Netflix (NFLX) Rival Inks Major Content Deal

Netflix (Nasdaq: NFLX) was lower in early trading Wednesday following news that a rival secured a big content deal.

According to TechCrunch, citing a now-absent blog post, Hulu secured the rights to Seinfeld from Sony Pictures TV. The deal was reported at $180 million, or about $1 million per episode.

Seinfeld will be available to Hulu subs this June.

This is the first time that the entire series of Seinfeld has been made available for streaming on demand, though there were a few episodes available on Crackle a few years back.

During an announcement at the Hulu Upfront Presentation today, Hulu also announced a 50 percent increase in subscribers since last year to about 9 million, while streams have increased by 77 percent in Q115.

Shares of Netflix are down 0.2 percent.

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