Hulu posts $920m losses for 2017

Hulu’s The Handmaid’s Tale, based on Margaret Atwood’s novel

US streaming service Hulu made losses of US$920m in 2017 as it increased its content spend to keep up with SVoD competitors.

The news comes after parent companies Disney, 21st Century Fox, Comcast and Time Warner invested US$1b in Hulu last year, according to a filing by Comcast. In 2016, the streamer posted losses of US$531m.

Hulu pledged in May to double its spend on content to keep up with the likes of Netflix and Amazon. Tech giant Apple has also accelerated its move into original programming.

The streamer achieved widespread critical acclaim last year with its original title The Handmaid’s Tale, which saw it become the first streaming service to win a Primetime Emmy.

It also recently unveiled a raft of originals as it attempts to keep pace in an increasingly competitive market, while last year saw the launch of Hulu’s live TV service.

Hulu is reported to have more than 17 million subscribers across its on-demand and live packages, and is currently only available in the US.