Click the link to confirm your subscription and begin receiving our newsletters. If you don't get the confirmation within 10 minutes, please check your spam folder.

Write to Rishi Iyengar at rishi.iyengar@timeasia.com.