The new pricing of $7.99 per month is being tested and not yet available to all customers. The current pricing model for Amazon Prime is $79 per year. For that fee customers get access to thousands of videos, free monthly e-book rentals and free shipping for certain items. The experiment makes Amazon’s pricing exactly the same as its main competition, Netflix (NASDAQ:NFLX).
It also means that the cost for Amazon Prime is going up overall. If a customer selects the monthly payment option, the total yearly fee will increase 21% to $95.88. However, Amazon is also adding major sources of new content to its streaming services such as its September addition of thousands of new titles from Epix.