Disney secures a 30% stake in Hulu
The entertainment giant, Disney has acquired a stake in US online TV platform Hulu, the joint venture between NBC Universal and News Corp.
Today’s reports have revealed that Disney is taking almost a 30% stake in the platform, although financial details have not been disclosed.
This follows Hulu’s deal in March with Digital Rights Group, making it the first Britiah distributor to work with the service.
The deal will see Disney screen full-length episodes of its ABC TV programmes such as Lost, Desperate Housewives and Ugly Betty on Hulu.
President and CEO at the Walt Disney Comapny, Robert Iger, president will sit on Hulu’s board of directors, together with Kevin Mayer, executive VP, corporate strategy, business development & technology and Anne Sweeney, co-chair of Disney Media Networks and president, Disney/ABC Television Group.
Iger said, “From our landmark iTunes deal to our pioneering decision to stream ad supported shows on our ABC.com player, Disney has sought to meet the constantly evolving viewing habits of our consumers, and today’s Hulu announcement is the next important step in that ongoing journey.”
Jason Kilar, CEO of Hulu, said, “We continue to aspire to deliver a service that users, advertisers and content owners unabashedly love.”
The Hulu-Disney agreement may have worrying consequences for it’s biggest rivals, YouTube and CBS, who are both involved in a battle with Hulu over online video viewers and revenue from adverts run during the programs.
Industry experts are also predicting that the deal could lumber Apple with some unwanted implications, as their stratergy for selling and renting video content online will be marred by Hulu’s growing popularity.
However, recent figures show that there is no need for YouTube to start sweating yet.
Despite the site’s flux in popularity, its average time-spent-per-viewer has declined. The site recorded 58 minutes per viewer in March, down from 79 in January, whereas YouTube viewers spent an average of almost two-and-a-half hours on the site in March.
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