MUMBAI: The online video on demand (VOD) service giant Hulu has decided to move out of the Japanese market. It’s been three years since it has operated in the region and now Hulu is selling its business Nippon Television Network Corporation.
Hulu launched in Japan in September 2011. Now, Nippon TV is taking over the operations, in a transaction expected to close in early spring. The move marks Nippon TV's entry into the SVOD business.
As part of the acquisition, both companies will be entering into a separate agreement in which Hulu will license its brand and technology to a subsidiary of Nippon TV, as well as provide support services that will enable Nippon TV to continue to make the SVOD service available under the Hulu brand using the same platform. Nippon TV’s popular shows and original exclusive content will launch on the Hulu service in Japan.
Nippon TV also plans on consolidating on the already prevalent business of Hulu and will look to add on its already boisterous presence in terrestrial broadcasting with delivery of content through the internet. The company is confident of using Hulu’s brand and wide content line-up and technology to further its brand value.