Now you don't have to make a year-long commitment to Amazon Prime

Amazon is going toe-to-toe with video-streaming service Netflix.

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On Sunday, Amazon introduced a monthly subscription service for Prime. Before that, the only way to get access to Amazon Prime was to purchase an annual membership for $99.

Amazon's monthly price sits at $8.99, including high-definition quality when it's available. That's a bit more expensive than Netflix's most basic plan — $7.99 without HD video. But HD on Netflix costs $9.99, a dollar more than Amazon's price.

Amazon unveiled its new service plan one day before the release of Netflix's first-quarter earnings report.

Amazon and Netflix have been eyeing each other in an original-video streaming race of sorts.

Amazon's seen success with original shows like "Transparent" and "The Man in the High Castle."

But as Mashable points out, "It still hasn't managed to garner the stunning success of Netflix hits like 'House of Cards,' 'Orange is the New Black' and 'Daredevil.'"

By the end of 2015, Amazon Prime reportedly had 54 million U.S. subscribers -- roughly 10 million more than Netflix.

But while Amazon is outpacing Netflix in potential viewers, according to Investor's Business Daily, it's still behind Netflix on actual viewers. One reason: Not everyone who buys the $99 Amazon Prime membership is necessarily using it for video streaming.

Prime's $8.99 plan doesn't include free shipping, although the company is now offering a $10.99 monthly plan that does.

Cox Media Group