Hulu has officially unveiled its $40-a-month live-television streaming service to help it better compete against larger rivals like Netflix. Fortune reports: On Wednesday morning, Hulu announced the launch of the public beta version of Hulu with Live TV, which starts at $39.99 and allows users to stream live and on-demand programming from more than 50 TV channels running the gamut of live news, entertainment, and sports. The cost of the new service also includes access to Hulu's existing $7.99 premium streaming subscription and access to the company's library of archived content, which includes more than 3,500 film and TV titles. Subscribers to the new live service also get 50 hours of storage for recording programming, the ability to create up to six separate Hulu viewer profiles, and two simultaneous streams per account. The launch comes days after Hulu announced that it secured the final major piece in its live-television puzzle in the form of an agreement with Comcast's NBCUniversal to add several NBC- and Telemundo-owned channels to the Live TV lineup. That deal gave Hulu access to all four major broadcast networks: ABC, CBS, NBC, and Fox. The new live service also includes popular cable networks such as CNN, ESPN, FX, Fox News, TBS, TNT, and the Disney Channel. The only premium cable network currently available on the new live service is Showtime, which costs an additional $8.99 per month. Cable networks such as HBO, AMC Networks, Viacom's Comedy Central and MTV are among those not currently included in Hulu's new service, though the company said on Wednesday that additional premium network add-ons will be available soon.