Hulu’s losses are expected to jump this year, according to The Walt Disney Co., one of its owners.
During Disney’s earnings call Tuesday (Feb. 6), the company said it expected its share of Hulu’s losses would be $250 million more than last year. Just last quarter, Disney estimated the hit it would take from Hulu would grow by $100 million.
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Disney owns 30% of Hulu, which means Hulu’s losses will increase by more than $830 million.
Last year, 21stCentury Fox, which also owns 30% of Hulu, said it took a $62 million loss on the streaming outfit.
Disney has agreed to acquire Fox’s 30% stake in Hulu as part of the Fox assets it is buying. Comcast also owns 30%, and Time Warner owns 10%.
Disney CFO Christine McCarthy said the increased loss was largely related to content Hulu was licensing from its equity owners.
Read more at B&C.