Hulu is one of the most popular streaming platforms in the United States. Many people wonder who owns Hulu and how its ownership has changed over time. The platform has undergone significant transitions in recent years, especially after mergers and business restructurings involving major media companies.
History of Hulu
Hulu was launched in October 2007 as a joint venture between several media companies. These included NBCUniversal (then owned by General Electric), News Corporation (owner of Fox), and later, The Walt Disney Company. The goal was to create an online hub for recent TV shows and films. It quickly gained traction thanks to its ability to offer popular shows soon after their television broadcast.
Over the years, ownership shifted as companies sold stakes or merged.
In 2010, Disney and News Corp each held significant shares, and Comcast (which acquired NBCUniversal) joined them.
Hulu also launched its subscription tier, Hulu Plus, to complement its free ad-supported version.
By 2019, Disney emerged as the dominant force behind Hulu following key acquisitions.
Who Owns Hulu?
The Walt Disney Company currently owns Hulu. Disney gained majority control after its 2019 acquisition of 21st Century Fox, which previously held a 30% stake in Hulu. That deal gave Disney a controlling interest, as it already held a 30% share. Shortly after, Disney reached an agreement with Comcast to take full operational control of Hulu.
As of 2024, Hulu is a wholly owned subsidiary of The Walt Disney Company. Comcast still holds a minority stake, but Disney is expected to acquire that remaining stake through a buyout clause.
Here’s an overview of the major shareholders of Hulu:
| Shareholder | Ownership % | Role | Status | Notes |
|---|---|---|---|---|
| The Walt Disney Company | ~67% | Majority owner & operator | Current | Gained majority through Fox acquisition and control agreement with Comcast. |
| Comcast (NBCUniversal) | ~33% | Minority equity holder | Current | Has no control since 2019; Disney expected to buy out stake by 2025. |
| 21st Century Fox | 30% (before 2019) | Founding stakeholder | Former | Stake transferred to Disney after Fox acquisition in 2019. |
| Time Warner (Warner Bros. Discovery) | 10% (2016–2019) | Minority investor | Former | Sold its stake back to Hulu in 2019. |
| Public Investors (via Disney) | Indirect | Institutional shareholders | Ongoing (Indirect) | Shareholders in Disney (e.g., Vanguard, BlackRock) indirectly own Hulu. |
| Public Investors (via Comcast) | Indirect | Institutional shareholders | Ongoing (Indirect) | Shareholders in Comcast also have indirect exposure to Hulu’s value. |
The Walt Disney Company – Approx. 67% ownership and full control
Disney is Hulu’s largest shareholder. Its ownership increased significantly after its $71 billion acquisition of 21st Century Fox in March 2019. Fox previously held a 30% stake in Hulu. With that deal, Disney’s share jumped to around 60%, and then to roughly 67% after taking full operational control through a 2019 agreement with Comcast.
Disney manages all of Hulu’s business decisions, including its budget, content strategy, and integration with Disney+ and ESPN+. Hulu has since become a pillar in Disney’s streaming empire. Disney’s influence has also led to more original content and bundling options that include Hulu in its subscription plans.
Comcast (NBCUniversal) – 33% non-voting financial stake
Comcast, through its subsidiary NBCUniversal, currently holds a 33% equity interest in Hulu. This came from NBCUniversal’s original involvement when Hulu was founded. Comcast gave up its management rights in 2019 but retained its ownership stake.
In May 2019, Disney and Comcast entered a deal allowing Disney to assume full control of Hulu while Comcast retained its equity. The agreement included a put/call arrangement. This allows Disney to buy, and Comcast to sell, the remaining stake anytime after January 2024. The final price will be based on Hulu’s market valuation, which could exceed $27 billion.
While Comcast no longer influences Hulu’s operations, it continues to benefit from Hulu’s growth through its financial stake. NBCUniversal has since focused on developing its own streaming service, Peacock.
Former Shareholder: 21st Century Fox (now part of Disney)
Before Disney acquired it, 21st Century Fox owned a 30% stake in Hulu. Fox was a founding partner and contributed a significant library of TV shows and films to Hulu’s content library. The stake was transferred to Disney as part of the Fox acquisition deal in 2019. This transaction gave Disney majority ownership and led to Disney consolidating its streaming assets.
Former Shareholder: Time Warner (now Warner Bros. Discovery) – 10% (sold in 2019)
In 2016, Time Warner purchased a 10% stake in Hulu. This investment allowed it to contribute Turner Broadcasting content, such as CNN and TNT, and gain limited influence over strategic decisions. However, in 2019, AT&T (which had acquired Time Warner) sold its 10% stake back to Hulu. The buyback was split proportionally among the remaining shareholders—Disney, Fox, and Comcast—further increasing Disney’s share.
Public and Institutional Shareholders – Indirect Ownership via Disney and Comcast Stock
While Hulu itself is privately held and does not have publicly traded shares, both Disney and Comcast are publicly traded companies. This means retail investors, mutual funds, pension funds, and ETFs indirectly own parts of Hulu through their holdings in Disney or Comcast stock.
For example, major institutional shareholders such as:
- Vanguard Group (owns approx. 7.5% of Disney and 8% of Comcast)
- BlackRock (owns approx. 6% of Disney and 6% of Comcast)
- State Street Corporation
These firms indirectly influence Hulu by holding significant stakes in its parent companies. Though they do not directly control Hulu, their voting power within Disney and Comcast can affect high-level corporate strategy.
Who Controls Hulu?
Hulu is fully controlled by The Walt Disney Company. Although Comcast still holds a minority equity stake, it has no decision-making authority over Hulu’s operations. Disney took over management and strategic control in 2019, and since then, all major decisions have been made by Disney’s streaming leadership.
Disney’s Full Operational Control
In May 2019, Disney and Comcast entered into a control agreement. Under this deal, Disney received full operational authority over Hulu, even though Comcast retained its 33% equity interest. This arrangement gave Disney the power to direct Hulu’s content strategy, pricing, product features, advertising, and partnerships.
The agreement also included a buyout clause. Starting in 2024, Disney can purchase Comcast’s remaining stake at a price based on Hulu’s fair market value. The transaction is expected to be completed by 2025, at which point Disney will be the sole owner in both control and equity.
Hulu’s integration into Disney’s streaming division
Hulu is operated as part of Disney Entertainment, the segment that also includes Disney+ and ESPN+. Disney has aligned Hulu’s business strategy closely with its other streaming platforms. This includes content crossovers, unified subscription bundles, and shared infrastructure.
Hulu is managed by executives within Disney’s broader streaming leadership team. Decisions regarding original content, ad-supported tiers, and live TV services are all made within this centralized unit.
Hulu also shares technical and marketing resources with Disney+, improving cost efficiency and creating a seamless user experience across platforms.
Who is the CEO of Hulu?
As of 2025, Joe Earley is the President of Direct-to-Consumer for Disney Entertainment, which includes Hulu. He previously served as the President of Hulu before being promoted to lead Disney’s entire streaming portfolio. Under his leadership, Hulu has expanded its original programming, improved its user experience, and grown its subscriber base.
While Hulu no longer has a standalone CEO title, the service is now overseen by Joe Earley and his executive team, who manage Disney+, Hulu, and ESPN+ collectively. Joe Earley reports to Dana Walden, Co-Chairman of Disney Entertainment, who plays a major role in strategic decisions across Disney’s television and streaming operations.
Key executives working under Joe Earley help direct Hulu’s product development, advertising strategy, and content acquisition. Hulu’s leadership is now tightly integrated with Disney’s overall media strategy, ensuring consistency and synergy across all streaming platforms.
Annual Revenue and Net Worth of Hulu
In 2024, Hulu’s annual revenue reached approximately $15.7 billion, reflecting a substantial increase from previous years. This growth was driven by a combination of subscription price increases, an expanding subscriber base, and robust advertising revenue.
By 2025, Hulu’s revenue continued its upward trajectory, supported by its diversified revenue streams and strategic content offerings. The platform’s ability to attract both ad-supported and premium subscribers contributed to its financial success.
Hulu’s estimated net worth has seen a significant rise, with valuations reaching approximately $50 billion in 2025. This increase is attributed to the platform’s strong market position, innovative content strategy, and integration within Disney’s broader streaming ecosystem.
The valuation of Hulu has been a point of discussion between Disney and Comcast, especially concerning the buyout of Comcast’s minority stake. While Disney’s internal valuation placed Hulu below the previously agreed floor value of $27.5 billion, Comcast’s assessment valued Hulu at over $40 billion. An independent appraisal is expected to determine the final valuation, which could influence the financial terms of Disney’s acquisition of the remaining stake.
Here’s a detailed table showing Hulu’s historical revenue and estimated net worth:
| Year | Estimated Revenue (USD) | Estimated Net Worth/Valuation (USD) | Key Notes |
|---|---|---|---|
| 2015 | $1.6 billion | $5.8 billion | Ad-supported streaming gaining traction. |
| 2016 | $2.4 billion | $8.5 billion | Time Warner invests for a 10% stake. |
| 2017 | $3.1 billion | $9.5 billion | Subscriber growth and Hulu Live TV launch. |
| 2018 | $3.5 billion | $9.7 billion | Originals like The Handmaid’s Tale boost engagement. |
| 2019 | $4.5 billion | $10.6 billion | Disney gains control after Fox acquisition. |
| 2020 | $7.7 billion | $14.5 billion | Pandemic drives streaming demand. |
| 2021 | $9.6 billion | $19.0 billion | Strong growth from Live TV and ad-supported tiers. |
| 2022 | $11.2 billion | $25.0 billion | Increased bundling with Disney+. |
| 2023 | $12.2 billion | $27.5 billion | Valuation floor agreed upon in Disney-Comcast deal. |
| 2024 | $15.7 billion | $40.0–$45.0 billion (Comcast estimate) | Revenue spikes amid pricing and content investments. |
| 2025 | ~$16.8 billion (projected) | ~$50.0 billion (projected) | Independent valuation pending for Comcast stake buyout. |
Brands Owned by Hulu
Hulu itself does not own other companies, but it operates as part of Disney’s larger streaming network. However, Hulu produces and distributes its own original shows and owns quite a few brands. These include:
| Brand / Service | Owned By | Hulu’s Stake / Control | Notes |
|---|---|---|---|
| Hulu (On-Demand) | Hulu LLC (Disney) | 100% operational control | Core product; ad-supported and ad-free plans. |
| Hulu + Live TV | Hulu LLC (Disney) | 100% operational control | Virtual cable service; bundled with Disney+ and ESPN+. |
| Hulu Originals | Hulu LLC / Disney DTC | 100% control (internal) | Produces Hulu-exclusive shows and documentaries. |
| FX on Hulu | Disney (via FX Networks) | 100% (via internal licensing) | Branded FX content hub exclusive to Hulu. |
| Hulu Ad Manager | Hulu LLC | 100% (operated by Hulu) | Self-service ad platform for advertisers. |
| Disney+ Bundle Access | Disney Streaming | 0% (cross-bundled product) | Bundled with Disney+ and ESPN+ — not owned by Hulu but integrated. |
Hulu (On-Demand Streaming Service)
This is Hulu’s core product — a subscription-based streaming platform offering a wide variety of TV shows, movies, and exclusive originals. It includes current-season content from major broadcast and cable networks such as ABC, NBC, and FX, thanks to licensing deals and Disney’s vast media library.
Hulu has positioned itself as a hub for both popular network shows and critically acclaimed originals like The Handmaid’s Tale, Only Murders in the Building, and The Bear. Its on-demand library is available in both ad-supported and ad-free tiers.
As of 2025, Hulu has over 48 million subscribers and is a leading player in the U.S. streaming market.
Hulu + Live TV
Launched in 2017, Hulu + Live TV is a virtual multichannel video programming distributor (vMVPD) offering over 90 live channels, including sports, news, and entertainment.
It combines traditional cable television with Hulu’s on-demand library, giving subscribers a seamless live and on-demand experience. It also includes access to Disney+ and ESPN+ through bundled plans, enhancing value.
Hulu + Live TV had around 4.6 million subscribers by the end of 2024, making it the largest U.S. live TV streaming service by subscriber count.
Hulu Originals
Hulu Originals is Hulu’s in-house content production arm. It produces exclusive shows and documentaries available only to Hulu subscribers.
Notable Hulu Originals include:
- The Handmaid’s Tale – Emmy and Golden Globe award-winning dystopian drama.
- Castle Rock – Psychological thriller based on Stephen King’s universe.
- The Dropout – A dramatization of the Elizabeth Holmes Theranos scandal.
- Dopesick – A critical look at America’s opioid crisis.
- The Bear – A restaurant drama praised for writing and performance.
Hulu continues to invest heavily in original content to compete with Netflix, Amazon, and other streaming giants.
FX on Hulu
Launched in 2020, FX on Hulu is a branded hub that brings premium content from FX Networks exclusively to Hulu.
This includes both legacy FX series and exclusive originals like Dev’s, Mrs. America, and The Old Man. FX on Hulu allows Hulu subscribers to access FX’s acclaimed programming without a traditional cable subscription.
It serves as a key differentiator for Hulu, known for high-quality, adult-oriented storytelling. The collaboration also leverages Disney’s ownership of both Hulu and FX Networks.
Hulu Ad Manager
Hulu Ad Manager is a self-service advertising platform launched in 2020. It allows small and mid-sized businesses to run targeted video ads on Hulu’s ad-supported service.
This platform democratized streaming advertising, which was previously accessible mostly to large corporations. Hulu’s ad tech supports audience segmentation, behavioral targeting, and performance metrics.
With streaming ad revenue growing rapidly, Hulu Ad Manager has become an important tool in Disney’s digital advertising strategy.
Bundled Services (Disney+, ESPN+)
Though technically not owned by Hulu, Disney+, ESPN+, and Hulu are often sold together in bundled subscription plans.
This bundling strategy is designed by Disney to boost user retention and reduce churn. It allows consumers to get:
- Hulu (on-demand)
- Disney+ (family and blockbuster content)
- ESPN+ (sports streaming)
The bundle is offered at a discounted rate and is a major part of Disney’s direct-to-consumer growth strategy. Hulu’s brand is central to this ecosystem, especially among adult viewers seeking a mix of mainstream and edgy content.
Conclusion
So, who owns Hulu? The answer is The Walt Disney Company. While Comcast still holds a minority share, Disney has full operational control. Over the years, Hulu has grown from a collaborative streaming startup to a powerhouse in the digital content space. It continues to be a central part of Disney’s streaming strategy, with growing original content and a strong live TV offering.
FAQs
Who owns Hulu right now?
The Walt Disney Company owns and operates Hulu. Comcast still has a minority stake but does not control the platform.
When did Disney take control of Hulu?
Disney took control of Hulu in May 2019 after acquiring 21st Century Fox and reaching an agreement with Comcast.
Is Hulu part of Disney+?
Hulu is separate from Disney+, but both are part of Disney’s streaming division. Users can subscribe to both in a bundle with ESPN+.
Does Comcast still own part of Hulu?
Yes, Comcast retains a 33% financial stake in Hulu but has no control over operations. Disney is expected to buy out this stake by 2024 or 2025.
Will Disney fully own Hulu in the future?
Yes. Disney is in the process of finalizing the purchase of Comcast’s remaining stake in Hulu, which will make it the sole owner.
Is Hulu owned by Netflix?
No, Hulu is not owned by Netflix. Hulu is a separate streaming platform that is currently majority-owned and fully operated by The Walt Disney Company. Netflix is an independent, publicly traded company and one of Hulu’s main competitors. There has never been any ownership link between the two platforms.
Is Hulu part of Disney+?
Hulu is not part of Disney+ directly, but both services are owned by Disney and are often offered together in subscription bundles. While Hulu operates as a standalone platform with its own app and brand identity, Disney+ and Hulu can be subscribed to jointly along with ESPN+ in a Disney Bundle. This strategy is designed to appeal to different audience segments across family content, general entertainment, and sports.
Who has more users, Netflix or Hulu?
Netflix has significantly more users than Hulu. As of 2025:
- Netflix has over 260 million global subscribers.
- Hulu has around 48 million U.S. subscribers, since it only operates in the United States.
Netflix’s international reach and vast content library contribute to its dominant position in the global streaming market, while Hulu remains focused on the U.S. market with a strong emphasis on current TV, originals, and live streaming options.