John Koblin, New York Times:

[Hulu] lost $920 million in 2017, according to BTIG, which projects that the business will lose $1.67 billion this year. Hulu is also facing more intense competition than ever as its rivals disrupt the entertainment industry by handing out big checks. In recent months, Netflix has signed the producers Shonda Rhimes and Ryan Murphy to nine-figure deals; Amazon has pledged more than $200 million toward a “Lord of the Rings” series; and Apple, a newcomer in the field, is shelling out hundreds of millions to create original programming of its own.

This is a great article, interesting on several fronts. Consider their complex ownership:

The Walt Disney Company (30 percent), 21st Century Fox (30 percent), Comcast (30 percent) and Time Warner (10 percent). If Disney’s pending $52.4 billion acquisition of most of 21st Century Fox wins governmental approval, as is expected, Disney will own 60 percent of Hulu.

And:

The Disney-Fox deal raises the question of what will happen to Hulu, given that Disney is already developing two streaming services. Another potential issue is whether or not two of Hulu’s owners — Disney, which owns ABC, and Comcast, which owns NBC Universal — will be able to play nicely with each other after they become owners with uneven stakes in the platform.

The article also takes you behind the scenes on a series pitch, where Hulu outbid all comers for the rights to produce the upcoming series “The Looming Tower”.

The whole thing is well written and fascinating. Oddly, the article was also posted on CNBC, if you don’t have access to the New York Times.