Disney Takes Full Control Of Hulu After Striking Deal With Comcast

BYAron A.Updated on September 26, 20221.6K Views

In this photo illustration, the Hulu media service provider's logo is displayed on the screen of a television on January 10, 2019 in Paris, France. Hulu, a streaming video service competing with Netflix and Amazon Prime Video, announced in a statement released on Tuesday that it has surpassed 25 million subscribers and has gained 8 million users in a year in the United States by 2018. Hulu is a US subscription-based video-on-demand website that offers movies, TV shows and music videos.

Disney's officially set to challenge Netflix and Amazon in the streaming world.

Disney's already unveiled plans to launch their own streaming service, Disney+, which they planned on challenging streaming giants with. Now, they've made a power move on their way to rival Netflix and Amazon. Disney announced that they've struck a deal with Comcast and will take "full operational control" of Hulu immediately. Comcast's deal with Disney over Hulu values the streaming service at $27.5 billion U.S. which Comcast will be allowed to sell in 2024, even if the streaming service is worth less than that. Comcast ultimately gets at least $5.8 billion for its stake in Hulu, per their agreement.

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On Disney's end, they'll have to pay Comcast for the Hulu content over the next five years. NBCUniversal, CNBC’s parent company, will be able to stream the same content on its streaming service which is expected to launch next year. NBC channels will be on Hulu Live for a high rate.

“Hulu represents the best of television, with its incredible array of award-winning original content, rich library of popular series and movies, and live TV offerings,” Disney CEO Bob Iger said about the deal. “We are now able to completely integrate Hulu into our direct-to-consumer business and leverage the full power of The Walt Disney Company’s brands and creative engines to make the service even more compelling and a greater value for consumers.”

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About The Author

Aron A.

Aron A. is a features editor for HotNewHipHop. Beginning his tenure at HotNewHipHop in July 2017, he has comprehensively documented the biggest stories in the culture over the past few years. Throughout his time, Aron’s helped introduce a number of buzzing up-and-coming artists to our audience, identifying regional trends and highlighting hip-hop from across the globe. As a Canadian-based music journalist, he has also made a concerted effort to put spotlights on artists hailing from North of the border as part of Rise & Grind, the weekly interview series that he created and launched in 2021. Aron also broke a number of stories through his extensive interviews with beloved figures in the culture. These include industry vets (Quality Control co-founder Kevin "Coach K" Lee, Wayno Clark), definitive producers (DJ Paul, Hit-Boy, Zaytoven), cultural disruptors (Soulja Boy), lyrical heavyweights (Pusha T, Styles P, Danny Brown), cultural pioneers (Dapper Dan, Big Daddy Kane), and the next generation of stars (Lil Durk, Latto, Fivio Foreign, Denzel Curry). Aron also penned cover stories with the likes of Rick Ross, Central Cee, Moneybagg Yo, Vince Staples, and Bobby Shmurda.