Amazon Goes After Netflix With Monthly Subscriptions

Not known for subtlety in its jabs at rivals, Amazon has set its sights on streaming services like Netflix and Hulu with new monthly Amazon Prime subscriptions. The online retailer will now offer $7.99 monthly memberships to Prime, once only available for a yearly rate, which includes a library of free streaming titles similar to Netflix's and Hulu's. The $8 price point just so happens to be exactly what Netflix and Hulu Plus charge for their respective streaming services. Amazon's plan also includes a free Kindle book rental each month. For those still interested in Prime mainly for the two-day shipping, the $79 yearly plan will remain available.