The transaction, which is subject to certain regulatory conditions, is expected to close in early spring, marking Nippon TV’s entry into the SVOD (Subscription Video On Demand) business.
“In addition to terrestrial broadcasting and BS/CS (Japanese DTHJ satellites, editor) broadcasting, Nippon TV is looking forward to succeeding Hulu’s business as a new path to deliver content through the Internet,” said Yoshio Okubo, president, Nippon TV.
“Hulu’s sophisticated brand, wide content line-up, and its outstanding technology are very attractive. We feel a big potential in the brand and service Hulu has created.”
“Hulu launched in Japan less than three years ago, a first-of-its-kind subscription video on demand service in the market which has grown to 50 content partners, offering users more than 13,000 assets of TV dramas and movies across 90 million devices,” said Mike Hopkins, CEO, Hulu.
“We are very proud to have created a service that Nippon TV, the broadcast leader in Japan, sees as a strong asset.”
Hulu launche in the US in 2008 and is a joint venture between NBCUniversal, 21st Century Fox, and The Walt Disney Company. Hulu launched its Japan service (also branded with the name Hulu) in September 2011