ViacomCBS Expands Multi-Year Content Distribution Agreement With Hulu

Mass media company ViacomCBS Inc VIAC 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.

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