With ongoing acquisition spree, Disney has finally taken full control of HULU. As of Tuesday, Comcast and Disney have happened to come to a deal. While Comcast still holds 33% of the ownership of HULU but Disney has full control on its operations. It’s only been a few months since Disney acquired 21st-century fox and major stake of HULU came with it.
The dealing is not very surprising, as the majority of HULU’s stake came with the fox’s acquisition. Disney seemingly making significant progress with it. With the acquisition of 21st-century fox and now having entire control on HULU, Disney has become one powerful opponent to Netflix and Amazon prime both. Assumingly, This has been done to challenge Netflix mainly.
According to the sources, the two streaming giants have come to an agreement, apparently called “put/call” agreement. According to which, there will be a 5-year contract after which Comcast can sell NBC universal’s 33% of stake by the year 2024, which also means Disney can also demand NBC universal sell their 33% of share at the fair market price.
Furthermore, Comcast has announced to stream all the content of NBC universal On Hulu up till 2024. These dealings have made Disney more powerful in the streaming industry, hoping to give Netflix a good run for its money. After the success of the Runaways, it’s going to enter in its season 3rd. In addition to this, Disney has launched its own streaming service which will be more focused on children.
Not only that, it’s monthly subscription is way cheaper than what Netflix charges for a subscription. If the sources are to be believed, Disney+ will be offered with discounts and other offers involving Hulu and it’s sports service, Espn plus.
Disney is aggressively making their way into the streaming services, with now holding control over Hulu it can be seen as a major competitor to Netflix.
When asked the CEO about Netflix as their competitor, Iger said Disney has more fans worldwide than Netflix would ever have. He further added that Disney has an appeal and it has Marvel and Pixar fans from every corner of the world, pointing to their unbeatable recognition and fan following in South Asia. Bragging their image, Iger said he had to Google all that they own. Disney seemingly is aiming to just take everything for themselves. Do mention what your thoughts are regarding this new acquisition of HULU by Disney.