Hulu Looks to Raise Funds for Original Programming
January 16, 2012 1:35 PM
comment(s) - last by
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 article is over a month old, voting and posting comments is disabled
1/16/2012 5:38:37 PM
Judging by all those media whore companies running Hulu, I doubt there will be anything "original" in this show either.
"Vista runs on Atom ... It's just no one uses it". -- Intel CEO Paul Otellini
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
Netflix Announces 7-to-1 Stock Split, Eyes Explosive Overseas Growth
June 23, 2015, 8:18 PM
Sources: Hack on Fed. Database Lost 4.1M Social Security Numbers, Personal Info
June 11, 2015, 9:11 PM
The Big One: Chinese Hackers Steal Records of 4 Million U.S. Gov. Employees
June 4, 2015, 8:13 PM
Tutorial: Here's How to Force YouTube or Vimeo VIdeos to Embed as HTML5
June 3, 2015, 10:14 PM
Google Finally Fixes Maps Bug That Was Giving Racist, Profane Results
May 21, 2015, 1:43 PM
The Pirate Bay Loses Its Iconic Swedish Dot SE Domains
May 20, 2015, 6:31 PM
Most Popular Articles
SanDisk's 200GB microSDXC Card Turns Smartphones Into Enviable PMPs
June 26, 2015, 2:02 PM
Windows XP, Vista Users Can Get Free Windows 10 Upgrade Thanks to Loophole
June 23, 2015, 2:23 PM
SpaceX Falcon 9's Seventh Supply Mission to ISS Ends w/ Fiery Stage 1 Explosion
June 28, 2015, 1:10 PM
U.S. Navy Spends $9M USD to Cling to Windows XP, Office 2003
June 24, 2015, 2:03 PM
F-16 Schools Trillion-Dollar F-35 in Mock Combat, Fleeing is Best Option Pilot Admits
July 1, 2015, 5:53 PM
Latest Blog Posts
Sceptre Airs 27", 120 Hz. 1080p Monitor/HDTV w/ 5 ms Response Time for $220
Dec 3, 2014, 10:32 PM
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
"Bear Selfies" Fad Could Turn Deadly, Warn Nevada Wildlife Officials
Oct 28, 2014, 12:00 PM
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
More Blog Posts
Copyright 2015 DailyTech LLC. -
Terms, Conditions & Privacy Information