When it comes to growing their presence in the emerging market of on-demand and on-the-go video, the people at Hulu are looking to compete with the people at Netflix like never before.
As a result, Hulu CEO Jason Kilar announced Wednesday morning via the official Hulu Blog that the monthly subscription rate for the Hulu Plus package would be reduced from $9.99 to $7.99.
Those who just subscribed to Hulu for the higher price will receive a credit on their next bill.
Hulu presently offers expansive inventories of popular television programming from outlets like NBC, Fox and ABC.
The “plus” version of Hulu does not, however, take the place of the free version of Hulu presently available only on computers.
Hulu Plus, of course, offers unique advantages over its cost-free counterpart, particularly high-definition content available across a wide variety of Internet-connected mobile devices, like the iPhone and the iPad.
Although Hulu is projected to see earnings in excess of $240 million this year (primarily from advertising), Netflix has consistently stolen Hulu’s thunder and continues to dominate the growing world of on-demand and online video rental services.
So while Hulu has its work cut out for itself in trying to better compete with Netflix, the price cut certainly isn’t a bad place to start.