Netflix, Inc. (NASDAQ:NFLX) reached an exclusive multi-year agreement with the CW to stream all the past seasons of the network’s shows online in the U.S. The streaming giant now owns the rights to hit series such as Vampire Diaries and The Flash, according to The Hollywood Reporter. With the agreement, Netflix viewers will also be able to enjoy the latest full season of new shows like Supergirl only eight days after the season finale airs, starting with the 2016-2017 season.Netflix, Inc. (NFLX) Signs Multi-Year Exclusivity Agreement With CW

A big deal for Netflix and its subscribers

In a statement, Netflix’s content boss, Ted Sarandos, said, “Netflix members in the U.S. love the great lineup of series from The CW, and we are thrilled to extend the relationship and bring those shows to our members exclusively now, just eight days after their season finales.”

Since the first deal in 2011, the CW’s programming has received massive success and coverage through Netflix, and the new agreement not only continues but enhances this valuable relationship, said the CW President Mark Pedowitz. He added that his company is poised well for the future by transforming into “a true hybrid network, rooted in broadcast while fully embracing the digital and streaming habits of the viewers.”

For Netflix and its subscribers, this is a big deal. Viewers usually have to wait a year or two before the last season is made available for streaming, even when CW shows are already on the platform. Now this will change with this agreement.

A loss for Hulu

Netflix’s deal with the CW covers all current hit series and future programs produced for the network during the term of the new engagement. The deal includes the CW’s three new series on its 2016-17 prime time schedule: Supergirl, Frequency No Tomorrow and Riverdale and DC’s Legends of Tomorrow.

The deal also includes the longest-running CW shows: Supernatural, IZombie, Reign, The Vampire Diaries, The 100 and The Originals. The most recent seasons of the critically acclaimed shows Crazy Ex-Girlfriend and Jane the Virgin just became available to watch as well.

This deal surely makes a Netflix subscription appear much more attractive, and let’s not forget that the streaming giant is about to become the exclusive home for Disney films this fall. This exclusivity pact does hurt another streaming service, Hulu, whose deal with the CW is set to expire soon. Until now, viewers could watch episodes the day after they air. Now Hulu will need to begin searching for its own exclusivity deals.