Posted Wed Aug 3, 2016 at 11:00 AM PDT by Steven Cohen
The new live streaming platform will include channels from Turner.
Time Warner and Hulu have announced a new deal that will make Time Warner a 10% owner of Hulu. In addition to the equity purchase, the companies have also signed a new affiliate agreement which will allow Hulu's new live streaming service to carry Turner's lineup of popular channels.
Jeff Bewkes, Chairman and CEO of Time Warner said, "Our investment in Hulu underscores Time Warner's commitment to supporting and developing new platforms for the delivery of high-quality content and great consumer experiences to audiences around the globe.” Mr. Bewkes continued, "We're also excited to join Hulu’s other owners in launching a new consumer-friendly package featuring leading networks that will deliver more value to audiences and complement Hulu's core SVOD offerings. The inclusion of Turner's networks in Hulu's new streaming service furthers our efforts to allow consumers to engage with and enjoy our brands across a wide range of platforms and services."
As previously reported, exact details have not been revealed yet, but Hulu live streaming will feature content from broadcast and cable brands, including live sports, news, and events. Likewise, subscribers will be able to tune into the live programming without a traditional cable or satellite plan. The new Time Warner deal secures live and on-demand content from Turner's networks, including TNT, TBS, CNN, Cartoon Network, Adult Swim, truTV, Boomerang and Turner Classic Movies. Additional channels have not been confirmed, but a report from The Wall Street Journal indicates that Fox, ABC, ESPN, FX, and the Disney Channel are in negotiations with Hulu.
In addition to its upcoming live streaming platform, Hulu will continue to offer its ad-supported and ad-free subscription video on demand options with popular TV shows like 'Empire,' 'Homeland,' 'Seinfeld,' 'Curious George,' 'South Park' and 'Fear The Walking Dead,' along with original series such as 'The Mindy Project,' 'The Path,' 'Difficult People,' '11.22.63' and the Golden Globe-nominated 'Casual.'
Mike Hopkins, CEO of Hulu, said, "This investment from Time Warner marks a major step for Hulu as we continue to redefine television for both consumers and advertisers. Our two companies have long enjoyed a productive relationship – which includes the availability of past seasons of popular Turner shows on our current SVOD offerings – and we are very proud that Turner's networks will be included in our planned live streaming service."
An exact release date and pricing for Hulu's new live streaming service have not been announced yet, but the platform is expected to launch in early 2017. A current Hulu subscription starts at $8 per month with commercials. In addition, ad-free playback is available for $12 per month.
Source: Time Warner
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