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Hulu quickly adds subscribers

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Hulu quickly adds subscribers

Hulu quickly adds subscribers

Hulu added nearly 4 million paid subscribers in the first four months of the year, putting it on track to surpass the 5.7 million rival Netflix added in all of last year.

Fred Katayama reports.

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Hulu quickly adds subscribers

Hulu showing signs of momentum.

The digital streaming service for movies and TV shows like the "Handmaid's Ta added nearly 4 million paid subscribers in the first four months of the year.

That puts Hulu on track to surpass the 5.7 million paid U.S. subscribers rival Netflix added in all of last year.

The surge follows Hulu's move in January to slash the price of its most popular monthly plan by 25 percent to $5.99.

That same month, Netflix hiked the price of its best selling domestic plan to $12.99.

Hulu's subscriber growth bodes well for Disney, which co-owns the video service with Comcast.

Disney plans to launch its Disney+ subscription video service in November to take on Netflix, and Hulu complements its direct-to-consumer strategy.

Disney+ will offer family-friendly programming, whereas Hulu's offerings are targeted to adults.

Hulu currently boasts 28 million total customers, and Disney plans to boost that to as many as 60 million in five years by expanding Hulu internationally.

Disney shares inched lower Wednesday morning; Comcast rose slightly.

Hulu doesn't trade.



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