Why Hulu Made a Deal With CW Network
Hulu Live TV subscribers can now watch shows like Riverdale and Supernatural
Hulu announced on Monday, August 28, that CW, a joint venture between Warner Bros. (TWX) and CBS (CBS), has entered a deal to join its live OTT TV streaming service. Hulu started providing live TV in May 2017, elbowing into a crowded market that includes AT&T‘s (T) DIRECTV Now, Vue, YoutubeTV, and Sling TV.
The deal with CW Network means Hulu can offer the CW network to subscribers of the new streaming service. The CW network hosts popular shows like Supernatural, Riverdale, Jane the Virgin, and Crazy ex-Girlfriend.
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Hulu is into a crowded business
The deal with CW may be positive for Hulu, as the graph above shows that the former is targeting a demography that is more willing to “cut the cord.” That said, Google-owned (GOOG) YouTube TV is also being offered by the CW network.
According to Morning Consult, Millenials tend to prefer streaming over cable, which has caused YouTube TV to jump up to the third spot on a paid subscriber basis in the age group of 18 to 29. Netflix (NFLX) is the dominant streaming service. According to a poll by Morning Consult, 52% of all respondents and 67% of Millennials said they subscribe to Netflix. The poll surveyed over 2,200 citizens between August 10 and August 14.