If it's good enough for HBO, it's good enough for CBS, right?

The broadcast network announced Thursday it is creating a new streaming service that will not require a TV subscription--the first time one of the traditional broadcast networks will be streamed live on the Internet.

The new service will cost $5.99 a month, and subscribers can watch local CBS affiliates in 14 markets. Outside of those markets where it is available, subscribers can watch episodes of current and classic CBS series (and series CBS owns the rights to).

CBS's announcement comes just one day after HBO announced it would begin offering its own standalone streaming service that will not require a cable subscription.