IN PHOTO: Two freshly delivered Amazon boxes are seen on a counter in Golden, Colorado. REUTERS/Rick Wilking

Amazon is looking to take on Netflix and Hulu directly with its forthcoming standalone streaming service. The online retailer announced it will offer users a new monthly streaming package instead of paying yearly for a Prime membership, reports The Hollywood Reporter.

New subscribers can choose to pay either $10.99 a month for Amazon Prime or just $8.99 a month for only Prime Video. While it seems better, the new $10.99 monthy subscription is actually more expensive than paying the $99 a year. However, the package does give subscribers more flexibility with their plans and gives users the option to cancel at any month, reports Polygon.

Right now the $10.99 monthly cost is on the high side of things when compared to other streaming services. HBO Now currently charges users $14.99, with Hulu just behind at $11.99 a month for commercial free streaming. However, this new subscription package comes just a week after Netflix revealed it would be raising its price from $7.99 to $9.99 a month.

Unlike the other streaming service plans, users enjoy more for their $10.99 a month with Amazon such as a music subscription service, video subscription and free shipping on elgible Prime items.

As of now Netflix boast over 70 million subscribers worldwide, with 44 million of those users in the U.S. It is unknown how many subscribers Amazon Prime has but giving users a monthly option will definitely improve and boost those numbers.

This move for Amazon isn't very surprising as more services continue to add premium video content for a cost. YouTube recently launched its own original content, with YouTube Red, that charges a premium price to access the videos.

Amazon's new monthly subscription offer will begin next month. And U.S. users can preview the new service with a 30-day trial starting April 23.

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