Hulu is making a power play in the increasingly-crowded streaming service world.
The platform will lower its already frugally priced standard ad-supported plan from $7.99 to $5.99 per month beginning February 26. It will also raise its cord-cutter-friendly option, Hulu With Live TV, from $39.99 to $44.99.
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“Hulu is giving TV fans what they want — choice, flexibility and control — in what they watch, how they watch and what they pay for the TV plan that best suits their needs,” Hulu's statement reads.
The news comes after Netflix's announced a $2 price increase, the streaming service's largest price hike to date. Hulu was reportedly planning on its own price changes for several months, but the timing of the announcement seems to be a clear counteroffer to Netflix's raise.
While Netflix remains ubiquitous when it comes to streaming platforms, Hulu's managed to stay well into the game. Hulu claimed to have gained 8 million new subscribers last year, surpassing 25 million subscribers total. Meanwhile, 1 million of those subscribers are supposedly on the Hulu With Live TV option.
Hulu has long made appeals to penny-pinching audiences, often giving free trials and special deals, and even offering a 99 cent per month deal for Black Friday. Its Live TV option shows the company is not just trying to actively compete with the likes of Netflix or Amazon Prime but cable television at large. The package added a number of notable channels last year, including the Arrowverse home channel The CW.
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Hulu has also steadily expanded into original programming with shows like Marvel's Runaways, The Handmaid's Tale and Castle Rock.