Spotify and Hulu, are joining forces. Spotify (NYSE:SPOT) and Hulu (private) announced Wednesday that the companies will be partnering up to offer a subscription bundle for only USD $12.99 per month.
The new plan would offer a Spotify Premium subscription with Hulu’s Limited Commercial Plan and would cost a person roughly $18.00 per month if each plan was bought individually.
Currently, only existing Spotify Premium subscribers are eligible for the early access to the new bundle and can also take advantage of a limited time offer to try Hulu’s Limited Commercial Plan for 99 cents per month, for three months.
The two companies plan for the bundle to be available to everyone by this summer.
The new bundle comes into effect after the success of the previous partnership of the two companies, where a student bundle offered the same subscriptions for $4.99 per month.
Spotify’s Chief Premium Business Officer, Alex Norstrom, has said that the company’s “student launch with Hulu was incredibly well received and [they] are excited to extend [their] reach by bringing Hulu to more of [their] Premium members in the US.”
Norstrom also stated that the combination of Hulu’s highly acclaimed content with Spotify’s exclusive offer is providing a bundle of the “two top media platforms for an unbeatable price.”
Tim Connolly, SVP, Head of Distribution and Partnerships at Hulu, has said: “Hulu and Spotify are brands that are defining how fans connect with entertainment in the future.”
Despite the hopeful announcement of another Spotify and Hulu partnership, the share value of Spotify dipped 3.4% and closed at $149.57.
According to terms and conditions of the plan, users who bill their subscriptions through third-party billing agreements, such as Apple’s (NASDAQ:AAPL) App Store or Alphabet’s (NASDAQ:GOOG) Google Play, will not be eligible.
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