Amazon Prime goes monthly in new challenge to Netflix

Online retailer Amazon is now offering its Prime service on a monthly basis.  

Previously, the service was only available for a $99 annual subscription.

The services includes free shipping, a music library and a growing collection of original TV shows and movies.

The company also announced it's offering a separate monthly subscription for just its TV and movie collection dubbed Prime Video. With the move, Prime Video becomes a direct competitor to Netflix and Hulu.

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