Skip to main content

Market Overview

ViacomCBS Expands Multi-Year Content Distribution Agreement With Hulu

Share:
ViacomCBS Expands Multi-Year Content Distribution Agreement With Hulu

Mass media company ViacomCBS Inc (NASDAQ: VIAC) (NASDAQ: VIACA) announced Monday that it had signed a multi-year distribution agreement with Hulu TV. It did not disclose the agreement’s monetary terms.

What Happened: As part of the agreement, Hulu subscribers will gain access to 14 channels from ViacomCBS’s portfolio consisting of news, sports, and entertainment networks including MTV, VH1, Comedy Central, Nickelodeon, and The Paramount Network.

Before its merger with Viacom in 2019, CBS had a distribution agreement with Hulu, the Wall Street Journal notes.

Why Does It Matter: Talking about the current agreement, President of ViacomCBS’s U.S. Networks Distribution, Ray Hopkins, said that “Hulu continues to be a great partner, and this agreement ensures that Hulu + Live TV subscribers are now able to enjoy the full breadth of our leading content across news, sports and entertainment for the first time.”

ViacomCBS has been building its distribution network by forging tie-ups with Alphabet Inc’s (NASDAQ: GOOGL) (NASDAQ: GOOG) video sharing platform YouTube TV, Comcast Corporation (NASDAQ: CMCSA), and Verizon Communications Inc (NYSE: VZ).

Price Action: VIAC shares fell 1.77% to close at $36.60 on Monday; VIACA stock closed 1.30% lower at $37.33.

Related News: Discovery’s Streaming Service Set For Debut Today, Banks On Olympics Broadcast For Subscriber Growth

 

Related Articles (VIAC + VIACA)

View Comments and Join the Discussion!

Posted-In: Hulu ViacomCBS Wall Street JournalNews Contracts Top Stories Media Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com