21st Century Fox, NBCUniversal and The Walt Disney Co. jointly announced today that they will maintain their respective ownership positions in Hulu and together provide a cash infusion of $750 million to propel its growth.
Launched in 2008, Hulu is an aggregator of online television content from more than 400 content partners, with more than 30 million monthly unique visitors. Its premium subscription service Hulu Plus, launched in 2010, has surpassed four million subscribers.
“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 Disney Chairman and CEO Robert A. Iger.
Chase Carey, president and chief operating officer of 21st Century Fox, said “the best path forward for Hulu is a meaningful recapitalization that will further accelerate its growth under the current ownership structure.”
“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,” Carey said.