NBC Universal has announced the addition of a groundbreaking new streaming product called Hulu. Hulu is a free and legal platform that can be used to watch television online. The visual quality of the product is top-notch, and user-friendly. Investors believe Hulu has the potential to become the future of television and movie consumption for an ever-changing marketplace.
After undergoing extensive development with an estimated cost of $15 million, Hulu officially launched earlier this year. The idea was born back in 2006 when movie and television execs began to wonder if the internet would do the same thing to video that Napster did to music. From that speculation, a partnership was formed.
After the website Youtube was purchased for more than $1 billion, Fox and NBC bosses agreed that the TV industry could exist online. The television suits began outlining a plan to expose their content to a new, wider audience. What Hulu offers is simplicity. Subscribers to the site can easily choose what they want to watch when they want to watch it. Hit titles such as The Simpsons, Desperate Housewives, The Office, and Friends are currently streaming on Hulu.
The key for the streaming device is to mirror television’s model of success. Hulu is simple, just like television, which lets users explore channels and make their own decisions. Hulu will also try to mimic advertising methods used in the TV industry. As of right now, the site features substantially less ads than television, but that will likely change if Hulu’s popularity rises.
To make sure its content was available only through cable providers and Hulu, NBC decided to remove many of its programs from the iTunes store. If Hulu continues to reel in subscribers, the sky could be the limit for this new venture. Hulu may look to become a one-stop shopping source for consumers seeking content and social interaction online.
If the cable market ever falters, streaming services like Hulu may rise to supremacy. In today’s world of instant gratification, Hulu may be exactly what the marketplace desires. It’s now up to the folks at NBC Universal to continuously cater to a society that craves on-demand entertainment.