Disney plans to integrate the Hulu streaming app into Disney+, part of a focus on streaming entertainment. This integration aligns with the upcoming launch of an ESPN streaming service. Disney CEO Bob Iger noted that this will create a differentiated streaming proposition with a variety of content including family programming and sports. While Hulu as a brand will remain, its operations will be merged with Disney+. Disney+ and Hulu subscriptions have grown to 183 million, despite a dip in stock prices. Disney has also reached an agreement to acquire full control of Hulu.
The company is taking major steps forward in streaming with the upcoming launch of ESPN's direct-to-consumer service, our just-announced plans with the NFL, and our forthcoming integration of Hulu into Disney+, creating a truly differentiated streaming proposition that harnesses the highest-caliber brands and franchises, general entertainment, family programming, news, and industry-leading sports content.
While Hulu isn't disappearing as a brand, it's set to fold into the existing platform. This quarter, Disney+ and Hulu subscriptions grew to 183 million, up by 2.4 million from the previous quarter.
Hulu was initially founded in 2007 as a joint venture, with The Walt Disney Company and others later joining as stakeholders. Disney acquired 21st Century Fox's entertainment assets in 2019.
In June this year, both companies reached an agreement, with Disney set to pay $439 million to take full control of the platform.
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