Time Warner and Hulu have joined forces as Time Warner taken a 10 percent stake in the premium streaming TV service. Through its investment, Time Warner joins The Walt Disney Company, 21st Century Fox, and Comcast as Hulu shareholders.
“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,” Jeff Bewkes, Chairman and CEO of Time Warner, said in a statement.
Time Warner’s investment in Hulu will also make the company's entertainment, sports, news and kids networks - which include TNT, TBS, CNN, Cartoon Network, Adult Swim, truTV, Boomerang and Turner Classic Movies - available on the platform through Hulu’s new livestreaming service.
“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,” said Bewkes.
With no additional cost to set up, the new service, available next year, will offer viewers access to live and on-demand content from the comfort of their homes.
“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,” Mike Hopkins, CEO of Hulu, said in a statement.
In addition to the live offerings, Hulu will continue to offer its ad-supported service for $7.99 and it's ad-free subscription for $11.99. Both services will continue to include acquired programming like "Empire," "Homeland," "Seinfeld," "Curious George," "South Park" and "Fear The Walking Dead," as well as their originals such as "The Mindy Project," "Casual," "The Path," "Difficult People" and "11.22.63."