Amazon takes on Netflix with stand-alone video streaming

Amazon is taking on Netflix and Hulu with a stand-alone video streaming service.
Customers can now pay USD 8.99 a month to watch Amazon's Prime video streaming service. Previously, the only way to watch Prime videos was to pay USD 99 a year for Prime membership, which includes free two-day shipping on items sold by the site. The video-only option won't come with any free shipping perks.
At USD 8.99 a month, Amazon's stand-alone streaming service is USD 1 less than Netflix, and USD 1 more than Hulu. Amazon is also offering a new pay-as-you-go option for its full Prime membership that costs USD 10.99 a month.

Amazon.Com Inc. Shares slipped 0.1 per cent before the stock market opened today. Netflix Inc. Shares fell 1.3 percent.