AUSTIN, Texas -- Uber has rolled out a new subscription service in five U.S. cities, including Austin.

Ride-sharing service Uber offering monthly subscription service

• Ride Pass available in 5 cities, including Austin

• Costs $14.99 per month; $24.99 per month in Los Angeles

With Ride Pass, subscribers lock in fares regardless of whether their rides are during peak hours.

For now, the new service is available in Orlando, Miami, Austin, Denver and Los Angeles. It costs $14.99 per month, except in Los Angeles, where the cost is $24.99 per month. Riders in the previously-mentioned cities can sign up for Ride Pass through the Uber app. Subscriptions auto-renew but can be canceled anytime, according to Uber.

Uber's new service comes after rival Lyft launched its own subscription service earlier this month. For $299 per month, All Access Plan subscribers get 30 rides worth up to $15 each. Riders pay the difference if the ride goes over $15.

Recently, Uber has been making changes to its service as it gears up for an initial public offering next year.