Spotify, Hulu offer $5 student bundle to lure college customers

File this one under: I wish I had this when I was in college.

Spotify and Hulu are teaming up to give U.S. college students access to both companies' premium services for $4.99 a month. The new service is aptly called "Spotify Premium for Students, now with Hulu."

Spotify's announcement hints that this package is just the first of many bundles to come for the two services. This one pairs Spotify Premium, the company's ad-free music streaming service, with Hulu's Limited Commercials plan, which lets you stream current TV shows, movies and original content.

The bundle is available specifically for undergrads starting today, and current students taking advantage of the Spotify Premium for students service can upgrade for free.

The move is a way for Hulu to compete with rival streaming services, like Netflix. 

Spotify has about 60 million paid subscribers, according to Reuters. The company plans to go public and list directly on the New York Stock Exchange later this year.