Click to Skip Ad
Closing in...
Kristen Stewart Is First American Actress Nominated for César Awards in 30 Years; 'Saint Laurent' Leads with Ten Kristen Stewart Is First American Actress Nominated for César Awards in 30 Years; 'Saint Laurent' Leads with Ten How They Sustained the Times Square Momentum in 'Birdman' VIDEO How They Sustained the Times Square Momentum in 'Birdman' VIDEO 6 Things to Know About Sexy Sundance Breakout 'Diary of a Teenage Girl,' Part of Sundance's Women's New Wave 6 Things to Know About Sexy Sundance Breakout 'Diary of a Teenage Girl,' Part of Sundance's Women's New Wave Sundance Raves About Ewan McGregor as Jesus and the Devil in 'Last Days in the Desert' Sundance Raves About Ewan McGregor as Jesus and the Devil in 'Last Days in the Desert' Filmmakers, Give Us Your Numbers! Sundance and Cinereach Unveil The Transparency Project Filmmakers, Give Us Your Numbers! Sundance and Cinereach Unveil The Transparency Project Top Ten Takeaways: Polarizing 'American Sniper' Speeds Past $200 Million; Lopez Trounces Depp Top Ten Takeaways: Polarizing 'American Sniper' Speeds Past $200 Million; Lopez Trounces Depp Arthouse Audit: Panic Time? 'Mommy,' 'Red Army,' 'Black Sea,' 'Cake,' 'Duke of Burgundy' All Disappoint Arthouse Audit: Panic Time? 'Mommy,' 'Red Army,' 'Black Sea,' 'Cake,' 'Duke of Burgundy' All Disappoint 2015 PGA Winners: 'Birdman' Steals 'Boyhood''s Awards Season Thunder 2015 PGA Winners: 'Birdman' Steals 'Boyhood''s Awards Season Thunder Watch: Nicole Kidman Talks 'Strangerland' at Sundance (Exclusive Video Interview) Watch: Nicole Kidman Talks 'Strangerland' at Sundance (Exclusive Video Interview) Sundance Acquisitions Market Heats Up with 'The Bronze' and 
'The Witch' Sundance Acquisitions Market Heats Up with 'The Bronze' and 'The Witch' Sundance: Netflix Inks Four-Picture Deal with Duplass Brothers Sundance: Netflix Inks Four-Picture Deal with Duplass Brothers Early Reviews Portend Sundance Breakout in Stylish Historical Horror 'The Witch' Early Reviews Portend Sundance Breakout in Stylish Historical Horror 'The Witch' Sundance: 5 Things to Expect From Alex Gibney's Damning Scientology Doc 'Going Clear' Sundance: 5 Things to Expect From Alex Gibney's Damning Scientology Doc 'Going Clear' Sundance Reviews: 'The Bronze' Is "Potty-Mouthed," "Vinegar-Spirited," Racy Gymnast Comedy Sundance Reviews: 'The Bronze' Is "Potty-Mouthed," "Vinegar-Spirited," Racy Gymnast Comedy 'American Sniper' Writer Jason Hall Addresses Concerns About Clint Eastwood's Controversial War Pic 'American Sniper' Writer Jason Hall Addresses Concerns About Clint Eastwood's Controversial War Pic Martin Scorsese Breaks Long-Awaited 'Silence,' Set to Begin Filming This Month Martin Scorsese Breaks Long-Awaited 'Silence,' Set to Begin Filming This Month Watch: Meet the Women of 'Birdman' (Exclusive 4-Minute Featurette) Watch: Meet the Women of 'Birdman' (Exclusive 4-Minute Featurette) Watch: Hitchcock's Thwarted Holocaust Documentary Comes to HBO Watch: Hitchcock's Thwarted Holocaust Documentary Comes to HBO Best Actor Oscar Predictions 2015 UPDATED Best Actor Oscar Predictions 2015 UPDATED Oscar Predictions 2015 Oscar Predictions 2015

Studios Sticking with Hulu

Photo of Anne Thompson By Anne Thompson | Thompson on Hollywood July 12, 2013 at 1:52PM

Hulu was for sale. But studios 21st Century Fox, NBCUniversal and The Walt Disney Company are doubling down in the web streaming service. They will maintain their respective ownership positions and together have committed to lay down a cash infusion of $750 million. They say they're investing in future growth.
0
Hulu logo

Hulu was for sale. But studios 21st Century Fox, NBCUniversal and The Walt Disney Company are doubling down on the web streaming service. They will maintain their respective ownership positions and together have committed to lay down a cash infusion of $750 million. They say they're investing in future growth.

Truth is, they didn't get the price they were looking for--they wanted more than the $2 billion they were asking for in 2011. Interested buyers included Peter Chernin, an early proponent when he ran the 20th Century version of Fox, who brought in partner AT&T, Time Warner Cable, Yahoo, and DirecTV. But with Netflix and Amazon and Google continuing to encroach on the entertainment arena, the old-guard studios need a plan. 

For now they're continuing with Hulu. Which is successful! This year, reports the NYT, viewers streamed more than one billion videos--mostly TV shows-- on the site in a single three-month period. Clearly, online streaming is for many a preferred way to view content. And Hulu has also entered the original content arena, producing some twenty shows to date. Why should the studios give this valuable future-looking company up to their rivals? 

Launched in 2008, Hulu is now a leading aggregator of premium online television content from over 400 content partners, and has achieved more than 30 million monthly unique visitors. But the three owners have different views and needs for the future. Disney, Fox and NBCUniversal all own broadcast networks; because NBCUniversal is owned by Comcast, it is a nonvoting partner.

Hulu launched its premium subscription service, Hulu Plus, in 2010, which has now surpassed four million subscribers after more than doubling in 2012. Hulu achieved record revenues of $690 million that same year.

“Hulu has emerged as one of the most consumer friendly, technologically innovative viewing platforms in the digital era.  As its evolution continues, Disney and its partners are committing resources to enable Hulu to achieve its maximum potential,” said Robert A. Iger, Chairman and CEO, The Walt Disney Company.

 “We believe the best path forward for Hulu is a meaningful recapitalization that will further accelerate its growth under the current ownership structure,” said Chase Carey, President and Chief Operating Officer of 21st Century Fox.  “We had meaningful conversations with a number of potential partners and buyers, each with impressive plans and offers to match, but with 21st Century Fox and Disney fully aligned in our collective vision and goals for the business, we decided to continue to empower the Hulu team, in this fashion, to continue the incredible momentum they've built over the last few years."


This article is related to: Hulu, Twentieth Century Fox Film Corporation, NBC Universal, Walt Disney


E-Mail Updates