Since the debut of Disney+, it has put into question the importance of Hulu. In an interview with CNBC, Disney CEO Bob Iger weighed in on the sale of Hulu as he has taken back his position from Bob Chapek. He is not closing the door on any possibilities for the company’s streaming endeavors.
Disney owns 67% of Hulu, with Comcast owning 33%. The company has focused on Disney+ with originals for Star Wars, Marvel, and National Geographic and putting theatrically released movies from all of its properties into these sections of the streaming service. When a branded platform is there alongside Hulu, it puts Bob Iger and the rest of the company in an awkward position when it comes to putting something on one platform versus the other.
“Everything is on the table right now, so I am not going to speculate whether we are a buyer or a seller. But I obviously have suggested that I’m concerned about undifferentiated general entertainment, particularly in the competitive landscape that we are operating in, and we are going to look at it very objectively and expansively.”
Disney CEO Bob Iger says, “everything is on the table” regarding Hulu sale
Disney+ debuted back in November 2019. Disney came to Hulu earlier that year. The company has utilized it for some exclusive shows and films, like Prey, the Predator prequel from last year that was exclusive to Hulu. When it comes to the sale of Hulu on both sides, Disney can require Comcast to sell by January 2024, or Comcast can independently sell by the beginning of next year.
Before Bob Iger came back, former CEO Bob Chapek was interested in buying Hulu completely, but Comcast CEO Brian Roberts was on the opposite end as he wanted to buy out Disney to keep Hulu for Comcast.
While the content differences could be a deciding factor, subscriber numbers for the two services have been a major factor. Recently, Disney+ saw a loss of 2.4 million subscribers, largely from Hotstar, the version in South Asia and India, as it saw major losses. Meanwhile, Hulu has gained 800,000 subscribers to push it to 48 million by the end of 2022.