Hulu gives first glimpse of its $40 a month live TV service, and says it will launch within weeks

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Hulu has revealed the first look at its new $40 a month service which blends live TV and on demand shows.

Set to launch in spring, the service will allow users to watch dozens of live channels without the need for an expensive cable subscription.

Earlier this week it was revealed CBS has signed a deal to have its broadcast network and some cable programming on Hulu's live streaming service. 

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Set to launch within weeks, the service will allow users to watch dozens of live channels without the need for an expensive cable subscription, as well as on demand shows.

Under the deal, the New York-based broadcaster's sports programming, including its NFL games and the NCAA Division 1 Basketball Championship, as well as CBS Sports Network and POP, an entertainment channel, will be on Hulu. 

Hulu subscribers will also be able to subscribe to CBS Corp's Showtime for an additional price.

CBS, whose shows include news magazine '60 Minutes' and the comedy 'The Big Bang Theory,' will bring in more than $3 per monthly subscriber for its channels, with increases that could eventually get to more than $4, according to a source familiar with the situation. 

The source requested anonymity because the deal is not yet public.

The Wall Street Journal first reported news of the agreement.

Late last year Hulu announced new affiliate agreements with 21st Century Fox and The Walt Disney Company.

The deals encompass more than 35 networks that will be added to the platform early 2017 when Hulu launches its live TV service to compete with cable companies.

Users will have access to Fox's premier entertainment, news, sports and non-fiction services, as well as Disney's portfolio of networks - and access could cost as little as $40 a month.

'We're building a service that offers subscribers the most sought-after programming on television - and channels from 21st Century Fox and The Walt Disney Company are essential to that mix,' said Mike Hopkins, CEO of Hulu.

'With these two new deals in place, and additional partners to come, Hulu will soon give TV fans of all ages live and on-demand access to their favorite programs in a whole new, more flexible, highly personalized way.'

The agreements will pack up the line-up with more than 35 top networks.

This includes broadcast networks FOX and ABC, Fox Sports networks such as the Fox Sports 1, Fox Sports 2 and BTN and ESPN, ESPN2, ESPNU, ESPN-SEC and ESPN 3.

An update will also allow families to set up profiles for each user of the service

Users will also be able to see live showings of Fox Regional Sports Networks across dozens of key national markets; Disney Channel, Disney XD and Disney Junior; Fox News and Fox Business; Freeform; FX, FXX and FXM, and National Geographic and Nat Geo Wild.

Sporting events will be the mainstay of the new service

In August, Hulu dropped its free TV episodes as it worked on an online television service in a bid to overthrow the cable kings, as the average consumer can pay anywhere between $99 to more than $200 a month for traditional cable.

Hulu announced new affiliate agreements with 21st Century Fox and The Walt Disney Company. The deals encompass 35 networks that will be added to the line-up in early 2017 when Hulu launches its live TV service to compete with cable companies

While Hulu began as a free site, supported by advertising, free video has become increasingly more difficult to find as the firm tries to lure viewers into a subscription — $8 a month for a plan with ads, and $12 without, reports the Associated Press.

In recent months, visitors to Hulu.com have been presented with prominent links to subscribe, with links to free video buried in a menu after signing in. 

Hulu members will have access to Fox's premier entertainment, news, sports and non-fiction services, as well as Disney's portfolio of networks from Disney/ABC Television Group and ESPN Inc - and can watch shows during live times, instead of the next day

Around the same time, the streaming service announced an affiliate agreement with Time Warner Inc. that adds both live and on-demand streaming of Turner's suite of entertainment, sports, news and kid's networks including TNT, TBS, CNN, Cartoon Network, Adult Swim, truTV, Boomerang and Turner Classic Movies.

Hulu has more than 12 million subscribers who pay for original shows, the entire current seasons of some network shows and access to Hulu's library on mobile and streaming-TV devices.

With its shift to live online TV services next year, the firm will show broadcast and cable channels in real time, without making viewers wait until the next day to watch episodes.

This service is set to cost just $40 for a package that includes access Hulu's group of live channels.

Google is also taking advantage of consumer's need for more cable options, as the tech giant signed a deal with CBS Corp to carry the network on its web TV service and is in talks with 21st Century Fox and Viacom Inc to distribute its channels, three sources told Reuters last week. 

The service, which will be part of Google's YouTube Platform, is expected to launch early next year and will include all of CBS' content, including live NFL games, one of the sources said.

With its shift to live online TV services next year, the firm will show broadcast and cable channels in real time, without making viewers wait until the next day to watch episodes. This service is set to cost just $40 a month that includes access Hulu's group of live channels

Google's 'skinny' bundle will cost $25 to $40 a month, the source said.

According to the Wall Street Journal, the service will be called Unplugged. 

 And said 'Beside CBS, other channels from CBS that will be part of the YouTube offering include Pop and CBS Sports Network.

'21st Century Fox channels under discussion include Fox Broadcasting, Fox News, FX, Fox Sports and National Geographic Channel, the people familiar with the matter say, while Disney-owned channels that could be part of the service include ABC, ESPN, Disney Channel and Freeform.'

AT&T is also joining a race with a new streaming service equip with more than 100 popular TV channels that is set to release next month - it will also cost $35 a month.

That's far less than the typical big bundle of channels on cable, which a recent survey from Leichtman Research Group says costs about $100, on average.

But it's comparable to the price of Dish Network's Sling TV streaming service, which, granted, has fewer channels at that price.