Disney takes full control of Hulu
When Disney officially acquired many of Fox’s assets back in March for $71.3 billion, they immediately gained complete control to names like 20th Century Fox, National Geographic, The Simpsons, a ton of superhero titles like X-Men, Fantastic Four and - honestly - a massive list that’s overwhelming to just think about.
During the time of the merger it was also announced that Disney would be taking a 30% stake in the popular streaming service Hulu.
Today, however, it has been revealed that Comcast is selling its remaining ownership stake in Hulu to Disney.
The sale, which will be for a minimum of $5.8 billion, will not happen for at least another five years but Disney will immediately take complete operational control of the company.
As many know, Disney has its own streaming service in the works, Disney+, that will be releasing late this year (and only costs $6.99 per-month!). The company has made clear that the main audience focus of Disney+ will be children but now - with full Hulu control - they will have own a streaming service more geared toward adults.
This is a very smart and practical move on Disney’s part as it’s safe to assume many households will end up subscribing to one - if not both - services.
Hulu has around 27 million subscribers, Netflix - for comparison - has nearly 150 million. Hulu is currently only available in the US but it would make sense for Disney to take it global to really compete with other available streaming services.
A large portion of Hulu’s content comes from NBC licensed shows and these licenses expire in 2024 - NBC has made clear they plan not pull their content after the licenses expire - but we can only expect Disney will begin creating their own content geared toward an older audience.
Side note: NBC also have plans to release their own streaming service sometime next year.
What are your thoughts on this? Does Disney have too much control on the film/TV world or will they breathe new life into the streaming service?
Let us know your thoughts on all this below!