In 2026, Hulu will no longer be its own streaming platform, officially putting an end to phase one of the streaming wars. Netflix has long led the pack in the world of streaming, but Hulu almost immediately put up a significant fight. These two platforms were the original competitors in the streaming wars, and over the years, their respective strategies have helped shape the modern entertainment landscape.
Now, the end of Hulu marks the start of a new era. Netflix faced some struggles in recent years, but it’s generally agreed that the company emerged victorious from the original streaming wars. Phase two of this battle for success will see Netflix challenged by Disney+ (which will now exclusively stream Hulu content on its platform), Apple TV+, Paramount+, and a handful of others.
Only the coming years can determine whether Netflix can maintain its top spot. Its competitors can learn from Hulu’s mistakes and enter the ring all the stronger for it. Of course, Netflix itself has had its share of setbacks over the years, which have come with their own valuable lessons. The best bet for all these streaming services?—to look back at the OG streaming wars and reflect.
Hulu & Netflix Were Major Rivals During The Early Days Of Streaming
Netflix was the first major arrival to the streaming game, introducing its platform in 2007 after years of operating as a DVD rental service. The website had a fair offering of movies and TV shows, but these were all older. At this point in time, DVD purchasing, physical rentals, network TV, and theaters were still the only ways to consume new content. That’s where Hulu came in.
Hulu launched in 2008, and initially, it presented a very different product from Netflix. While the platform offered a handful of movies, its primary focus was next-day streaming of network TV episodes. This was a game-changer. For the first time, viewers no longer had to rely on cable TV to stay up-to-date with their favorite shows.
Though Hulu’s launch made it a Netflix competitor, the streaming wars didn’t begin in earnest until both platforms started producing original content. Netflix debuted House of Cards in 2013, and Hulu’s first original series, Difficult People, began streaming in 2015. By 2019, these platforms were really duking it out, and the COVID-19 pandemic only turned up the heat.
After 2019, the number of subscribers to both Netflix and Hulu jumped significantly. This emboldened Netflix to increase its budget for some of its most popular projects, but the return on this investment did not meet the company’s expectations. Meanwhile, although Hulu was nowhere near Netflix’s number of subscribers, its significantly less expensive shows and movies were doing exceptionally well.
In 2022, Netflix lost a significant chunk of its subscribers by the end of its second quarter. The company’s stock price dropped by about 50%, while Hulu’s numbers continued to trend upward. Netflix had climbed far higher, but that would only mean a longer fall. This could have been Hulu’s chance to win the streaming wars, but Netflix recovered with a change in strategy, while Hulu got lost in ownership politics.
Netflix cracked down on account sharing in 2023, resulting in a massive recovery.
Hulu’s Planned Shutdown Is The End Of An Era For Streaming Wars
Hulu isn’t shutting down because of any specific failure. All the old original series will continue, and the name of “Hulu” isn’t going anywhere. It will no longer be its own platform and will instead be fully merged with Disney+ (rather than the current hybrid situation). Regardless, this is a clear indication that Netflix outpaced Hulu in the original streaming wars.
Disney has owned a sizeable share of Hulu for years, but it only recently became the sole owner (after buying out Comcast). Had Hulu continued to be a strong competitor against Netflix, then the House of Mouse might have chosen to keep Hulu’s content on its own platform. However, with Netflix so far ahead, this merger is the best way to make Disney+ a stronger competitor in a new era of streaming wars.
Why Hulu & Netflix Had Very Different Fates
Netflix has had a massive advantage over every other streaming service since 2007 because it caters to such a broad audience. It had its struggles, especially in 2022, but the platform maintained its hold on viewers from every age and demographic. It’s for precisely this reason that companies like Disney have begun bundling, adding Hulu and ESPN to their homepage—it’s all about variety.
From its inception to its upcoming conclusion, Hulu’s strategy has been centered on adult television. It has been highly effective for what it is, but it’s evident when comparing its subscribers to those of Netflix that it cannot compete in quite the same way.
What Hulu’s Merger With Disney+ Means For The Future Of The Streaming Wars
Although the original streaming wars are coming to an end, this doesn’t mean that every company aside from Netflix is retreating, tail between its legs. Disney+, Prime Video, and the other giants are all bundling, and the way success is measured has begun to shift. It’s no longer about the number of subscribers a platform has, but rather how long viewers spend using it.
Disney+ recently announced that it would no longer disclose its subscriber numbers, as this metric is no longer used to measure success. Instead, viewership time is the golden standard. Interestingly, YouTube is winning the new streaming wars, since it accounts for just over 12% of all TV viewing time in the US. Netflix comes in second place, taking up 7% of viewing time (via The New York Times).
Hulu won’t be counted out entirely. The amount of time people spend watching Hulu’s originals will contribute to Disney+’s success (currently 5% of all TV viewing time). It’s difficult to say how long it will be before the rules change again. All we know for sure is that the last decade of battles has finally come to a close.