- Hulu CEO Randy Freer said audiences can expect more original programming to appear on Hulu now that Disney is in control.
- He declined to say how much the company would be investing into this endeavor.
- As entertainment giants like Warner Bros. and Comcast enter the streaming game, having a brand like Hulu is an asset for Disney.
"When you look at the capacity inside of the Walt Disney Company to create content, the IP that's there, the access we'll have with that is, you know, terrific. We are going to be able to invest more and invest more upstream and find the best stories and the best creators to make shows for the company," CEO Randy Freer told Julia Boorstin Tuesday on CNBC's "Squawk Box."
Freer, who took the helm at Hulu in 2017, told CNBC's the company's "investment in original programming will increase significantly."
Representatives for Hulu clarified that investments would be less about spending money and more about refocusing the company's resources. In the past, Hulu has concentrated on acquiring content, but with a powerhouse like Disney behind the streaming service, it can now put more effort towards creating its own.
A source close to the matter said Hulu's programming budget will remain in line with the guidance Disney provided during its investor day in April.
Hulu already has a slate of original shows including the Emmy Award-winning "Handmaid's Tale" as well as "Catch 22," "Ramy," "The Act," "Pen 15," and "Shrill."
Ahead of Disney securing a controlling stake in the streaming service, Hulu had already green lit two live-action Marvel shows — "Ghost Rider" and "Helstrom" — as well as a slate of four animated series featuring Marvel superheroes, including Howard the Duck.
As entertainment giants like Warner Bros. and Comcast enter the streaming game, having a brand like Hulu is an asset for Disney. Not only does it have proprietary programming, but it also has a live-TV feature as well as the option for ad-supported viewing.
Disney has also discussed bundling its ESPN+ programming and its upcoming Disney+ streaming service with Hulu, but it has not disclosed how much this bundle would cost or when it would become available. Disney+ will launch on Nov. 12.
Disclosure: Comcast is the parent company of NBCUniversal and CNBC.