Posted By Uma Rajagopal
Posted on November 22, 2024
(Reuters) – Fox Entertainment and Hulu announced on Thursday a multi-year content deal whereby the Walt Disney-controlled streaming platform will retain the streaming rights for Fox’s extensive programming slate.
The agreement includes an expansion of their platform marketing arrangement, reportedly valued at over $1.5 billion across four years, according to Deadline.
The new deal builds upon both firms’ partnership spanning more than two years, a period that saw a surge in consumer interest in streaming platforms, prompting traditional television companies to look for partners to house their shows and movies.
Under the terms of the new agreement, Fox’s prime-time entertainment programming — including “The Masked Singer”, “The Simpsons”, and “Family Guy” — will continue to stream on Hulu a day after the telecast.
“Our collective marketing efforts, which will continue with this new deal, have generated impressive results and helped viewers successfully find the shows they want to watch, when they want to watch them,” said Lauren Tempest, general manager at Hulu.
Disney’s efforts to raise prices and crack down on password sharing helped the House of Mickey report a second straight quarterly profit for its streaming business.
Fox is also enjoying strong growth with its own streaming business Tubi, an ad-based platform which the company expects to cross the $1 billion revenue mark in this fiscal year.
The deal also includes a renewal of an agreement that allows Hulu to stream out-of-season episodes of a number of Fox’s unscripted programs.
(Reporting by Zaheer Kachwala in Bengaluru; editing by Alan Barona)
