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Posted in: Disney+, Hulu, Movies, TV | Tagged: comcast, disney, disney plus, hulu
Hulu, Disney+ Combo App Gets December Beta Test; 2024 Launch Eyed
Disney CEO Bob Iger confirmed that a combined Disney+/Hulu app will get a beta test in December, ahead of a possible Spring 2024 launch.
Article Summary
- Disney CEO Bob Iger confirmed a December beta test for a combined Disney+/Hulu app, eyeing a Spring 2024 launch.
- Disney moves closer to sole ownership of Hulu, beginning the process to buy out of Comcast's 33% stake.
- Hulu's valuation process for Disney's buyout could range from $9B-$19B, though Disney submitted an expected payment value of $8.61B.
- The unified Disney+/Hulu app aims for increased engagement, stronger ad revenue, and more.
A week after Disney announced that it had begun the process to buy out Comcast's 33% ownership stake in Hulu – making The Mouse sole owner of the streaming service – Disney CEO Bob Iger announced during today's earnings call that an app that combines Hulu and Disney+ into a single experience will undergo a beta test run in December. "We remain on track to roll out a unified one-app experience domestically," Iger shared during the financial report, adding that the test launch in December would lead to an official launch in Spring 2024 – and hopefully, better engagement, stronger ad revenues, and overall lower churn.
"The acquisition of Comcast's stake in Hulu at fair market value will further Disney's streaming objectives," said Disney in a statement from earlier this month when they made their intentions to fully acquire Hulu known. So what happens now? Each side hires an investment bank to determine the value of the streamer as it currently stands. If the two values are within 10% of each other, then the average of the two becomes Hulu's price tag – that's what The Mouse pays. But if they're not, a third investment bank comes in to do its own assessment – with Hulu's final price tag ending up being the average of the third investment bank's value and the one original value that's closest to the third bank's value. Early estimates have The Mouse paying anywhere from $9B-$19B to secure full ownership of the streamer. – though in its pre-assessment process filing on Wednesday, Disney submitted that it expects to pay $8.61B by December 1st. "While the timing of the appraisal process is uncertain, we anticipate it should be completed during the 2024 calendar year," added The Mouse with regard to the expected time frame for the transaction to be completed. The timing for the beta testing of the combined app and its Spring 2024 launch coincides with that timetable.
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