Disney owns Hulu outright as of 2019, after buying out the remaining stake from Comcast
Disney did not buy Hulu in a single transaction. Instead, Disney gradually acquired full ownership over more than a decade. The company first took a minority stake in 2009, then increased its ownership in stages. In 2019, Disney completed its purchase by buying Comcast's remaining 33 percent stake for $16.7 billion, giving Disney 100 percent control of the streaming service.
Before that final purchase, Hulu was jointly owned by Disney, Comcast (through NBCUniversal), Fox, and Warner Media. Each owner had a say in how the service operated and what content it carried. That shared ownership sometimes created tension because the owners competed with each other in other parts of the entertainment business. Once Disney owned it entirely, the company could make decisions about Hulu's direction without negotiating with rivals.
Key Takeaways
- Disney acquired full ownership of Hulu in 2019 when it bought Comcast's remaining 33 percent stake for $16.7 billion.
- Before 2019, Hulu was owned by multiple competing companies including Disney, Comcast, Fox, and Warner Media, which sometimes conflicted over content decisions.
- Disney had been gradually increasing its stake in Hulu since 2009, but did not control the service until the 2019 purchase was complete.
- After taking full control, Disney integrated Hulu more closely with Disney Plus and other Disney streaming services under a single bundle option.
Why Disney wanted to own Hulu completely
Hulu was valuable to Disney because it offered something Disney Plus did not: a large library of recent television shows and adult-oriented content. Disney Plus launched in 2019 with family-friendly material, while Hulu carried current episodes of shows like The Handmaid's Tale and Only Murders in the Building. By owning both services, Disney could offer subscribers different tiers and bundle options depending on what they wanted to watch.
Shared ownership also slowed down decision-making. When Disney wanted to move content between services or change Hulu's strategy, it had to negotiate with Comcast, Fox, and Warner Media. Each owner had different business interests. Comcast, for example, also ran cable television and wanted to protect that business. Once Disney owned Hulu outright, the company could move faster and align Hulu's strategy with its other streaming services.
How Disney structured the purchase
The acquisition happened in stages because of how Hulu's ownership was divided. In 2009, Disney bought a 27 percent stake when Hulu was still relatively new. Over the next decade, Disney negotiated to increase its share. In 2016, Disney raised its stake to 60 percent. By 2018, Disney had grown its ownership to 67 percent.
The final step came in May 2019, when Disney announced it would buy Comcast's 33 percent stake. Comcast had owned that portion through NBCUniversal, its media division. The deal closed in December 2019. At that point, Disney owned 100 percent of Hulu and could operate it as a wholly owned subsidiary without input from other companies.
What changed after Disney took full control
Once Disney owned Hulu entirely, the company began bundling it with Disney Plus and ESPN Plus. Subscribers could now pay for all three services together at a discount, or subscribe to them separately. This bundle strategy reflected Disney's broader shift toward streaming—the company wanted to offer customers multiple services under one account rather than competing with itself.
Disney also began moving some content between services. Shows that had aired on Hulu sometimes moved to Disney Plus, depending on their rating and target audience. Original series produced for Hulu continued, but Disney could now decide which shows belonged on which platform without negotiating with other owners. The company also invested more heavily in Hulu's original content because it no longer had to share the revenue with other stakeholders.
How Hulu differs from Disney Plus
Hulu and Disney Plus serve different purposes within Disney's streaming portfolio. Disney Plus focuses on family-friendly content, including Marvel, Star Wars, Pixar, and classic Disney films. Hulu carries a broader range of television programming, including current-season shows, older series, and adult-oriented originals. Many shows on Hulu air the day after they broadcast on traditional television, making Hulu the place to watch recent episodes.
The two services also have different subscription tiers. Disney Plus offers a basic plan and a premium plan with no ads. Hulu offers an ad-supported plan and an ad-free plan. Some subscribers choose to pay for both services separately, while others use the bundle that includes both Disney Plus and Hulu (with or without ads) plus ESPN Plus. The bundle is usually cheaper than paying for each service individually.
The role of Fox content in Hulu
When Disney bought most of Fox's entertainment assets in 2019—the same year it completed the Hulu purchase—it gained control of Fox's stake in Hulu as well. This gave Disney even more leverage over the content on the platform. Fox had owned about 5 percent of Hulu before the deal. After Disney acquired Fox's assets, Disney's ownership became even more consolidated.
This consolidation meant Disney could now control content from its own studios, Marvel, Lucasfilm, Pixar, ABC, and the Fox broadcast network all within the same streaming ecosystem. The company could decide which shows aired on Hulu, which moved to Disney Plus, and which were exclusive to one service or the other. This level of control was not possible when Hulu was owned by multiple competing companies.
What this means for Hulu subscribers today
For people watching Hulu now, Disney's full ownership means the service is integrated into Disney's larger streaming strategy. If you subscribe to Hulu, you are using a service owned and operated entirely by Disney, not a joint venture. This affects what content appears on the platform, how much it costs, and what bundle options are available.
Disney has continued to invest in Hulu's original programming and library. The service remains the primary place to watch recent television episodes and adult-oriented content within Disney's streaming portfolio. However, Disney's ownership also means the company can shift content between services or cancel shows based on Disney's overall business strategy, not the preferences of other owners.
Frequently Asked Questions
Did Disney buy Hulu all at once or gradually?
Disney bought Hulu gradually over ten years. The company first invested in 2009, increased its stake multiple times, and completed full ownership in December 2019 when it purchased Comcast's remaining 33 percent stake for $16.7 billion.
Who owned Hulu before Disney bought it completely?
Hulu was jointly owned by Disney, Comcast (through NBCUniversal), Fox, and Warner Media. Each company owned a different percentage and had a say in how the service operated. This shared ownership sometimes created conflicts because the companies competed in other areas of entertainment.
Can I watch the same shows on Hulu and Disney Plus?
Some content appears on both services, but most shows are exclusive to one or the other. Disney Plus focuses on family content and franchises like Marvel and Star Wars. Hulu carries recent television episodes, older series, and adult-oriented originals. Disney decides which platform each show belongs on.
Is it cheaper to buy Hulu and Disney Plus together or separately?
The bundle that includes Disney Plus, Hulu, and ESPN Plus costs less than buying each service separately. However, the exact savings depend on which subscription tier you choose—ad-supported or ad-free—and current pricing in your area.
Why did Disney want to own Hulu completely instead of sharing ownership?
Full ownership let Disney make faster decisions about content, pricing, and strategy without negotiating with other companies that had competing interests. Disney could also integrate Hulu more closely with Disney Plus and other services, and keep all the revenue from subscriptions instead of sharing it.