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For $9.99 per month, subscribers will get access to all the episodes in a popular show's season, not just the past five or so, plus every episode of select series such as The X-Files, Buffy the Vampire Slayer, Law & Order, Ally McBeal, Grey's Anatomy and more.
They'll also gain access to significantly more content in high definition, and they can watch episodes on the go using either Wi-Fi or 3G with new apps for both the iPad and iPhone (a long-awaited announcement in an of itself). You'll also be able to watch on the Sony PlayStation 3 game console and select Samsung TVs and Blu-ray players.
Hulu Plus isn't available to everyone yet, but you can request a "preview invite" at Hulu's website. The video below details the new offering: