Hulu to spend $100 million on advertising in 2020
By DAVID LEMONBERGAssociated PressHULU, Utah — The world’s biggest movie theater chain said Friday it plans to spend about $100 billion on advertising, up from $65 billion in 2020.
Hulu’s advertising plan includes buying ads in newspapers and online video sites.
The company said it also plans to expand its TV advertising efforts.HULUs annual revenue is projected to rise to $2.4 billion this year, or $14.7 billion in 2018, according to an industry analyst report.
The company’s quarterly report also said it plans an expanded digital strategy with plans to pay $200 million to TV broadcasters for exclusive rights to its content.
The news comes a week after Netflix announced plans to increase its digital advertising efforts and launch an online streaming service, dubbed “Hulu Prime.”
Netflix will pay a total of $8.6 billion to broadcast networks and cable operators in the U.S. this year and will spend an additional $8 billion over the next three years on digital ad sales.