Launched in 2007, Hulu has become a known player in on-demand streaming for TV shows, movies, and originals.
With various subscription options, Hulu stands out for its extensive content library, including current series, classics, and exclusive Hulu Originals. But who uses the service and why?
Check out the latest Hulu statistics to know their user base and the changes for 2024.
Hulu's usage and market value: Who uses it, and how successful is the platform?
Born from a partnership between Fox and NBCUniversal, Hulu made its formal entrance into the scene in March 2017.
The service was originally designed for TV, but today offers movies, originals, and live TV.
Backed by Peter Chernin and guided by CEO Jeff Zucker, Hulu quickly became a streaming giant.
Hulu Subscribers Count
Over the past 14 years, Hulu has attracted millions of viewers.
Operating under Disney's entertainment umbrella, including ABC, Fox, and FX, Hulu blends a wide range of network content with its growing collection of popular original shows.
As of November 2023, Hulu reached 48.5 million paying subscribers.
Hulu falls under a new valuation debate as parent company Disney moves to buy out remaining partner Comcast's minority share.
A 2019 agreement set a $27.5 billion price tag if triggered, which Disney confirmed expecting to pay $8.6 billion for the extra equity by December 2023.
However, Comcast argues Hulu now warrants a significantly higher rate based on growth since that earlier figure.
Estimates from various analysts place the current value anywhere between $30 billion to $60 billion.
Hulu changes for 2024: Why did Disney want to own this service?
Two years after Hulu started, Disney joined the ownership table, sparking a strategic move among media giants.
In 2019, Disney bought Fox for $71 billion, including Fox's Hulu stake, increasing Disney's ownership to 67%.
Back then, Hulu played a key role in Disney's streaming plans. While Disney+ focused on family-friendly content, Hulu took on more mature shows from FX.
Now, what led Disney to buy out Comcast's remaining stake in Hulu?
Disney+ subscribers declined 7.4% in 2023, while Hulu maintained stability
Disney's streaming service, Disney+, experienced its first-ever decline in subscribers, ending Q3 2023 with 146.1 million global members. The 7.4% drop from the previous quarter exceeded Wall Street's predictions.
In comparison, Hulu maintained stability with 48.5 million subscribers.
With Disney+ facing challenges, the company aims to boost its streaming performance by integrating Hulu and Disney+ in 2024.
Hulu's ad-free plan is 29% pricier than Disney+
Examining leading streaming services owned by Disney, financial breakdowns reveal Hulu maintains a noticeable premium over Disney+ pricing tiers.
Hulu bills $17.99 monthly for ad-free viewing, a 29% increase over Disney+'s $13.99 ad-free subscription. On the ad-supported side, both share the same $7.99 rate.
Bundled together, the Disney+ and Hulu "Duos" only charge an extra $2 versus their base ad-included plans. But Hulu essentially includes a surcharge for adult-oriented content and live television capabilities on top of Disney+'s family focus.
Disney bought out Comcast's 33% ownership of Hulu
Closing a deal years in the making, Disney agreed to acquire partner Comcast's remaining 33% minority share of streaming television leader Hulu.
Hulu's high subscription pricing and live streaming packages generate nearly double the average revenue per subscriber compared to Disney+.
Financial records confirm Hulu earned an estimated $940 million monthly from, while Disney+ lags at $720 million.
Disney stock down 6%, Comcast up 20% in 2023
Disney shares sank 6.4% to ten-year lows after streaming woes and film underperformance in 2023. Meanwhile, Comcast stock rose nearly 20% thanks to broadband strength.
However, the recent Disney-Comcast deal received a tepid response from Wall Street, with Disney's shares growing by 0.5%, while Comcast saw a modest 0.1% increase.
Hulu and Disney+ collectively have the second-largest streaming catalog, surpassing Netflix
The Hollywood Reporter revealed that streaming giant Hulu and its sister platform Disney+, hold the second largest content library behind just Amazon Prime Video - but ahead of rival Netflix.
Analytics firm Ampere counted over 9,500 distinct movies and TV show seasons available between the Disney-owned apps.
Comparatively, Prime Video currently provides users with the most video-on-demand choices, with over 10,800 accessible titles as of mid-2023.
How did 2023 end for streaming platforms? Statistics to understand the context behind the changes at Hulu
6% monthly turnover rate: a worrying record for streamers
New Q3 data showed rising subscriber frustration with streaming services in 2023. Bloomberg reported a record 6% monthly churn rate in September, the highest since 2018.
With Netflix being the exception, other providers like Disney+, Hulu, and premium channels are experiencing increased subscriber exits, indicating growing dissatisfaction among cord-cutters.
Disney+ decided to merge with Hulu after losing 4 million subscribers in early 2023
In the first quarter of 2023, Disney+ reported losses of $659 million, a significant decrease from the previous quarter's $1.1 billion.
The rough start to Disney's 2023 included cutting 7,000 jobs after reporting its first streaming subscriber drop last quarter.
Facing profitability pressures, Disney announced plans to link content from Disney+ and Hulu into one consolidated US streaming app.
Meanwhile, Hollywood screenwriters stroke over fair compensation in the streaming era.
Hulu has grown by 3.37% in market share in one year
Hulu has seen a notable increase in market share, rising from 20.32% in Q1 2022 to 21.18% in Q1 2023, marking a growth of 3.37%.
Despite an overall decline in quarterly visits for major streaming services, Hulu's upward trajectory is positive.
Currently offering 7,250 titles, Hulu's collaboration with Disney contributes to a combined streaming library that includes one-third of the 100 most popular titles in the U.S.
Summary: Hulu Statistics: Facts for 2024
- What content is available on Hulu?
Hulu offers a diverse range of content, including popular and long-running American sitcoms like "It's Always Sunny in Philadelphia." Created by Rob McElhenney, the show, which premiered in 2005, has become a cult favorite with a dedicated following.
Hulu also showcases newer releases like "Welcome To Wrexham," and Emmy-winning series like "The Bear," which premiered in June 2022.
- How many people use Hulu in the United States?
Approximately 99.7 million people in the U.S. utilize Hulu services, making it a widely popular streaming platform in that country.
- What makes Hulu stand out?
Hulu provides access to over eighty live channels, delivering a seamless and immersive "watch-via-your-living-room" experience to 78% of its clientele.
The platform's commitment to replicating the traditional living room TV-watching experience aligns with the preferences of a significant portion of its audience.
Notably, the allure of premieres, especially in movies, remains strong, with the excitement and anticipation for new and exclusive content serving as a major draw for viewers.
With its subscriber lead now challenged, Disney bets consolidating Hulu programming into Disney+ under a single streaming app can offer users better entertainment value.
Surveys confirm viewers want more content for their monthly fees as inflation eats at consumer budgets. Combining two major libraries looks to unlock more signups and prevent cancellations affecting nearly all rival services.
Analysts project a joint Disney+/Hulu platform would hold the second most titles industrywide after only Amazon Prime Video, topping Netflix.
More critically, the strategy centers Disney+ again as the family-friendly core while using Hulu to retain adult viewers.
With over 9,500 total movies and shows, the simplified streaming bundle targets the price-conscious yet quality-focused audience emerging from the pandemic boom.
- Corporate - Hulu
- Disneys Buys Hulu: House Of Mouse To Acquire Remaining Comcast Share
- Disney and Comcast spar over Hulu's value
- Disneys Buys Hulu: House Of Mouse To Acquire Remaining Comcast Share
- Disney+ and Hulu Combo App Price, Parental Controls and More
- Disney+ and Hulu Combined Own Most Popular Titles in U.S.: Study
- The Music Industry’s First Reckoning With AI Is Upon Us - Bloomberg
- Disney+ and Hulu to combine content in single app
- Netflix's Market Share Decline Continues In 2023: Analysis Of Leading Streaming Platforms
- Hulu Users Statistics for 2023: Over 48 Million Subscribers