Friday, December 21, 2012
Hulu Seeking $200M For More Content, Says Report
Online video streaming site Hulu is asking its owners, Walt Disney Co., Comcast Corp., and News Corp., for about $200M to help fund program purchases, according to a report this morning from the Wall Street Journal. According to the report, the move comes as Hulu is looking to keep up with the big investments that competitors NetFlix and Amazon are making to obtain and create content for their own video streaming services. Apparently, Amazon is spending $500M to $1 billion per year on building Amazon Prime Instant Video, including its efforts to create its own studio here in Southern California--at least, based on estimates by Netflix CEO Reed Hastings.