Amazon unveiled its new streaming stick, Fire TV Stick Monday, according to a press release on the company's website.

The Fire TV Stick is a small device that connects to its user's HDTV in the HDMI port for instant access to movies, TV shows, music, photos, apps and games.

"Fire TV Stick is the most powerful streaming media stick available," said Jeff Bezos, Amazon's Founder and CEO.

The streaming stick has a dual-core processor, 1GB of RAM, 8GB of internal storage, dual-band and dual-antenna Wi-Fi. It includes a remote and comes with Amazon's free mobile app, ASAP, for instant streaming.

The Fire TV Stick offers a wide collection of content with access to Netflix, Prime Instant Video, Hulu, WatchESPN, NBA Game Time, Twitch, SHOWTIME ANYTIME, Prime Music, Spotify, Pandora, Vevo and Youtube.

Amazon is in direct competition with existing TV streaming devices such as the Apple TV, Google's Chromecast and the Roku Streaming Stick, according to the Business Insider.

Although the Fire TV stick offers almost the same capabilities as existing TV streaming devices, Fire TV stick is a lot smaller, with a statement from Amazon that said the device is only the size of a pack of gum.

"We continue to invest heavily in video content including originals and there is a number of different metrics we're looking at," said Amazon CFO Tom Szkutak, according to PC Magazine. "But what we're seeing so far are those customers who are streaming are renewing at considerably higher rates."

The Fire Stick is still a bit more expensive than the Chromecast, which retails at $35, but is a lot more cheaper than the Roku Stick and the Apple TV, which sells at $50 and $99, respectively, according to Bloomberg.

Amazon's new device will ship on Nov. 19 at a cost of $39. For two days, Amazon Prime Members can pre-order the Fire TV Stick for $19, according to Amazon.

"The team has packed an unbelievable amount of power and selection into an incredible price point," Bezos said.