Hulu has started the ball rolling in 2019 by quickly adding its subscribers up, as the streaming service announced reaching to a total customer base of 26.8 million for its paid subscription, a sign which indicates that company grew rapidly in first four months of the year.
The landmark achieved by the streaming company that is still a loss-maker came on the heels of price cuts and promotions as well as investments on more original programming to keep up the growth momentum it has been showing for some time.
Hulu, which is now majority-owned by Walt Disney Co with Comcast Corp as its co-owner, in a presentation to advertisers prior to entering a new programming season, said that it is launching two new TV series around the Helstrom and Ghost Rider, which are characters of Disney’s Marvel.
The new figures by the digital video service, based on Disney’s previously shared figures, implies that it has added about 4 million new paid subscribers in the period between Jan and April, whereas in comparison, for the whole 2018, there were 5.7 million paid subscriber that have been added by Hulu’s rival Netflix Inc in the United States.
Hulu disclosed at its 2019 Digital Content NewFronts pitch-fest on last Wednesday in New York that number of its monthly paid subscriber have now reached to 26.8 million while that of unpaid promotional account is 1.3 million, which means that Hulu’s paid subscribers increased by 16.5 percent year-to-date from 23 million at the end of last year.
Hulu is an important part of the direct-to-customer efforts of Mouse House, which is launching subscription video service Disney+ of its own in November.
Hulu is expected to making profits in fiscal year 2023 or 2024; and its subscriber base to be reaching as many as 60 million by 2024.