Hulu's Staying Put: No New Owner For The Video Streaming Site
It was starting to feel like the saga that wouldn't end, and honestly, like Hulu was puffing itself up way, way too much. Now, after much discussion, it appears that Hulu's owners will retain that ownership, and a sale won't be on the table. While the likes of Yahoo! were rumored to have placed bids on the video delivery service, a press release this week confirmed that 21st Century Fox, NBCUniversal and The Walt Disney Company will be maintaining their stakes in Hulu. Sorry, bidders!
Together, the three owners will place a cash infusion of $750 million into Hulu in order to propel future growth. 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.
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. It still feels as if Hulu may go on the auction block once more in the future, but for now, it's staying put. Phew.
Together, the three owners will place a cash infusion of $750 million into Hulu in order to propel future growth. 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.
"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."
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. It still feels as if Hulu may go on the auction block once more in the future, but for now, it's staying put. Phew.
