The CW Inks Five-Year Deal With Hulu

The Vampire Diaries - Season 3 Premiere - 2011

The announcement comes weeks after the network signed a four-year streaming licensing agreement with Netflix.

On the heels of the CW signing a four-year streaming licensing deal with Netflix for their shows, the nework has inked a five-year agreement with Hulu.

The network, a joint venture between CBS Corp. and Warner Bros. Entertainment, announced on Friday that it has finalized the multi-year deal for the rights to stream in-season episodes of its programming on subscription-based Hulu Plus service and Hulu.

PHOTOS: Netflix's 10 Most Rented Movies of All Time

The agreement means subscribers with Hulu Plus will be able to view five of the most recent episodes of each CW show the next day after it airs on television. Hulu users will be have the ability to watch five episodes from the current season eight days after they air.

Later this year, programs such as Ringer, Hart of Dixie, The Secret Circle, The Vampire Diaries, Gossip Girl, Supernatural, Nikita, 90210 and America's Next Top Model will be made available.

PHOTOS: CW's New Season TV Shows: 'Hart of Dixie,' 'Ringer' and More

“Our new arrangement with Hulu only affirms the incredible value of the CW’s series, as well as amplifying the immense power of the broadcast network model,” said Mark Pedowitz, president of the CW. “As we increase the amount of year round original programming on the CW, this deal provides our shows with greater exposure on a new platform, helping build even more awareness that will drive viewers back to the network and its affiliates. We see this as a win for everyone involved, the network, the stations, Hulu and ultimately, the viewers.”

Financial details were not disclosed for the Hulu agreement, but the CW's deal with Netflix is believed to be worth around $1 billion over time. Unlike the Netflix deal, which includes previous seasons of the net's shows, Hulu will only include current season programming.