Hulu announced today that it’s raising the monthly price of its live streaming service from $54.99 to $64.99, effective December 18. The increase will affect both new and existing customers.

The streamer alerted subscribers of the new pricing in e-mails, and a notice posted on its web site.

The live service includes more than 65 channels and the company’s Video on Demand library. (Hulu also sells a separate VOD service with ads for $5.99 a month and a no-ads version for $11.99. Those prices are not changing as of now.)

Hulu’s decision to hike its rates comes after YouTube TV raised its monthly price from $50 to $65 in June, and FuboTV, a smaller live streaming service, hiked its monthly prices by $5 in July. In addition, Netflix recently raised the price of its standard and premium plans by $1 and $2 a month respectively.

Streaming once was regarded as an inexpensive alternative to the rising cost of cable and satellite service. However, streaming companies are now raising their prices to offset escalating programming costs, the same factor that has largely driven higher cable and satellite prices in the last several years.

With the price gap narrowing between streaming and traditional pay TV service, it remains to be seen if cord-cutters will return to cable and satellite. Recent financial filings for the third quarter showed that the rate of cable and satellite defections slowed although the overall numbers are still historically high.

Hulu Live last raised its monthly price in November 2019 when it went from $44.99 to $54.99.

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— Phillip Swann