Amazon is dropping the price of Prime from $99 to $79, but only TODAY

On Friday, November 18, Amazon is giving a 20% discount off its wildly popular Prime service, which gives free two-day shipping, as well as access to a library of video and music.

Prime usually costs $99 dollars per year, but on Friday starting at 12:00 a.m. ET and ending at 11:59 p.m. PT, it will cost $79 for the year for new members.

The promotion coincides with the release of "The Grand Tour," Amazon's new blockbuster Jeremy Clarkson show, which even got a nod from competitor Netflix in its latest earnings report.

Here's a quick summary of some of the best Prime perks:

• Free two-day shipping.
• Access to Prime Video, which houses "thousands of movies and TV shows." These include both licensed titles and Amazon's original series like "Transparent," "The Man in the High Castle," "Mozart in the Jungle," and so on.
• Access to Prime Music, which lets you stream "more than two million" songs.
• Photo storage via Prime Photos.
• Access to a library of ebooks via Prime Reading.

While many people love Prime for the two-day shipping, Amazon has recently made a big commitment to supercharging its video offerings.

Amazon is doubling its spend on video content in the second half of this year, compared to last year, CFO Brian Olsavsky said in the most recent earnings call. Amazon last disclosed its investment amount on video content back in 2014, when it spent a total of $1.3 billion.

It's also shelling out a whopping $160 million for a new mafia drama starring Robert De Niro, who is snagging $850,000 per episode, according to The Hollywood Reporter.

Additional reporting by Eugene Kim.

Disclosure: Jeff Bezos is an investor in Business Insider through hispersonal investment company Bezos Expeditions.