What Happened to Hulu?

Hulu was founded in March 2007 as a pioneering joint venture between NBCUniversal and News Corporation, later joined by Disney in 2009. Its initial mission was to provide a legal and accessible platform for streaming recent television episodes, quickly gaining traction with its free, ad-supported model. A key turning point came in June 2010 with the launch of Hulu Plus, introducing a subscription tier and expanding its reach to multiple devices. The service further diversified in 2017 with the introduction of Hulu + Live TV, positioning itself as a direct competitor to traditional cable television.

Disney's strategic interest in Hulu intensified with its acquisition of 21st Century Fox in March 2019, which gave Disney a 60% majority stake. This move was pivotal, as it allowed Disney to take operational control and integrate Hulu into its broader direct-to-consumer strategy alongside Disney+ and ESPN+. Over the next few years, Disney systematically consolidated its ownership, acquiring AT&T's stake in April 2019 and entering into an agreement with Comcast to purchase its remaining 33% stake by as early as 2024.

The full acquisition of Hulu by Disney was completed in June 2025, with Disney paying an additional $438.7 million to Comcast's NBCUniversal, bringing the total payment for the remaining stake to $9 billion and valuing Hulu at an estimated $27.5 billion. This full ownership removed any complexities of shared decision-making, allowing Disney to fully execute its vision for a unified streaming ecosystem. The integration process began with a beta test in December 2023, leading to the official launch of a Hulu content hub within Disney+ for bundle subscribers in March 2024.

As of mid-2026, Hulu remains a crucial component of Disney's streaming strategy. The company announced in August 2025 its plans to fully integrate Hulu into Disney+ in 2026, with the goal of creating a single, unified app experience that combines branded and general entertainment, news, and sports. While the standalone Hulu app is not expected to be immediately shut down, it will eventually be decommissioned as subscribers are organically migrated to the enhanced Disney+ platform. Internationally, Hulu replaced the Star brand on Disney+ in October 2025, establishing it as a global general entertainment brand.

Hulu continues to thrive in terms of content and subscribers. As of May 2026, Hulu boasts 64.1 million subscribers, with 59.7 million for its SVOD service and 4.4 million for Hulu + Live TV. The platform generated $3.2 billion in revenue in Q1 2025 and holds an 11% share of the US SVOD market. In August 2026, Hulu continues to release new original content and popular shows, including new seasons of 'Futurama' and 'It's Always Sunny in Philadelphia', demonstrating its ongoing commitment to a diverse content library.