On Sunday, Amazon finally broke out Prime Video, its Netflix competitor, from the full Prime bundle. You can now subscribe to Prime Video on an $8.99-per-month basis without getting free two-day shipping, Amazon's music service, or other perks.

This move brings Amazon's video service into more direct competitor with services like Netflix and Hulu.

But a little simple math shows that it actually isn't a great deal unless you plan on canceling soon. Here's the breakdown:

Prime Video as a standalone service will cost $8.99 per month, coming out to $107.88 per year.

The complete Prime "bundle" will cost $10.99 per month, coming out to $131.88 per year.

Amazon Prime, the whole package, costs $99 per year.

The benefit is that you can cancel any time you want, and are only committed on a month-to-month basis. This might serve as a good move for Amazon, allowing people to dip their toes into the Prime water before upgrading to the yearly plan. It also serves to underscore how great a deal Prime is.

But if you are already familiar with Prime, these new plans only really make sense if you see yourself canceling in the near future. 19% of Prime's current subscriber base has canceled in the last year, according to research by Parks Associates.

Here's a chart of Amazon Prime's new pricing options: