Hulu SWOT Analysis 2024 : Best Report With Infographics

Hulu has become one of the major players in the streaming platforms besides Netflix and Amazon Prime, with tons of original content and seamless service. We will learn all about Hulu in this Hulu swot analysis.

Hulu: Company Overview

In 2007, Hulu started its journey to provide an extensive library of TV shows, movies, and original content, including a live TV option. The company is still doing the same but has grown with only 2,350 employees and earned $10.7B in revenue in 2022.

Product & Services of Hulu
Live Streaming Service

Hulu Competitors
Netflix | Disney+ | Max | Prime Video | Starz | ESPN Plus | Peacock | Paramount+ | Apply TV+

Did You Know?

The name “Hulu” was inspired by a Chinese proverb that means “interactive recording” or “gourd,” symbolizing an object that holds precious things inside.

Strengths – Hulu SWOT Analysis

Extensive Portfolio: An extensive content library with a wide range of TV shows, movies, and original content is everything a streaming platform needs. It offers many popular series like “The Handmaid’s Tale” and “Castle Rock,” which have garnered critical acclaim and attracted a dedicated fan base.

Growing Subscribers: The platform has experienced consistent growth in its subscriber numbers, indicative of its appeal to viewers. As per the latest data, Hulu had over 106.1M paid subscribers, showcasing its ability to attract and retain a substantial user base.

Strong Finance: From the financial perspective, Hulu has the backing of major media companies, including Disney, Comcast, and WarnerMedia, ensuring financial stability and substantial resources for content acquisition and production. The company reported generating $10.7B in revenue in 2022, reflecting its strong financial performance.

Weaknesses – Hulu SWOT Analysis

Low Availability: Limited geographical availability restricts Hulu’s potential customer base. While Hulu expanded globally, its primary market remains the USA. The narrow reach limits its ability to tap into the global streaming market, missing out on potential subscribers and revenue from international markets where streaming services are in high demand.

Poor ROI: As the demand for premium content escalates, Hulu faces increased content acquisition and production costs. Balancing these costs with subscription revenues can strain profitability and hinder the achievement of a satisfactory ROI. Even though the company is earning a large amount, the net income and overall ROI are still low.

Opportunities – Hulu SWOT Analysis

Global Expansion: As there are geographic restrictions, Hulu has the opportunity to expand its international presence, tapping into new markets and increasing its subscriber base. It is time they stop solely on the USA base, expand to other countries, and increase availability.

Original Production: People nowadays search for more and more original content, and By investing in original content production, Hulu can attract and retain viewers, differentiating itself from competitors. Notable examples include “The Handmaid’s Tale,” which garnered critical acclaim and multiple awards, and “Ramy,” a comedy series that resonated with diverse audiences.

Strategic Partnerships & Acquisitions: Collaborating with content creators, studios, or other streaming platforms can provide Hulu exclusive access to popular shows and movies. A strategic partnership with a renowned production house like A24 could result in exclusive distribution rights to highly anticipated films, enhancing Hulu’s content offerings and attracting new subscribers.

Threats – Hulu SWOT Analysis

Cutthroat Competition: Even though most streaming platforms rose because of strategic pricing and availability, Hulu has not been picking up the pace even as one of the recognized platforms. As per the data, Netflix and Amazon Prime had over 230.7M and 157.4M subscribers worldwide in 2022, while Hulu had only 106.1M.

Rising Cost: Acquiring and producing quality content is becoming increasingly expensive. As competition intensifies, content prices soar. One of the biggest competitors, Netflix, spent $16.7B on content in 2022, a threat to Hulu’s profitability and may necessitate price increases for subscribers.

Content Piracy: Piracy and illegal streaming remain persistent threats to the streaming industry. According to the data, in 2022, there were over 215B visits to piracy websites globally. Content piracy diverts potential subscribers and revenue from legitimate streaming services like Hulu, impacting profitability and market share.

[Bonus Infographic] SWOT Analysis of Hulu

Recommendations for Hulu

Hulu needs to change the entire strategy to survive in the game structurally. Here are some recommendations for them.

• Expanding Hulu’s availability to more international markets can unlock new growth opportunities.
• Implement robust anti-piracy measures to protect Hulu’s content and revenue.
• Form partnerships and collaborations with content creators, studios, or other streaming services to secure exclusive rights.
• Hulu should continue to invest in acquiring a diverse range of high-quality content, including popular TV shows, movies, and exclusive originals.

Frequently Asked Questions (FAQs)

Final Words on Hulu SWOT Analysis

Hulu operates in a highly competitive streaming market, facing cutthroat competition, rising content costs, and piracy. To thrive, Hulu must focus on diversifying its content library, enhancing the user experience, expanding internationally, combating piracy, and forming strategic partnerships to stay relevant and attract and retain subscribers.

References

• Wikipedia contributors. (n.d.). Hulu. Wikipedia.
• Curry, D. (2023, May 24). Hulu Revenue and Usage Statistics (2023). Business of Apps.
• Hulu Has Acquired the U.S. Rights to the A24 Film, “False Positive,” Starring Ilana Glazer. (2020, December 14). Laughing Place.