Even after courting offers following weeks of talks, Hulu’s owners on Friday announced suggestions of a sale were just one big lead on. NBCUniversal, 21st Century Fox and The Walt Disney Company have all decided to keep their existing Hulu shares, and instead collectively contribute $750 million to help develop the popular streaming service into something bigger.
Reports of Hulu preparing to sell have been pervading news channels for months, with DirecTV and Yahoo among the companies willing to acquire the service. Today’s turn of events are certainly surprising, though not entirely unexpected given the longevity of such rumors and the uncertainty surrounding Hulu’s future. The streaming service has grown into one of the more popular online media destinations, it must be said, though it hasn’t quite reached Netflix levels. It sounds like that $750 will be put towards changing that.
“As [Hulu’s] evolution continues, Disney and its partners are committing resources to enable Hulu to achieve its maximum potential,” said Disney chairman and CEO, Bob Iger.
It sounds like, even though meaningful talks were held with potential buyers, the potential future value of Hulu would far exceed current sale value. At 30 million monthly unique visitors, and 400 content partners, Hulu certainly has a big enough following to grow into something more substantial. Now that Hulu owners have a clear vision and focus in mind for the platform, lets see if it can move in a positive direction.