REPORT: Hulu CEO Jason Kilar Asks Investors For $200 Million
Hulu CEO Jason Kilar is asking investors for $200 million additional funding. The three major movie and TV companies that own Hulu include Disney, Comcast, and News Corp. Hulu wants to use the additional $200 million in funding to buy more programs and expand overseas.
The $200 million is twice the amount that the owners of Hulu have given to the company in the past year. Hulu launched around 5 years ago and has not been profitable yet. Disney and News Corp. can vote on Hulu’s business model, but Comcast cannot.
News Corp. wants Hulu to be a subscription service and Disney wants the service to remain free with ads. Hulu had significant losses in the current fiscal year and Disney believes that this is because of losses on increased programming and marketing costs.
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry