Sorry, Big Cable. You had a good thing going throughout the last quarter of the 20th century but like all technologies and media, your time has tome. More and more households have discovered that there’s a better way to watch TV and movies than paying for scores of channels they’ll never watch. Let’s not even get started with the cost thing, either. In what should surely frighten some telecom shareholders, Hulu has finally added enough subscribers to now outnumber Comcast, the largest cable company in the US. Is cable dead?
Not quite yet, but it’s certainly on its last legs. While streaming-only households are increasing, hundreds of millions of households still subscribe to traditional cable. Still, Hulu’s growth is promising for the streaming industry as a whole. Hulu now boasts more than 25 million subscribers, pushing it past Comcast’s 22 million and rivaling DIRECTV’s 25.3 million.
Hulu’s biggest competitor Netflix, meanwhile, boasted a whopping 137 million at the end of third quarter 2018. Still, Hulu continues to grow at an increasingly fast rate. In a press release issued this week, Hulu CEO Randy Freer says the company looks forward to becoming an increasingly popular choice for cable-cutting households. “In 2018, Hulu led the industry in attracting and engaging subscribers, building a powerful technology stack and cultivating a brand that both consumers and advertisers love. Looking ahead, Hulu is in the best position to be the #1 choice for TV – live and on-demand, with and without commercials, both in and out of the home.”
Hulu’s growth can be attributed to several factors. For one, the streaming service has exclusive streaming rights to many of the most popular shows on television like Family Guy, The Orville, and Atlanta in addition to several award-winning original series like The Handmaid’s Tale. On top of its on-demand library, Hulu with Live TV is becoming an increasingly popular choice for cable cutters. How long can Hulu’s growth continue?