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The Significance Of Hulu On Entertainment Industry

A shift in consumer interest is happening from traditional to streaming television. As a result, streaming platforms are gaining significant traction, enabling users to access content quickly, making regular television obsolete. The net worth of Hulu and subscription growth are both testaments to this. Furthermore, it is currently one of the world's largest players in the online streaming service sector.

Hulu is an on-demand OTT video streaming service owned by The Walt Disney Company, which offers films, television shows from stations like CBS, ABC, and NBC, as well as original content.

Among its offerings are the latest episodes of primetime, daytime, and late-night shows that are available after a few hours of airing. Jason Kilar was the company's first CEO.

Since its launch in October 2007, Hulu has had a viewership growth of 45.3 million. Despite the common perception that Hulu is nowhere near Netflix in popularity, its performance statistics prove otherwise.

With its viewer count and popularity rising every year, Hulu has proven to be one of the leading video streaming services like Netflix, Amazon Prime, and Disney+ Hotstar. So without further ado, let's look at some latest stats to find the impact of Hulu on the entertainment industry.

Key Statistics for Hulu in 2022
● Hulu has 45.3 million paid subscribers.
● Currently, Hulu is available only in Japan and the U.S.
● Hulu's subscriber base is primarily female, about 52%.
● Among Hulu's subscribers, 54% are Generation Z or Millennials.
● 78% of Hulu viewers watch it in their living rooms.
● 62% of Hulu viewers watch it with ads.
● Today, the company is worth $8.7 billion, with an expected growth of $27.5 billion by 2024.

Countries Where the Service is Available
Currently, Hulu is available only in the United States and Japan. It has always been a regional service, with major revenue contributions from the US.

Despite its limited availability, some users are outside the US and Japan, like people who want to watch Hulu in NZ (New Zealand), the United Kingdom, Germany, Austria, India, France, Italy, Spain, etc. They bypass the location barrier by using VPN software and gaining access to the platform's content.

Below are some key factors to Hulu's massive success:

Intending to beat the competition
Hulu, sometimes regarded as the industry underdog, also announced a series of improvements and changes to its service, including the ability for subscribers to download shows and watch them without access to the internet. Also, Hulu's hybrid subscription model plus live TV makes it pretty unique and compelling.

CNN reports that GBH Insights analyst Daniel Ives thinks Hulu could carve out a niche among its competitors and "really try to establish itself within Hollywood" as a viable alternative. But, according to Ives, there's a battle going on outside of Netflix for who can be the No. 2, No. 3 player.

Introducing New Original Content
Hulu's most popular series is The Handmaid's Tale, among its original series. In addition, it gained acclaim for its limited series “The Act”, in which Patricia Arquette won an Emmy, and its comedy series “PEN15”.

Having acquired 21st Century Fox, Disney now has a portfolio of production companies that it can use to create original content for Hulu. Additionally, Disney will rely heavily on its intellectual property portfolio to generate content for Hulu that will be able to gain the attention of a wide audience.

Hulu also plans to replace licensed content that Comcast, WarnerMedia, and others have removed from the platform with its original series.

Watch Live TV
Hulu's biggest advantage is its live TV service, Hulu+Live TV. It is one of the cheapest options available for streaming live TV, and the value is considerably higher than that of AT&T TV Now (formerly DirecTV Now). In addition, Hulu's on-demand service and advertising revenues enable it to sustain its pricing.

Hulu has become the leading virtual MVPD (Multichannel Video Programming Distributor) thanks to its lower prices and on-demand platform integration. It now has millions of subscribers, and the number is growing rapidly.

As with Disney's package, Hulu's live TV service is another way to bundle. It should improve subscriber retention and give consumers a reason to choose Hulu over the competition. In addition, because of its strong advertising business and integration with Disney's ad sales team and its improved value from originals based on time-tested intellectual properties, Hulu should be good in the face of competition.

The Final Thoughts
In summary, Hulu viewership statistics show that the service's popularity has increased significantly in recent years, especially regarding the COVID-19 restriction.
From its launch to its acquisition by Disney, Hulu has had a long journey. However, Hulu has fared fairly well against the competition from other players such as Netflix and Amazon Prime.

Thus, it is safe to conclude that its popularity will only continue to grow, and Hulu will dominate the streaming market.

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