LOS ANGELES — Streaming service Hulu on Wednesday notched a major agreement with CBS Corp. to provide a live stream of CBS, the nation’s most-watched television network, as part of Hulu’s upcoming TV-channel service.
Hulu plans to launch an over-the-top package of channels in the coming months to compete with Dish Network’s SlingTV, Sony PlayStation Vue and DirecTV Now, which all offer streams of traditional broadcast and cable TV channels.
“To build a successful live TV service, you have to have viewers’ favorite sports and shows — and CBS’ programming is absolutely vital to that mix,” Mike Hopkins, Hulu’s chief executive, said in a statement.
Sports programming, including NFL football and NCAA championship series basketball games, will be included in the CBS network stream. Other live events televised by CBS, such as the Grammys, will be part of the package.
For years, CBS had been the lone holdout among major TV broadcasters to do business with Hulu. That’s because Hulu is owned by NBCUniversal, 21st Century Fox and Walt Disney Co.’s ABC — longtime rivals of CBS.
The Hulu deal does not represent a wholesale change in strategy for CBS. Episodes of CBS shows, such as “NCIS,” “Mom” or “The Big Bang Theory,” still will not be offered through Hulu’s established $7.99-a-month video-on-demand service.
CBS plans to continue to use its programming to boost its own streaming service, CBS All Access, which has nearly 1 million subscribers.
Instead, live streams of the CBS network feed as well as the company’s two cable channels, CBS Sports and Pop, will be offered through Hulu’s upcoming “skinny bundle” service.
“Today’s announcement represents another significant step in our strategy to deliver CBS’ industry-leading content to viewers whenever and wherever they want to watch it, at terms that are consistent with the company’s goals,” said Ray Hopkins, CBS’ president of television networks distribution.
CBS shares jumped 2 percent, or $1.33 a share, to $65.72 on Wednesday.
