Analysis: Disney+, Hulu Combined Would Have More Popular Streaming Titles than Netflix. It Will Need Them Badly

It will be fascinating to see what effects the addition of a Hulu content tile on Disney+ will have on the subscriber numbers for both services. The public will have to wait until the company’s next earnings report to learn that information, but Ampere Analysis is revealing that the combination will have significant implications for the service’s content library.

• Ampere’s data shows that Hulu’s and Disney+’s combined content library will have 33 of the top 100 performing subscription video titles in 2023, more than Netflix.
• The two services combined will offer more than 9,000 titles, though licensing agreements prevent all Hulu titles from streaming on Disney+.
• Having a stable of in-demand streaming titles will be key as Disney pares back the number of Marvel and Star Wars content it releases.

Is Disney+/Hulu on One App a Better Streamer Than Netflix?

Even though some Hulu original titles are now available on Disney+, this does not represent a full merger of the two services. Not only are there licensing agreements preventing some of Hulu originals from appearing on Disney+, but the new one-app experience also does not provide access to all of the next-day episodes available on the service, nor is the Hulu + Live TV service available via Disney+.

However, despite these limitations, there is no doubt that Disney CEO Bob Iger would like to have these two platforms more fully and permanently integrated sooner rather than later. The House of Mouse is taking the first step toward that eventuality by officially agreeing to purchase the outstanding share of Hulu owned by Comcast. While the two corporations are still going through the process of determining the final sale price, once Disney owns the streamer outright, it will have far more flexibility in bringing the two streamers together.

While it is unlikely that simply by combining Disney+ and Hulu into a single app that Disney will immediately outpace Netflix’s subscriber total, new data from Ampere Analysis shows that bringing the libraries of the two streamers together will provide users with a powerful catalog of high-demand shows, bringing the total count of shows and movies to over 9,500. That would be second in the streaming world, behind only Prime Video.

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More importantly for Disney, the merged app would offer a wide selection of highly in-demand shows and movies. According to Ampere’s numbers, Disney+ already has 17 of the top 100 most popular streaming titles in 2023. Incorporating Hulu’s library would cause that number to rise to 33, which would give Disney+/Hulu the most popular streaming titles of any platform, more than Netflix’s 29.

“With a combined app offering Disney+ and Hulu due to launch in the US in early 2024, its compelling new streaming content offer will surely shake up the status quo,” Ampere analyst Josh Rustage said. “The combined Disney+ and Hulu catalogue will provide one of the most well-rounded and popular offerings in a single platform, upping the content stakes at a time when many are pulling back on content investment. Rivals will have to ensure their offerings remain competitive as the battle for viewing time intensifies, especially as the need to pull in advertising dollars is now also central to the streaming mix.”

There is one important caveat to point out in this discourse. Hulu content has been available on Disney+ as part of a public beta test since last week, but the official launch of Hulu on Disney+ won’t come until March 2024. Even then, Disney+ won’t have all of Hulu’s shows, as many of its licensed titles are contractually only allowed to stream on Hulu. But, once Disney owns all of Hulu, it is believed that Iger will move relatively quickly to merge his services into one.

Relying on Star Power

Having a large amount of top titles available on Disney+/Hulu will be key for Disney if it continues down the path it’s currently on. It will need shows like “The Bear” and “Only Murders in the Building” alongside “Ahsoka” and “Loki” will obviously give users a good variety of content, but the importance of the increase in popular shows on the merged platform goes deeper.

The reason that the strength of library will be so critical to Disney is because franchise fatigue has officially set in at the company. “The Marvels” is the lowest-grossing movie in the history of the Marvel Cinematic Universe (MCU), capping a year that saw zero Disney theatrical releases cross the $1 billion mark at the global box office. The company has already made it clear that it plans to pare back its Disney+ Marvel schedule, with an enhanced focus on quality over quantity.

That focus will be applied company-wide going forward, according to CEO Bob Iger. Iger spoke at an employees-only town hall meeting in late November, saying the company had perhaps overextended itself in recent years.

“In assessing some of our performance, recently, one of the reasons I believe it’s fallen off a bit is that we were making too much,” Iger said. “I think when it comes to creativity, quality is critical, of course, and quantity in many ways can destroy quality. Storytelling, obviously, is the core of what we do as a company.”

That approach will almost certainly lead to fewer titles overall being pumped out at Disney+, especially from the Marvel and Star Wars franchises. Those are still leaders for the company, but both have had their reputations tarnished by lackluster releases in the past few years. The Star Wars slate has already been totally re-imagined, as there are no theatrical releases scheduled from that property until 2026.

The high number of quality titles available on Disney+ with the Hulu combination will be massive as it tries to navigate a lower number of releases from its top franchises. They will help keep users engaged with the platform while users wait longer between headlining releases, and the availability of both services at a lower price thanks to the Disney Bundle will make it harder for users to churn away as well.

Ampere’s data is good news for Disney on its face, but it’s especially important in light of the company’s stated strategy moving forward. Disney+ and Hulu combined will have more of 2023’s top streaming titles than Netflix, and that level of content excellence will be crucial for the company as it reconfigures its release strategies for its top franchises in the coming years.