Streaming services aim to get a leg up on the competition by being the lowest cost streaming provider around after its latest
promotion.
Available to new subscribers, Hulu has cut its ad-supported tier from $7.99 to $5.99, to compete with the fierce competition
of Netflix, Inc. (NASDAQ: NFLX) and Amazon.com,
Inc. (NASDAQ: AMZN) Prime Video streaming service. The
promotional price lasts for one year.
Hulu is also set to launch its live service, offered for $35 per month, which will compete with ATT DirecTV Now, Dish Network's
Sling, and Playstation Vue. Hulu is jointly owned by Comcast Corporation (NASDAQ: CMCSA), Walt Disney Co (NYSE: DIS), 21st Century Fox (NASDAQ: FOXA) and Time Warner Inc (NYSE: TWX).
The move comes as Netflix has significantly reduced its streaming content library, instead opting for more original content to
compete with HBO. Netflix has reduced its amount of streaming titles on the service by 50 percent in the last four years.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.