They always say, “You gotta spend money to make money.” Right now, media companies are doing a lot of spending on Hulu. Following Thanksgiving, The Walt Disney Company released their third-quarter report. In it, the media giant projected a $100 million loss due to their investment in Hulu. That number is expected to increase.
Disney, Comcast/NBCUniversal, and 21st Century Fox all own 30% of Hulu (With Time Warner, Inc. holding 10%). The Walt Disney Company isn’t the only one forking out a lot of money. Home Media Magazine reported that 21st Century Fox was also down with a $62 million loss attributed to their contributions to Hulu.
It’s been reported that following the success of The Handmaid’s Tale, and trying to compete with Netflix’s growing library of original content, Hulu plans on spending up to $2.5 billion.
Then Hulu rolled out a live television stream. All of these costs have added up, as shown in the financial reports. However, there is no turning back for these investors.
Bob Iger, Disney CEO spoke on Hulu Live, stating,
“We’ve seen some nice numbers there. It will be a significantly valuable business for us.”
FOX CEO, James Murdoch also weighed in when he reported his company’s $62 billion loss.
Continuing on with the plan, Hulu Live has rolled out on Samsung Smart TVs.
Hulu Live is now available on:
- Amazon Fire TV devices
- Android TV
- Apple TV 4th Gen
- Nintendo Switch
- Os Systems
- Samsung Smart TVs
- X Box One