Hulu drops price of its entry-level plan

In what appears to be a happy coincidence for Hulu, news of the price drop is making the rounds just as Netflix raises the price of both its standard and premium plans.

For a limited time, Hulu is offering new and returning users its least expensive streaming membership tier, which includes commercials, for $5.99 monthly instead of the usual $7.99 price. They will have to pay $7.99 per month thereafter. Hulu, which is jointly-owned by four large media companies, also offered a similar deal ahead of last year's fall TV season. Hulu is now running an ad campaign featuring Anna Kendrick (the "Pitch Perfect" movies) as part of its marketing push.

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While Netflix and Amazon have both produced multiple breakout hits, The Handmaid's Tale is the only show from Hulu to make a significant impact so far.

The competition between two major streaming services is heating up. In addition, Hulu has licensed exclusive rights to series including NBC's "Will & Grace" and "30 Rock"; Fox's "Black-ish"; and ABC's "Fresh Off the Boat." Hulu ended its free, ad-supported version of the service in August 2016, entering into a distribution pact with Yahoo for free access to some shows. This includes some previous Netflix mainstays like '30 Rock.' There's no doubt that Hulu is betting big on being the new back catalog service, whereas Netflix seems nearly entirely focused on being a content creator moving forward, likely out of pure necessity. The companies say they're working on other bundle offers for a "broader market".

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