“We have always believed that TV should fit your lifestyle, not the other way around.” That’s what Ben Smith, Hulu’s SVP and Head of Experience stated as they announced the launch of a new streaming service from the media company. This new product will be the first pay-TV service to serve up a mix of live TV, on demand channels, original series and films, and premium streaming TV shows and movies. The Hulu with Live TV (beta) plan is available for a pretty steep $39.99 but they are positioning it as something that should be worth that much.

Hulu already has a pretty extensive library of original and on demand streaming shows and movies. Add more than 50 live channels (sports, news, entertainment, kids) and you’ve got a pretty sweat deal. You even get 50 hours of recording storage if there are some live shows that you’d want to watch later on. You can also save up to six individual profiles so that your entire family will be able to use the service. You can even have two simultaneous streams per account, with an option to upgrade to an enhanced Cloud DVR and unlimited home screens.

The big four (ABC, CBS, Fox, NBC) are included in the package, which is a pretty good thing both for the brands and the users. The way people are consuming network TV is evolving and so the networks themselves would have to make adjustments as well. Most of the major channels per category, like sports (ESPN, Fox Sports, etc), news (CNN, Fox News, MSNBC), lifestyle (E!, Bravo, Travel Channel), kids (Disney Channel, Cartoon Network), plus other fan favorites like A&E, Nat Geo, Lifetime, Vicelend, etc.

If you were previously subscribing to Hulu’s streaming service ($7.99), it will be incorporated into your new Hulu with Live TV (beta) subscription, which is priced at $39.99. If you want to watch Hulu originals without ads, then you will have to add $4 to your account.