Hulu’s monthly subscription is about to get cheaper.
The streaming service announced it will lower the price of its monthly base subscription plan from $7.99 to $5.99 per month starting on February 26 for new subscribers, the Verge reported. Current Hulu subscribers will see the new monthly fees in the following billing cycle.
Hulu has previously offered a $5.99/month plan as a promotion. The company’s other offerings — the “no commercials” plan at $11.99 per month and the combined $12.99 Hulu/Spotify subscription — will remain the same.
The company dropped its monthly subscription cost after Netflix announced last week it would increase the prices of its plans, in its biggest streaming price increase ever.
Hulu will have one price-hike, however. It will increase the cost of the Hulu with live TV service from $39.99 to $44.99 per month, in an effort to increase available channels to subscribers, the Verge reported. Hulu started offering on-demand TV and movie streaming services in 2008, and later expanded into live TV in May 2017, according to USA Today.
Hulu currently maintains a customer base less than half the size of Netflix’s 58 million US-based subscribers. But the company said it ended 2018 with upwards of 25 million subscribers, a more than 50% increase over the past year.
“Consumers have spoken loudly about their desire for more choice and control in their TV experience,” said Hulu CEO Randy Freer.