Just days after Netflix announced its largest rate hike in the history of the streaming service, Hulu is following with its own announcement of “new pricing options” that will cost some customers less and others more.

“Over the past year, Hulu has added thousands of exclusive TV episodes and movies, launched nearly a dozen additional popular live TV channels – including The CW, Discovery Channel, TLC, Animal Planet and ABC News – and upgraded the technology platforms to support more devices and provide superior quality to our viewers,” Hulu announced on its Hulu Updates website. “With more than 85,000 episodes of on-demand television — more than any other U.S. streaming service — as well as thousands of movies and more than 60 popular live television channels, Hulu makes it easy for TV fans to get the most complete television experience. Today, we’re announcing updates to our pricing options (that will go into effect next month) to allow current and new subscribers to choose the best Hulu experience for them.”

New Rates

• Hulu Basic (with commercials) drops $2 per month from $7.99 to $5.99.
• Hulu (No Ads) remains $11.99 a month.
• Hulu + Live TV, the entry-level cord-cutters package with more than 60 live channels and access to Hulu on-demand content with commercials increases $5 per month to $44.99.
• Hulu (No Ads) + Live TV is also increasing $5 a month to $50.99 and features more than 60 live channels and Hulu’s on demand content with no commercials.

Hulu Basic had often been offered at $5.99 a month during special promotions, and the new lower price could attract more long-term subscribers. The increase in price for live television service comes as the result of increasing programming expenses and a desire to increase revenue. Hulu’s competitors have also been raising prices on packages featuring live networks and local channels.

Hulu’s new pricing will take effect on Feb. 26. Existing customers will see the price changes reflected in billing cycles beginning on or after Feb. 26.