You may know Hulu for its subscription media content service, but you may not be sure who actually owns the company. Walt Disney (DIS 0.67%) and Comcast (CMCSA 0.76%) currently own Hulu; Disney has a majority stake and is about to acquire complete control of the streaming company.
Disney originally made a deal with Comcast to acquire majority ownership of Hulu in 2019, giving it a 67% stake. In November 2023, Disney announced that it would acquire the remainder of Comcast's stake in the entertainment business, with the deal expected to be finalized in 2024.
Disney paid $8.6 billion to Comcast in December 2023, launching a content hub for Disney+ that features Hulu content in early 2024. Negotiations about the remaining value of Comcast's stake, however, have been a bit of a sticking point.
In May 2024, the Wall Street Journal reported that Disney's estimate of the remaining fair value of Hulu was more than $10 million less than Comcast's estimate, raising the potential for litigation between the two companies.
As of mid-2024, an independent appraisal of the fair valuation of Comcast's remaining stake was still underway. Hulu remains a key part of Disney's vision for the future growth of its streaming services. While it controls the majority stake in the business, a resolution of its final buyout of Comcast's ownership will be key to its long-term plans for its streaming enterprise.
Who owns Hulu?
Hulu is an over-the-top (OTT) video streaming platform launched in 2007. The company started as a joint venture among several entities, including investment firm Providence Equity, NBCUniversal, and News Corporation -- now traded as News Corp (NWSA -0.29%) -- which Disney later joined. Hulu was originally launched as an aggregator for TV show episodes from each of the joint venture partners.
In 2019, Disney bought 21st Century Fox, which gave it a 60% stake in Hulu. That same year, while under the ownership of AT&T (T 0.98%), WarnerMedia relinquished its roughly 10% stake in Hulu, giving Disney majority control of the company. In the end, this left Disney with an approximate 67% stake in Hulu and Comcast controlling about 33%.
Once an independent appraisal of the remaining value of the Comcast stake is completed and the deal is finalized, Disney will retain full ownership of Hulu.
Who are the largest shareholders of Hulu?
Disney is projected to own 100% of Hulu, assuming the transaction concludes with no further bumps. However, its existing control of 67% of Hulu still makes it the majority stakeholder and parent company. The largest stakeholders of Disney stock as of mid-2024 were institutional investors. Disney’s five largest institutional investors were:
- The Vanguard Group is an investment advisor based in Malvern, Penn., with approximately $7.7 trillion in global assets under management. It is the largest provider of mutual funds and the second-largest provider of exchange-traded funds. It holds 153.8 million shares of Disney, representing an 8.43% stake.
- BlackRock (BLK -0.36%) was founded in 1988 and is the world’s largest asset manager, with $10 trillion in assets under management. It owns 121.7 million shares of Disney, representing a 6.68% stake.
- State Street Corporation (STT -0.22%) is a global financial services and bank holding company with $4.1 trillion in assets under management. It owns 76.04 million shares of Disney, representing a 4.17% stake.
- Morgan Stanley (MS 0.2%) is a multinational investment bank and financial services company headquartered in New York City. It owns 47.83 million shares of Disney, representing an equity stake of approximately 2.62%.
- Geode Capital Management LLC is an investment management firm based in Boston with $1.2 trillion in assets under management. It owns 35.78 million shares of Disney, representing a stake of 1.96% of Disney.
Shareholder
There are also some individuals of note who have a large stake in Disney. However, about 70% of shares are held by institutions, and only 0.08% of shares are held by Disney insiders. The top five largest individual shareholders, according to Disney's most recent proxy statement, are:
- Christine M. McCarthy: McCarthy is the former chief financial officer of the Walt Disney Company and owns 207,900 shares. Her current stake is worth approximately $20,166,300.
- Robert A. Iger: Owns 205,036 shares. He was the president of ABC from 1994 to 1995 and president and chief operating officer of Capital Cities/ABC from 1995 until it was acquired by Disney in 1996. Iger became president of Disney in 2000 and was CEO from 2005 to 2020; he stepped down but returned as CEO in 2022. His current stake in the company was valued at about $19,888,492.
- Kevin A. Lansberry: Owns 17,485 shares. Lansberry serves as executive vice president and chief financial officer of Disney Experiences, a role he has filled since 2017. He was also the interim chief financial officer for The Walt Disney Company from July to December 2023. His current stake is valued at approximately $1,696,045.
- Safra A. Catz: Owns 11,131 shares, a stake of approximately $1,079,707. She has been CEO of Oracle Corporation (ORCL -6.32%) since 2014. She was president of Oracle from 2004 to 2014 and the company's chief financial officer from 2005-08 and from 2011 to 2014.
- Horacio E. Gutierrez: Owns 9,407 shares, a stake of about $912,479. Gutierrez is the chief legal and compliance officer of the Walt Disney Company. He has also been head of global affairs and chief legal officer for Spotify (SPOT -1.13%), as well as vice president and general counsel for Microsoft (MSFT -0.3%).
Who is on the board of directors for Hulu?
Twelve people serve on the board of Hulu's parent company and majority owner, Walt Disney:
- Mark G. Parker: Parker is the executive chairman of Nike (NKE -0.77%), where he has worked since 1979. According to the company's most recent proxy report, Parker owns 129 shares of Disney.
- Mary T. Barra: She has been a director since 2017. Barra has also served as chair of General Motors (GM -0.22%) since 2016 and CEO since 2014. Barra has worked in various roles at General Motors. She owns 229 shares of Disney.
- Safra A. Catz: She has been a director since 2018. She is also a member of Oracle's board of directors and was previously a director at HSBC Holdings (HSBC -0.62%) from 2008 through 2015.
- Amy L. Chang: Chang has been a director since 2021. She is a member of the board of directors of Procter & Gamble (PG 1.03%). She was previously executive vice president and general manager of Cisco's (CSCO -0.65%) collaboration business. Chang owns 1,198 shares of Disney.
- Jeremy Darroch: He is a director of Reckitt Benckiser Group plc (RBGL.Y 0.5%). Previously, Darroch was executive chairman and group CEO of Sky. He owns 1,156 shares of Disney.
- Carolyn N. Everson: She has been a director since 2022. She previously served as president of Instacart (CART -1.23%) as well as vice president of Global Marketing Solutions at Meta (META -1.73%) from 2011 to 2021. She also has worked as corporate vice president of Microsoft Global Advertising Sales, Strategy & Marketing. She owns 265 shares of Disney.
- Michael B.G. Froman: He has been a director since 2018. Froman is president of the Council on Foreign Relations (CFR). He previously served as vice chairman and president of Strategic Growth at Mastercard (MA 0.77%). He was U.S. Trade Representative from 2013 to 2017 and a deputy national security advisor for international economic policy from 2009 to 13. He also held numerous positions at Citigroup (C -0.06%). Froman owns 8,623 shares of the company.
- James P. Gorman: He has been a director since 2024. Gorman has been the executive chairman of Morgan Stanley from 2010 to 2023. He joined the firm in February 2006 and was named co-president in December 2007. Before joining Morgan Stanley, he held executive roles at Merrill Lynch and was a senior partner at McKinsey & Co.
- Robert A. Iger: He has been a director since 2022. Iger is the current CEO of Walt Disney.
- Maria Elena Lagomasino: She has been a director since 2015. Lagomasino is the CEO and managing partner of WE Family Offices, which serves high-net-worth families. She was also chairman and chief executive officer of JPMorgan Private Bank, a division of JPMorgan Chase & Co (JPM 0.27%). She owns 2,815 shares of the company.
- Calvin R. McDonald: Director since 2021. McDonald is CEO of Lululemon Athletica (LULU -1.98%) and previously was president and CEO of Sephora Americas, a division of LVMH (OTC:LVMU.Y). McDonald owns 1,671 shares of the company.
- Derica W. Rice: Director since 2019. Rice was formerly the president of CVS Caremark, the pharmacy benefits management business of CVS Health (CVS 1.15%), and executive vice president of CVS Health. Rice has worked at Eli Lilly (LLY -0.38%) as executive vice president of global services and chief financial officer. Rice owns one share of the company.
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How to invest in Hulu
If you want to invest in Hulu stock, you'll need to buy shares of its majority owner Disney, which will soon own 100% of the company when its deal with Comcast finalizes.
First, open a brokerage account to buy shares of Disney, if you don't already have one. You will need some information, including your address, date of birth, and Social Security number. Some brokerages will also require you to put a certain amount of funds in the account.
Next, decide how much you want to invest. Disney is a mainstay value stock, but it's important to put cash into a variety of stocks and sectors. Preferably, you should diversify across at least 25 stocks and hold any stock you buy for at least five years.
Be sure to research Disney and any other company you're considering before you hit the buy button. Recent investor presentations, annual reports, and quarterly reports can be especially helpful in understanding how the business makes money and what its growth story looks like.
Finally, if you want to invest in Hulu, you'll need to place your order for Disney under ticker symbol DIS. Determine how many shares you want to buy or the dollar value you want to pay.
FAQ
Who Owns Hulu: FAQ
Who owns Hulu right now?
Disney owns 67% of Hulu, with the remaining 33% controlled by Comcast. Disney is in the process of finalizing a deal that will enable it to obtain 100% control of Hulu.
Is Hulu 100% owned by Disney?
Not yet. Disney is in the process of finalizing a deal that will give it 100% control of Hulu.
Why did Disney purchase Hulu?
Disney sees Hulu as key to its long-term growth objectives for its streaming services.
What are the parent companies of Hulu?
Hulu's current parent companies are Disney (67%) and Comcast (33%). However, Disney is in the process of buying Comcast's remaining shares so it becomes the sole owner of Hulu.
