Hulu cuts base subscription price by 25%, Netflix shares extend fall
Streaming video service Hulu has cut prices for its base, ad-supported subscription plan to $5.99 a month from $7.99 a month, effective in February. The move by Hulu, which is jointly owned by Walt Disney Co. DIS, -0.14% 21st Century Fox Inc. FOXA, +0.42% Comcast Corp. CMCSA, +4.15% and AT&T Inc. T, +0.60% comes a week after rival Netflix Inc. NFLX, -1.27% said it was raising prices in the U.S. by 13% to 18%. For no ads, Hulu said the monthly price will remain at $11.99. Shares of Netflix slumped 1.2% in morning trade, extending its three-day loss to 9.1%, while both the Nasdaq Composite COMP, -0.50% and the S&P 500 SPX, -0.32% eased 0.2%.
Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.
Source: Read Full Article