For one, the ad-free tier will still cost $12 per month. And if you want the Hulu + Live TV bundle, you'll be paying $5 more per month ($45) for the privilege of watching shows as they premiere. Hulu is betting that the live package is where the real money will be, and it might be raising the price to compensate for all the channel additions in recent months.

The timing might not be all that great for the Live TV rate hike. YouTube TV just launched nationwide coverage, and it starts at $40 per month, and competitors like DirecTV Now likewise start at $40. You'll mainly want Hulu if you want its originals and exclusives on top of conventional programming. If you're just interested in shows from more established networks, it's a tougher sell.