Disney, the majority shareholder of Hulu, announced this Wednesday that it will buy a third of the streaming platform for 8.6 billion dollars (8.11 billion euros) from NBC Universal, a subsidiary of the television operator. Comcast cable, which will allow it to acquire full control of the company. The acquisition “will advance Disney’s streaming goals,” the company said in a press release, and comes as it strives to increase the number of subscribers to its service Disney+ streaming company. The deal values Hulu at $27.5 billion in total, according to Disney, which said the transaction will be completed by December 1. The American giant will now be the sole owner of Hulu, which is already available on its subscription services in the US, including Disney+ and sports content platform ESPN+. An advertising-subsidized bundle of the three services costs $15 per month in the US (14.15 euros), with an ad-free version available for $25 dollars per month (23.58 euros).The company will release its latest quarterly earnings report next week, providing a look at the performance of its cable and streaming services in the highly competitive market.Disney reported in August that Disney+ it lost more than 10 million subscribers in the recently ended quarter, largely in the Indian market. Disney+ ended the second quarter of this year with 146.1 million subscribers, compared to just 158 million in the previous quarter, the group said. Disney rival Netflix said last month that subscriber numbers grew nearly 11 percent to 247 million as it cracked down on password sharing and refined an advertising-supported subscription plan. prices for some of its plans, which perhaps creates an opportunity for competitors like Disney. Netflix said in an earnings report that its advertising-supported plan was gaining traction, and Disney’s upcoming earnings should provide insight into whether the The same is true of its own similar plan. Meanwhile, film and television producers see productions continuing to be disrupted by an actors’ strike in the US, meaning a potential lack of new content needed to attract and retain streaming subscribers. .Hulu was founded in 2007 as a joint venture between News Corporation (20th Century Fox) and NBC Universal, with Disney soon joining as a partner, according to information on its website. Disney Chief Executive Bob Iger said during an earnings call in August that he was confident in the company’s long-term trajectory “despite short-term headwinds.”Iger told financial analysts that streaming, movie studios and theme parks will drive its growth over the next five years.Almost all of Disney+’s subscriber losses have occurred in India, where the entertainment titan earlier this year lost the broadcast rights to popular Premier League cricket matches.In Soon, Disney will release details of upcoming streaming price increases and the intention to make an advertising-supported Disney+ plan available in Canada and parts of Europe, according to Iger.
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