Hulu Looks to Raise Funds for Original Programming
January 16, 2012 1:35 PM
Hulu's first scripted show "Battleground"
The company is looking to raise money this year for original programming in order to compete with video streaming giant Netflix
Hulu is following in Netflix's footsteps with plans to raise money for
, including its first scripted show that is to premiere next month.
According to Andy Forssell, Hulu's chief content officer, the company is looking to raise money this year for original programming in order to compete with video streaming giant Netflix, which spends about $2 billion on content annually. Original programs account for about 5 percent of Netflix's content budget.
Hulu is doing pretty well for itself with 2011 revenue of $420 million and
over 1.5 million subscribers
. According to Jason Kilar, Hulu's chief executive officer, the company will spend $500 million on TV shows and movies in 2012, which is a boost from the $300 million Hulu predicted last year. Hulu plans to raise money through added subscribers (
$7.99 per month for
) by offering hit shows like "Misfits," which it acquired rights to last June.
"We have a very healthy business," said Forssell. "When you have a healthy business, capital is not a problem. There are plenty of people who want to help."
Hulu, which is owned by Walt Disney Co.'s ABC, Fox, Providence Equity Partners, and Comcast Corp.'s NBC, plans to release its first scripted show on February 14 called "Battleground," which is a mock-documentary about a third-place political candidate attempting to compete with rivals in Wisconsin.
In addition, Hulu ordered 10 new episodes of "A Day in the Life," which is a documentary series that will return in March, as well as a six-part documentary by Richard Linklater called "Up to Speed," which is due out in late 2012.
"We want to make great shows and get them out to the widest audience," said Forssell. "We considered giving earlier access to Plus users and other benefits, but right now the aim is to get them out to as many folks as possible."
Forssell mentioned that Hulu will continue adding exclusive programming through the first half of the year even if it doesn't raise money.
"We generate more buying power than most people assume," said Forssell. "We're not just a subscription model. We're not just an ad-based service. We're both."
Netflix will be launching its first original program,
just over a week before Hulu's "Battleground" releases in February. Netflix will then premiere its other original show, "House of Cards," later in 2012.
"This is from the DailyTech.com. It's a science website." -- Rush Limbaugh
Netflix Dives Into Original Programming with "Lilyhammer" Series Before "House of Cards"
January 4, 2012, 7:41 AM
Hulu Plus Hits One Million Subscriber Mark Well Ahead of Schedule
September 22, 2011, 12:16 PM
Hulu Plus Launches at $7.99/Month
November 17, 2010, 10:01 AM
Science & Environment
February 20, 2017, 6:37 AM
The USA’s newest weather satellite sends first photos.
January 24, 2017, 6:41 AM
Netflix took a decision to invest in original content
January 19, 2017, 7:00 AM
Amazon Airborne Fulfillment Center – Your Merchandise Drop-Shipped from the Clouds
December 29, 2016, 5:00 AM
Amazon is experimenting with a new kind of grocery stores, Amazon Go
December 8, 2016, 5:00 AM
Google has developed Deep Learning Algorithm to detect Diabetic Eye Disease
December 4, 2016, 5:00 AM
Most Popular Articles
Samsung Galaxy S8, Rumored Launch Date!
March 18, 2017, 6:45 AM
Lenovo MIIX 510 – Excellent 2-In-One Tablet with Unique Watchband Hinge
March 17, 2017, 7:50 AM
Gigabyte GA-Z170X-Gaming G1 – Intel Thunderbolt 3 Certified Motherboard
March 9, 2017, 6:25 AM
Xiaomi Mi Note 2 – This Chinese Phablet is the Best
February 24, 2017, 7:25 AM
Lenovo ThinkPad T460 - Ultra-Thin and Feather-light
March 3, 2017, 6:00 AM
Latest Blog Posts
Apple buys an automation app called Workflow. The deal was completed today and brings the app along with its developers.
Mar 23, 2017, 7:35 AM
Apple Announces new color for iPhones and iPads
Mar 22, 2017, 7:45 AM
Instagram: You Can Now Save Live Videos For Later
Mar 21, 2017, 7:49 AM
Samsung Galaxy S8 to Get New Color Scheme
Mar 20, 2017, 7:45 AM
What else to worry about?
Mar 17, 2017, 6:45 AM
Icon of the Day: Intel/ NVIDIA or Mobileye
Mar 16, 2017, 6:15 AM
JUST IN - Twitter Hijacked : High-Profile Account Accesses
Mar 15, 2017, 7:07 AM
Mar 14, 2017, 7:30 AM
News and Tips
Mar 13, 2017, 6:30 AM
iPhone 8 – May Not Get Curved Screen
Mar 11, 2017, 8:00 AM
California paves way to self-driving car tests without humans
Mar 11, 2017, 7:18 AM
Smart Machines V hackers
Mar 10, 2017, 7:00 AM
Uber Can Resume Autonomous Car Testing in California
Mar 9, 2017, 6:50 AM
Mar 8, 2017, 7:09 AM
Mar 7, 2017, 8:45 AM
World news 3-6
Mar 6, 2017, 5:40 AM
Mar 4, 2017, 7:40 AM
Mixed News of the Day
Mar 4, 2017, 6:32 AM
Jaguar Land Rover invests in ride-sharing
Mar 3, 2017, 7:00 AM
Mixed News of The World:
Mar 2, 2017, 7:02 AM
World New 3-1
Mar 1, 2017, 6:30 AM
Gaming News of The Day
Feb 28, 2017, 6:56 AM
More Blog Posts
Copyright 2017 DailyTech LLC. -
Terms, Conditions & Privacy Information