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AT&T (which acquired Time Warner in 2018) sold back its roughly 10% stake the following month. In March 2019, Disney acquired 21st Century Fox, giving it a 60% majority stake in Hulu. Fox Networks Group COO Randy Freer was named CEO on October 24, 2017.
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Hopkins exited and was named Sony Pictures TV Chairman. In October 2012, Providence sold its 10 percent stake to "Hulu's media owners" and ceased participation in the board. The vacant CEO post was officially filled by former Fox Networks President Mike Hopkins on October 17, 2013. Hulu generated $420 million in revenue in 2011, $80 million short of the company's target. However, on October 13, 2011, Hulu and its owners announced that they would not sell the company, as none of the bidders offered an amount that was satisfactory to its owners. On June 21, 2011, The Wall Street Journal reported that an "unsolicited offer" caused Hulu to begin "weighing whether to sell itself". On August 16, 2010, a report revealed that Hulu was planning an initial public offering (IPO) which could value the company at more than $2 billion. ComScore says monthly video streams reached 903 million in January 2010, over three times the figure for a year earlier, and second only to YouTube. Įarly in 2010, Hulu chief executive Jason Kilar said the service had made a profit in two quarters and that the company could top $100 million in revenue by summer 2010, more than its income for all of 2009. In April 2009, The Walt Disney Company joined the Hulu consortium as a stakeholder, with plans to offer content from ABC and Disney Channel. With its investment came a seat on the board of directors, where Providence was said to act as an "independent voice on the board". In July 2007, Providence Equity Partners, the owner of Newport Television, became one of the earliest "outside" investors by purchasing a 10 percent stake in the company for US$100 million equity investment, before the company was known as "Hulu". Advertisements have since aired featuring Eliza Dushku, Seth MacFarlane, Denis Leary, and Will Arnett. Hulu began an advertising campaign during NBC's broadcast of Super Bowl XLIII with an initial ad starring Alec Baldwin titled "Alec in Huluwood". The first product to launch was the HULU Syndication network, which was designed and developed by the NBC Universal team from New York, on October 29, 2007, followed by the destinations site. Hulu launched for public access in the United States on March 12, 2008. In October 2007, Hulu began the private beta testing by invitation, and later allowed users to invite friends. It invited users to leave their email addresses for the upcoming beta test. The name Hulu was chosen in late August 2007, when the website went live, with an announcement only and no content. Jason Kilar was named Hulu CEO in late 2007. Hulu was announced in March 2006 with AOL, NBC Universal (then co-owned by General Electric and Vivendi), Facebook, MSN, Myspace, and Yahoo! planned as "initial distribution partners". Individuals instrumental in the founding of Hulu include Bruce Campbell, Peter Chernin, JB Perrette, Mike Lang, Beth Comstock, George Kliavkoff, Darren Feher and Jason Kilar. And so when we were launching Hulu, we thought, 'what a great name that is.' And it had this great sort of symbolism of the holder of precious things, which is the holder of premium content. Jason Kilar, who served as CEO of Hulu, said the name comes from a Chinese proverb: The name Hulu comes from two Mandarin Chinese words, húlu ( 葫芦/ 葫蘆), " calabash bottle gourd", and hùlù ( 互录/ 互錄), "interactive recording". Disney controls Hulu Comcast has a minority financial stake in Hulu that it could sell by 2024. As of the third quarter of 2021, Hulu has 42.8 million subscribers. In 2017, the company launched Hulu with Live TV-an over-the-top IPTV service featuring linear television channels.
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In 2010, Hulu became the first streaming service to add "Plus" to its name when it launched a subscription service, initially branded as Hulu Plus, which featured full seasons of programs from the companies and other partners, and undelayed access to new episodes.
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Hulu was initially established as a joint venture between News Corporation and NBC Universal, Providence Equity Partners, and later The Walt Disney Company, serving as an aggregation of recent episodes of television series from their respective television networks. Hulu is exclusive to the United States and is not available in other countries. Hulu ( / ˈ h uː l uː/) is a streaming platform owned by The Walt Disney Company, with Comcast's NBCUniversal holding a minority stake. Disney Media and Entertainment DistributionĤ2.8 million (as of July 31, 2021 )
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