Hulu Removing Additional Programs From Its Service as Part Of a Billion Dollar Write Down

Hulu is pulling a number of additional program series from its server as part of Disney’s wider plan to cut streaming costs, according to Deadline.

What’s Happening:

  • Hulu will be pulling a number of series from its service as part of Disney’s wider plan to cut streaming costs.
  • It is expected that they will remove more of its direct to consumer platforms in the third quarter.
  • While removing certain content from the streaming platform, it is expected to take an impairment charge of approximately $1.5 to $1.8 billion.
  • It was revealed that Alaska Daily and The Company You Keep, which only had one season on ABC, will be removed next month.
  • It is said that going forward, series that are canceled after one season on ABC as well as specials will most likely fall under a similar strategy.
  • If you still want to see those episodes, it will be available to buy on iTunes or Amazon.
  • This also includes licensed content like Angie Tribeca, Blindspot, The Detour and The Last Ship.
  • Previously, many of these shows were not going to expire until between 2024 and 2026, but now will no longer be available after July 1.

What They’re Saying:

  • Disney said in its SEC filing, “The company may terminate certain license agreements for the right to use content on its platforms, which would result in the removal of licensed content from its platforms and lead to impairment and/or contract termination charges as well as cash payments.”
  • It comes after outgoing CFO Christine McCarthy said during the May earnings call, “We are in the process of reviewing the content on our [direct-to-consumer] services to align with the strategic changes in our approach to content curation. As a result, we will be removing certain content from our streaming platforms, and currently expect to take an impairment charge of approximately $1.5 to $1.8 billion. The charge, which will not be recorded in our segment results will primarily be recognized in the [fiscal] third quarter as we complete our review and remove the content.”

Tricia Kennedy
As a huge Disney fan Tricia enjoys having Walt Disney World basically in her backyard. When she's not at the theme parks she is either playing drums or with her dog Yoda. She is a lifelong Star Wars fan and has ridden Star Tours over 270 times.