To kick off the new school year, Spotify and Hulu have teamed up to offer a premium subscription bundle for college students. For $4.99 a month, students can listen to their favorite music on Spotify, and watch their favorite TV shows on Hulu with a single subscription. They are calling the bundle Spotify Premium for Students, now with Hulu.

The title isn’t memorable, but the concept is. Spotify is offering the new bundle to all qualifying new and existing Spotify student subscribers, along with Hulu’s Limited Commercials plan. Current Spotify subscribers can switch their accounts to the new service by logging into their account online. Hulu subscribers can merge their existing account with the new bundle, if they pay Hulu directly. This option is not available if Hulu is billed through a third-party.

The new bundle is available through each brand’s app. The offer is available to undergraduate students over age 18 who are enrolled in a U.S. Title IV accredited college or university in the U.S. Spotify verifies enrollment status through a third-party. After students graduate, they can keep this price for up to 12 months from the subscription or last verification date. After that, they’ll be switched to Spotify Premium at $9.99 a month and lose access to Hulu.

‘In bringing Spotify and Hulu together, we’re now able to offer students – both the millions already on Spotify Premium, and those who are new to Spotify – access to the world’s best music, TV and movie content in the simplest possible way,’ said Alex Norstrom, Spotify’s Chief Premium Business Officer, said in a statement. ‘We’re very excited to be partnering with Hulu – a like-minded company which is as focused as we are on delivering the very best in high quality streaming content.’

Tim Connolly, SVP, Head of Distribution and Partnerships, at Hulu also commented on the partnership.

‘We are proud to announce Spotify as our newest strategic partner – they’re an iconic brand in music streaming and a proven leader in reaching and engaging young consumers. By bundling our enormous catalogues of content together in a single, highly compelling offer, we’re making it easier for people to enjoy all of the TV and music they love, whenever and wherever they want,’ Connolly said.

This is the first music-movie partnership for Spotify. Streaming music service Spotify has more than 140 million active users, including more than 60 million paying subscribers in 61 markets. Streaming video-on-demand service Hulu offers ad-supported and commercial-free television shows, and recently added live TV as a new service.

Insider Take:

This is a great partnership. Spotify gets to add value for its existing customers, which may improve retention, and Hulu gets the opportunity to reach a new audience. Granted, students will lose access to Hulu after graduation, but if they love the service, they may subscribe to Hulu anyway.

From a subscription perspective, this is a way for Spotify and Hulu to partner and to test the potential of that partnership. Perhaps if this experiment is successful, they will try a similar partnership for non-students. We’ve got our fingers crossed.