Hulu has dropped its prices, taking its most popular plan to $5.99 a month. This is a $2 decrease from the $7.99 it previously charged.

The move is designed to make Hulu more competitive and position the service as the lowest-priced option in the streaming industry, CNBC reported.

While Hulu’s service will move to $5.99, its ad-free platform will stay at $11.99 per month while the Hulu and live TV plan will move to $44.99 per month from $39.99. The prices changes will take effect on Feb. 26 for new subscribers and after this date for existing customers.

“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,” the company said in a statement.

Hulu’s price drop comes amid a price increase by competitor Netflix and expectations that AT&T, Disney, and NBCUniversal will launch streaming services in the next two years.