Hulu today announced that it's lowering the monthly cost of its simplest plan — from $7.99 a month, to $5.99 a month. The new pricing takes effect Feb. 26, 2019, for new subscribers. Existing members will see changes in their bills in the cycle after Feb. 26.

That'll get you access to Hulu's more-than 85,000 on-demand episodes, as well as original programming.

If you want Hulu's full catalog without advertising, it'll still cost you $11.99 a month. That hadn't changed. And Hulu With Live TV is getting more expensive — jumping from $39.99 to $44.99 a month. Hulu tells us that the new price does include advertising in Hulu's on-demand library. (And of course Live TV will have live ads.)

If you want Hulu With Live TV and no ads in the on-demand content, you'll pay $50.99 a month, Hulu tells us.

The changes come just a few days after rival Netflix announced a price increase.

And this, folks, is why competition is a good thing.

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