Who Owns Hulu?

Key Takeaways

• Who Owns Hulu? The Walt Disney Company owns Hulu.
• Disney has owned 100% of Hulu since June 27, 2025.
• Comcast’s NBCUniversal previously owned 33% of Hulu.
• Disney paid Comcast approximately $8.6 billion in 2023.
• Disney paid an additional $438.7 million after the final appraisal.
• Comcast is no longer a Hulu owner.
• Hulu is a wholly owned Disney business.
• Fubo did not acquire Hulu.
• Certain Hulu + Live TV assets were combined with Fubo in October 2025.
• Disney, through Hulu, holds a 70% interest in the combined Fubo operations.
• Hulu remains a major part of Disney’s streaming strategy.
• Disney began using Hulu as its global general entertainment brand on Disney+ internationally in October 2025.
• Disney reported approximately 64 million paid Hulu subscribers as of September 27, 2025.

If you have searched Who Owns Hulu, you may have found several different answers. That is understandable because Hulu’s ownership has changed considerably since the service launched.

Hulu began as a joint venture involving major media companies. Disney eventually became its controlling owner, while Comcast’s NBCUniversal kept a minority interest for several years. That arrangement finally ended in 2025.

Today, the answer is clear: The Walt Disney Company owns 100% of Hulu. Disney completed the purchase of NBCUniversal’s remaining 33% interest on June 27, 2025.

The story does not end there, however. Hulu has also become an important part of Disney’s wider streaming strategy. At the same time, Disney combined certain Hulu + Live TV assets with Fubo in October 2025, creating a separate corporate relationship that can easily cause confusion.

This article explains Who Owns Hulu, how the ownership changed, what Comcast’s role was, what happened to Hulu + Live TV, and how Hulu fits into Disney’s streaming business today.

Quick Answer:

Disney owns Hulu.

Disney completed its acquisition of NBCUniversal’s remaining 33% stake in Hulu on June 27, 2025. Before that transaction, Disney owned approximately 67% of Hulu while NBCUniversal, a Comcast company, owned the remaining 33%.

Disney had already controlled Hulu’s operations since 2019. Comcast’s ownership was therefore mainly an economic interest rather than operational control.

The final purchase ended the Disney-Comcast ownership structure and made Hulu a wholly owned Disney business.

Who Owns Hulu Today?

Hulu is owned by The Walt Disney Company through its corporate structure.

A 2025 SEC filing identifies Hulu, LLC as a wholly owned subsidiary of Disney. The filing also lists Hulu’s principal business office in Santa Monica, California.

That means Comcast is no longer a Hulu owner.

This distinction is important because many older pages still describe Hulu as a Disney-Comcast joint venture.

That was true historically. It is not Hulu’s current ownership structure.

When Did Hulu Start?

Hulu publicly launched in March 2008.

The idea behind Hulu developed during the mid-2000s, when major television companies were trying to respond to the rapid growth of online video. Instead of allowing viewers to rely on unauthorized websites, media companies began looking for a legitimate way to distribute television programming online.

Hulu’s own corporate history says the company was established as a joint venture between News Corporation and NBC Universal, with Providence Equity Partners and Disney later joining the ownership group.

The service initially became known for giving viewers access to television programming through the internet, including recent episodes and library content.

That was a significant shift at the time. Viewers no longer had to be in front of a television at a specific hour to watch every program they followed.

Who Originally Owned Hulu?

Hulu’s original ownership was much more complicated than today’s structure.

The service was backed by several major media businesses, including NBCUniversal, News Corporation and later Disney and Providence Equity Partners. Over time, ownership changed as companies bought, sold or consolidated their interests.

The important turning point came when Disney acquired most of 21st Century Fox in 2019.

That transaction gave Disney a much larger stake in Hulu. Around the same period, Disney and Comcast reached agreements that gave Disney operational control of Hulu while Comcast retained an economic interest.

By then, Hulu had moved from being a multi-company experiment into an important streaming business.

How Disney Took Control of Hulu

Disney’s path to full ownership happened gradually.

In 2019, Disney became Hulu’s controlling shareholder after acquiring much of 21st Century Fox. Comcast retained approximately 33% of Hulu.

The arrangement gave Disney control over Hulu’s operations. Comcast, meanwhile, gave up its board seats and substantially all voting rights connected with its investment. Comcast’s own SEC filing confirms that Disney assumed full operational control under the 2019 agreements.

So, for several years, there was a difference between who controlled Hulu and who economically owned part of Hulu.

Disney controlled the business.

Comcast still owned a minority economic interest.

That distinction remained in place until 2025.

Why Did Comcast Sell Its Hulu Stake?

The answer goes back to the agreement between Disney and Comcast.

In November 2023, NBCUniversal exercised its contractual right to require Disney to purchase its 33% Hulu interest. The purchase price was tied to Hulu’s fair value, subject to a guaranteed minimum equity value of $27.5 billion.

Disney paid Comcast approximately $8.6 billion in December 2023 as an initial payment.

However, the transaction was not completely settled at that point.

The companies still had to complete an appraisal process to determine Hulu’s final equity value.

That process eventually produced an additional payment.

How Much Did Disney Pay for Hulu?

Disney initially paid Comcast about $8.6 billion in December 2023.

After the final appraisal, Disney paid an additional $438.7 million in 2025. Disney’s SEC filing says the additional payment represented NBCUniversal’s share of Hulu’s equity fair value above the guaranteed floor.

Disney’s 2025 financial reporting describes the additional payment as approximately $0.4 billion and confirms that it resulted in Disney obtaining 100% ownership of Hulu.

Comcast’s own filing also confirms that it received total cash proceeds of approximately $9.6 billion for its 33% interest, including the earlier advance and the final payment.

Hulu Purchase Timeline

The June 2025 transaction is the key date for anyone researching Who Owns Hulu today.

What Was Hulu Like Before Disney Took Full Ownership?

Hulu developed its identity around television.

While Netflix increasingly became associated with large-scale streaming libraries and original films and series, Hulu built a strong position around current and recent television programming.

The service also developed original programming.

One of its biggest early successes was The Handmaid’s Tale, which helped establish Hulu as a serious producer of original television rather than simply a place to watch licensed programs.

Hulu also became known for content connected with major U.S. television networks and Disney-owned entertainment brands.

Over the years, its library and business model changed as licensing agreements, ownership arrangements and the streaming market evolved.

When Did Hulu Stop Being Free?

One detail from older descriptions of Hulu needs updating.

Hulu originally offered a free, advertising-supported service. The company later introduced paid subscriptions, including Hulu Plus in 2010.

However, Hulu eventually ended its free programming option. By 2016, the company had moved away from the original free-plus-paid model and focused on subscription services.

That history is useful because it shows how Hulu’s business changed as streaming became more competitive.

The company was no longer simply an online extension of traditional television.

It had become a subscription streaming service competing for customers against Netflix, Amazon and eventually Disney’s own Disney+.

When Did Hulu Add Live TV?

Hulu expanded beyond on-demand streaming in 2017, when it launched its live television service.

Hulu + Live TV was designed to combine traditional television channels with Hulu’s on-demand library.

This made the service different from a conventional video-on-demand platform.

Customers could access live programming while also using Hulu’s on-demand catalog.

Hulu’s current corporate description continues to identify Hulu as a U.S. premium on-demand and live streaming service, with Hulu + Live TV providing access to live news, entertainment and sports channels.

Does Disney Still Own Hulu + Live TV?

This is where the answer requires more explanation.

Disney owns Hulu.

However, Disney combined certain Hulu + Live TV assets with Fubo in a transaction that closed on October 29, 2025.

The transaction did not mean that Fubo purchased Hulu.

Instead, Hulu contributed its Hulu Live Business to the combined company.

Following the transaction, Hulu holds a 70% economic interest in the combined operations and a 70% voting interest in Fubo, while Fubo’s public shareholders retain the remaining 30% economic interest.

Disney therefore remains Hulu’s owner.

At the same time, Disney has a majority interest in the combined Fubo business through its ownership of Hulu.

Did Fubo Buy Hulu?

No.

This is one of the most important corrections to make when explaining Hulu’s current corporate structure.

Fubo and Hulu combined certain live-TV businesses, but Hulu itself was not sold to Fubo.

The SEC documents specifically describe the transaction as the combination of Fubo’s business with Disney’s Hulu + Live TV business.

Disney’s own filings also explain that certain Hulu Live TV assets were contributed to the combined business while Hulu Live TV continued to be available as a separate consumer offering.

So the simplest way to understand it is:

Disney owns Hulu, while Disney’s Hulu business has a majority interest in the combined company created with Fubo.

Who Owns Fubo After the Hulu + Live TV Deal?

The ownership structure of Fubo is different from Hulu’s.

Following the October 2025 transaction, Disney, through Hulu, holds a 70% voting and economic interest in the combined Fubo operations, while Fubo’s public shareholders hold the remaining 30% interest. Disney also has the right to appoint a majority of Fubo’s board.

This creates an interesting connection between the two businesses.

Disney owns Hulu outright.

Through Hulu, Disney also controls a majority interest in Fubo.

But that does not make Hulu and Fubo the same company.

Their consumer offerings continue to operate separately.

How Many Hulu Subscribers Does It Have?

Subscriber figures should be handled carefully because Hulu’s reporting structure has changed.

Disney reported approximately 64 million paid Hulu subscribers as of September 27, 2025, based on internal management reports.

That figure is more useful for a current article than older claims of 48 million or 53 million subscribers.

Those numbers may have been accurate at particular points in Hulu’s history, but they should not be presented as the current figure.

This is one reason articles about streaming companies need regular updates.

Subscriber counts, product structures and reporting definitions can change from year to year.

Is Hulu Still a Separate Company?

Yes.

Hulu remains a distinct business entity within Disney.

A 2025 SEC filing identifies Hulu, LLC as a wholly owned subsidiary of Disney.

At the same time, Disney is increasingly integrating Hulu into Disney+.

Those two facts can exist together.

Hulu can remain a separate Disney-owned entity while its content, branding and technology become more closely connected with Disney+.

Does Disney+ Own Hulu?

It is more accurate to say Disney owns both Hulu and Disney+.

Disney+ is a Disney streaming service.

Hulu is a Disney-owned streaming business.

They are being integrated more closely, but Hulu did not become a property owned by the Disney+ service itself.

In 2025, Disney announced that Hulu would become its global general entertainment brand on Disney+ in international markets, replacing the Star brand.

That was a major step in Disney’s international streaming strategy.

Is Hulu Available Outside the United States?

The answer has changed significantly.

Historically, Hulu was primarily a U.S. service. That is why older articles often describe Hulu as being available only in the United States.

Disney changed that strategy in 2025.

Beginning October 8, 2025, Hulu became Disney’s global general entertainment brand on Disney+ in international markets, replacing Star.

This does not mean that the U.S. Hulu service suddenly became identical worldwide.

Instead, Disney began using the Hulu brand internationally within Disney+.

That distinction is important when writing about Hulu’s global reach.

Why Is Disney Integrating Hulu With Disney+?

The strategy is relatively straightforward.

Disney operates several major entertainment brands, and bringing more of them together can make the streaming experience simpler for subscribers.

Disney announced plans for a more unified app experience that brings Disney and Hulu entertainment together.

The company said the goal is to offer subscribers more convenience while also improving engagement, reducing churn and creating additional advertising opportunities.

In other words, Hulu is no longer being treated simply as a separate streaming experiment.

It has become an important part of Disney’s broader direct-to-consumer strategy.

What Does Hulu Offer Today?

Hulu’s current offering is centered on general entertainment.

According to Hulu’s corporate information, the service offers content from major U.S. broadcast networks along with programming from Disney-owned brands and other content partners. Its lineup includes television series, films and Hulu Originals.

Hulu also supports different subscription arrangements, including ad-supported and advertising-free options.

Premium add-ons are available as well, depending on the plan and market.

Hulu + Live TV adds live television programming to the streaming experience.

That combination has helped Hulu maintain a different position from services that focus primarily on on-demand entertainment.

Hulu’s Most Important Original Success

Among Hulu’s original programs, The Handmaid’s Tale remains one of the most significant in the service’s history.

The series helped Hulu gain wider recognition in the television industry and became closely associated with the company’s original programming strategy.

Hulu later expanded its original lineup with a variety of dramas, comedies, documentaries and other programming.

The success of these shows mattered for a simple reason.

Hulu needed more than licensed television episodes to compete in a streaming market increasingly dominated by companies investing heavily in exclusive content.

How Hulu Changed Television

Hulu arrived at a time when television was beginning to move away from the traditional schedule.

Instead of waiting for a program to air at a fixed time, viewers could watch online when it suited them.

That change helped normalize on-demand viewing.

Streaming also made it easier for viewers to watch several episodes close together, contributing to the wider popularity of binge-watching.

Hulu was not alone in creating that change. Netflix, Amazon and many other platforms also played major roles.

Still, Hulu became an important part of the transition because of its strong connection with television networks and current programming.

Hulu vs Netflix vs Disney+

Hulu, Netflix and Disney+ compete for streaming audiences, but their identities are different.

Hulu’s strongest identity has traditionally been its connection with U.S. television and general entertainment.

Disney+, meanwhile, is built around Disney’s major entertainment franchises and a growing general entertainment offering.

Netflix operates independently and has built a broad global streaming business.

What Happened to Hulu’s Original Free Model?

Hulu’s original free model is now part of its history.

When Hulu launched, free ad-supported access was an important part of the service.

The company later shifted toward subscription streaming and ultimately eliminated its free programming option.

Today, Hulu’s business is based around paid subscription offerings, including plans with advertising and plans without advertising.

This is another reason why older descriptions of Hulu can be misleading if they are presented as current information.

Why Hulu’s Ownership History Is So Complicated

Hulu’s corporate history reflects the larger transformation of the entertainment industry.

At launch, several traditional media companies were trying to build a legitimate online destination for television.

Then came acquisitions.

Disney acquired major Fox assets, which increased its Hulu ownership.

Comcast remained involved as a minority owner.

Disney took operational control.

Comcast eventually exercised its right to sell its remaining interest.

Finally, Disney completed the acquisition in 2025.

That sequence explains why you can find several different answers to Who Owns Hulu depending on when a source was written.

Common Mistakes About Hulu Ownership

Saying Comcast Still Owns 33% of Hulu

This is outdated.

Comcast sold its remaining 33% interest to Disney in June 2025.

Saying Hulu Is Still a Disney-Comcast Joint Venture

That was historically true, but it is no longer the current ownership structure.

Disney now owns Hulu outright.

Saying Fubo Bought Hulu

This is incorrect.

Fubo combined its business with certain Hulu + Live TV assets. Hulu itself remains owned by Disney.

Using Old Subscriber Numbers as Current Data

Older sources may report 48 million, 53 million or other subscriber totals.

Disney reported approximately 64 million paid Hulu subscribers as of September 27, 2025.

For a current article, the date attached to any subscriber figure matters.

Saying Hulu Is Still Only a U.S. Brand

That also needs context.

Disney began using Hulu as its global general entertainment brand on Disney+ in international markets in October 2025.

Conclusion

So, Who Owns Hulu? As of 2026, the answer is The Walt Disney Company.

Hulu’s ownership journey started with several major media companies working together to create a legitimate online destination for television. Over time, Disney became the controlling owner, while Comcast retained a minority interest.

That changed completely in June 2025.

Disney completed the purchase of NBCUniversal’s remaining 33% interest, making Hulu a wholly owned Disney business. The final transaction followed an appraisal process and an additional payment of $438.7 million to Comcast.

The later Fubo transaction adds another layer to the story, but it does not change the basic answer. Hulu itself remains Disney-owned. Certain Hulu + Live TV assets were combined with Fubo, and Disney now holds a majority interest in the resulting operations.

At the same time, Disney is bringing Hulu closer to Disney+. Internationally, Hulu has become Disney’s global general entertainment brand on Disney+, while the company continues developing a more unified streaming experience.

For readers trying to understand the current corporate picture, the simplest conclusion is also the most accurate:

Hulu is owned by Disney, Comcast no longer owns a stake in Hulu, and Fubo’s relationship is primarily connected to Hulu’s Live TV business rather than ownership of Hulu itself.

Frequently Asked Questions

Who Owns Hulu?

The Walt Disney Company owns 100% of Hulu.

Disney completed the purchase of Comcast’s remaining 33% stake on June 27, 2025.

Does Comcast own Hulu anymore?

No.

Comcast’s NBCUniversal sold its remaining Hulu interest to Disney in June 2025.

How much did Disney pay for Hulu?

Disney paid approximately $8.6 billion to NBCUniversal in December 2023 and an additional $438.7 million after the final appraisal process.

Did Disney always own Hulu?

No.

Hulu began as a joint venture involving several media companies. Disney eventually became the controlling owner before acquiring Comcast’s remaining stake in 2025.

When did Disney get full ownership of Hulu?

Disney completed the acquisition of NBCUniversal’s 33% interest on June 27, 2025.

Does Fubo own Hulu?

No.

Fubo does not own Hulu. Certain Hulu + Live TV assets were combined with Fubo in October 2025.

Does Disney own Fubo?

Disney, through Hulu, holds a 70% voting and economic interest in the combined Fubo operations created through the October 2025 transaction.

Is Hulu still a separate streaming service?

Yes.

Hulu remains a Disney-owned streaming service, although Disney is integrating Hulu more closely with Disney+.

Is Hulu available internationally?

The Hulu brand became Disney’s global general entertainment brand on Disney+ in international markets beginning October 8, 2025.

How many Hulu subscribers does Disney have?

Disney reported approximately 64 million paid Hulu subscribers as of September 27, 2025.