Hulu confirms that NBCUniversal will be withdrawing its streaming rights on the platform in order to concentrate on its own streaming service, Peacock.
Hulu and NBC Network Ends Deal
According to Variety, the programmer, owned by Comcast, officially terminated its TV streaming deal with Hulu, which is majority owned by Disney.
Variety states further that a representative for NBCU confirmed that the Hulu agreement has been terminated, but that a Disney spokesperson did not immediately provide comment about the withdrawal.
The move comes just after Disney announced a new strategy for its premium streaming offer, Disney+, debuting a lower-priced tier supported by ads - with a plan to begin in the United States in late 2022.
This is in addition to a similar plan for Hulu, also supported by ads. Variety reported that NBCU's Peacock offers free, ad-supported and no-ad versions, suggesting that customers can enjoy cheaper and more accessible service.
In the past few years, new episodes of NBC's popular shows, which includes "Saturday Night Live" and "The Voice" - were available on Hulu the day after its TV broadcast, together with the rest of NBCU's broadcast and cable lineup.
However, starting from the 2022-23 season, that will no longer be the case. Variety further notes that certain NBCU titles will remain on Hulu for a few more years: they mark out "Law & Order: SVU", "This Is Us," "The Mindy Project," "30 Rock," "Parenthood," "Friday Night Lights," and "Will & Grace" as some that will continue on Hulu.
The said shows will still be included in Hulu's Watch Party.
A severance of the existing deal between NBCU and Hulu officially started 3 years ago, under the agreement between Comcast and Disney.
The deal gave Disney operational control of the streamer. In accordance with the terms of the deal, NBCU was given the right to cancel most of its content licensing agreements with Hulu by 2022, according to Collider.
Comcast still has a 33% stake in the platform, but Variety notes that it is expected to sell to Disney by 2024. Comcast is guaranteed to get a massive $5.8 billion from the deal as it stands, but there is the potential for billions more.
Variety notes that Disney insiders have tried to put a positive spin on NBCU's exit from Hulu, saying that it will free up content dollars to let Hulu invest more aggressively in originals.
However, with Disney's recent move to make Disney+ more adult-friendly, including a consolidation of its Marvel TV shows to the platform - severing its erstwhile deal with Netflix - one might wonder what is to come of Hulu's programming.
Peacock Subscription
Just before Hulu's announcement, Peacock has revealed that it will charge customers $5 for live sports on the platform, according to Business Insider.
The free and premium versions are available; the ad-supported Peacock Premium plan costs $5 a month, while the ad-free Peacock Premium Plus plan costs $10 a month.
Starting this year, Peacock will stream select Universal films as soon as 45 days after their theatrical releases. That said, big titles like "Jurassic World: Dominion" will likely take longer to be added to Peacock.
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Written by Sophie Webster
