Amazon announced Thursday the launch of two new data storage plans that would bring unlimited could storage for its customer’s photos and other files. And because this is Amazon, of course, the online retailer will do at an unbelievably low price.

Under the Unlimited Photos plan, for $11.99 a year customers will gain access to cloud storage for an unlimited amount of photos, as well as 5 GB of space for other file types. This plan is identical to what Amazon already provides its Prime Members and Fire device owners, and those groups will continue to receive this storage for free. But the crown jewel of Amazon’s new offerings is the Unlimited Everything Plan, which allows customers to store all the digital stuff they own for less than $60 a year. $59.99 to be exact.

This price is a shot across the bow to all other digital storage companies.

“Rather than being merely competitive with leaders like Google Drive, Dropbox, and iCloud, Amazon has decided to undercut their pricing by more than half,” writes Wired.com’s Brian Barnett. “In some cases, much, much more.”

To put things in perspective, according to Wired, Dropbox charges individual users $100 per year for a cloud storage plan capped at 1TB. Google, meanwhile, charges $120 per year for 1TB on Google Drive, and Apple will ding you $240 for the same amount on iCloud.

It seems likely, to say the least, that Amazon has the opportunity to become the dominant player in the cloud services market. Indeed, the company’s unprecedented low pricing for unlimited cloud storage has the potential to completely disrupt the industry’s current pricing structure.