Disney joins Hulu, Hulu gets ABC online video content

After months of speculation and rumor, Disney has joined Hulu as a joint venture partner, bringing full-length episodes of ABC content like Desperate Housewives, Lost and Private Practice to Hulu, as well as select Disney Channel programming and some full-length Disney films. The deal gives Disney a 30 percent share in the company, according to The Wall Street Journal. To get it, Disney likely committed the same amount of money or in-kind services, $50 million, as NBC Universal and News Corp. Disney gains three seats on the Hulu board of directors as a result of the investment.

"From our landmark iTunes deal to our pioneering decision to stream ad supported shows on our ABC.com player, Disney has sought to meet the constantly evolving viewing habits of our consumers, and today's Hulu announcement is the next important step in that ongoing journey," Robert A. Iger, president and CEO, of The Walt Disney Company, said in a prepared statement. "Disney and Hulu share a focus on delivering the highest-quality entertainment experience and we look forward to working with Hulu to build value for our consumers, our brands and our shareholders."

Hulu now has premium long-form content from every major broadcast network except for CBS, which is competing with Hulu through its TV.com site.

"Hulu, quite simply, now has the best premium content on the web," said Peter Chernin, president and COO, News Corporation. "With three major networks and over 150 leading content providers providing content, combined with the best video user interface anywhere on the web, Hulu offers consumers the finest premium online video experience available today."

It's a big win for Hulu and further proof that content owners are embracing online delivery of premium video content. 

For more:
- see the press release on Silicon Alley Insider here 

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