Roku is coming out with its own Netflix-style subscription video service that provides thousands of TV and movie titles without any ads. But the company sees the new Howdy service as a cheaper complement to the likes of Netflix — not a direct competitor.

Roku is launching the ad-free streaming service, Howdy.

Roku on Tuesday announced a new ad-free streaming service for $2.99 a month, the cheapest price point in the U.S. by a major company. The new streaming service, called Howdy, has a library of thousands of titles and nearly 10,