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
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
Google plans ultra-fast wireless Internet for Research Triangle Park, N.C.
August 12, 2016, 6:30 AM
Most Popular Articles
Super Hi- Vision Will Amaze the World
January 16, 2017, 9:53 AM
Samsung Chromebook Plus – Coming in February 2017
January 17, 2017, 12:01 AM
Samsung 2017 Handset’s Updates
January 17, 2017, 12:01 AM
Comparison – Surface Pro VS Tbook X5 Pro
January 21, 2017, 7:00 AM
Comparison – iPad Mini Vs Huawei MediaPad M3
January 19, 2017, 2:08 AM
Latest Blog Posts
Jan 24, 2017, 6:51 AM
Some new News
Jan 23, 2017, 8:59 AM
What is new?
Jan 22, 2017, 7:00 AM
Nintendo signals end for Wii U
Jan 21, 2017, 7:00 AM
Jan 20, 2017, 7:00 AM
News of the World
Jan 19, 2017, 7:00 AM
News of the Day Wednesday 1/18/2017
Jan 18, 2017, 12:01 AM
Jan 17, 2017, 12:16 AM
News of the Day
Jan 16, 2017, 12:10 PM
News and Technology Advancement
Jan 16, 2017, 7:58 AM
Jan 15, 2017, 12:32 AM
Here is Some News
Jan 14, 2017, 12:39 AM
News: Improved and New products
Jan 13, 2017, 12:01 AM
News around the world
Jan 12, 2017, 12:01 AM
Rumors and Announcements
Jan 11, 2017, 12:01 AM
This year CES and ridiculous gadgets
Jan 10, 2017, 12:01 AM
Nokia Android phone spurns the west.
Jan 9, 2017, 12:08 AM
New at CES 2017 - Changhong 8K Super Slim TV 65ZHQ3R
Jan 8, 2017, 1:07 AM
Debuted at CES 2017 - Vuzix Blade 3000 Smart Sunglasses
Jan 8, 2017, 12:39 AM
Some news of Day
Jan 7, 2017, 12:01 AM
News 2017 CES
Jan 6, 2017, 12:01 AM
More Blog Posts
Copyright 2017 DailyTech LLC. -
Terms, Conditions & Privacy Information