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There's no denying that Netflix (NASDAQ: NFLX) is the 800-pound gorilla when it comes to streaming. The company recently reported record subscriber growth leading to 148 million customers worldwide, including more than 60 million in the U.S. Countless studies and surveys have identified Netflix as the country's leading streaming provider.
The company's impressive lead may not last for long, however. Streaming contender Hulu, controlled by Walt Disney (NYSE: DIS), announced at an investor presentation Wednesday that its growth continues to outpace the streaming leader in its most mature market.
Image source: Hulu.
Outpacing the leader
At the Hulu '19 presentation, the company highlighted its rapid subscriber growth, an expanded original slate of content, and a new binge-ad feature, all of which Hulu believes will "bolster its goal of becoming the No. 1 choice for TV, in and out of the home."
Hulu said its customer count surged past 28 million total subscribers, with the addition of 3.8 million new customers in the first quarter. That's more than twice the 1.74 million customers Netflix added in the U.S. during the same period.
The latest figures are a continuation of a trend that began in 2018, when Hulu added 8 million new subscribers for the year, a 48% year-over-year increase, bringing its total customer base to 25 million. That easily surpassed the 5.68 million subscribers Netflix added in the U.S. last year. It also "catapult[ed] Hulu's customer reach beyond that of the country's largest cable and satellite pay TV providers," according to the company's press release.
Expanding content lineup
Hulu also announced an expanded partnership with Marvel, which is fresh off the record-breaking success of Avengers: Endgame. The collaboration will yield two new live-action television series for Hulu.
Marvel's Ghost Rider tells the tale of Bobbie Reyes, "a quintessential antihero, consumed by hellfire and supernaturally bound to a demon." Marvel's Helstrom follows the exploits of Daimon and Ana Helstrom, "the son and daughter of a mysterious and powerful serial killer ... as they track down the terrorizing worst of humanity." Both are slated to debut in 2020.
Using the tried-and-true Marvel formula, Hulu recently announced it would create four animated shows based on Marvel fan favorite characters M.O.D.O.K., Hit-Monkey, Tigra & Dazzler, and Howard the Duck. The four programs will result in a superhero team-up finale, Marvel's The Offenders -- an animated take on the successful partnership between Netflix and Marvel that led to Daredevil, Jessica Jones, Luke Cage, and Iron Fist, and culminated in Marvel's The Defenders. Netflix and Disney have since severed their relationship, as Disney prepares to launch its Disney+ streaming service on Nov. 12.