When Mike Hopkins left his job as President of Fox Networks many thought he was crazy to become the CEO of Hulu. Not long before he took over, Hulu had been for sale and rumors were flying that some of the key owners wanted to shut it down. In the end, the only reason Hulu did not sell was the lack of a willing buyer who would pay the owner’s asking price.
Now, a little over a year and a half later, Mike Hopkins has done an amazing job turning Hulu around; preparing it to reclaim its spot as the second largest streaming service in the United States.
Let’s take a look at 3 of the top reasons Mike Hopkins has been successful in turning Hulu around:
One of the most difficult things any company can do is to accept that their brand has a bad reputation. In an effort to address the negativity surrounding the Hulu Plus name Mike Hopkins has done something many would shy away from; he is going to drop the Hulu Plus brand.
This is a smart move as it will give Hulu an opportunity to remake itself; similar to the way Comcast rebranded itself with Xfinity. Right now we know little about the full plan to rebrand Hulu, but it’s a step in the right direction.
#2. Content is King:
In the world of competing streaming services content has increasingly become more important. Under Mike Hopkins Hulu has successfully taken a massive amount of content away from Netflix and Amazon Instant. Mike has added content not only from networks like Fox and ABC, but also from cable networks like Discovery and even the BBC.
Hulu Plus now has more content than ever and a larger back catalog of shows; making Hulu an even more attractive server than it has ever been.
#3. Hulu plans to cut the number of ads:
Most people don’t consider ads on Hulu to be a major issue; however, there are some valid complaints about the number of times subscribers see the same ad during a show. Mike Hopkins has addressed this concern, and there is good news for those who hate ads but still want access to the shows; Hulu is working to reduce the numbers of ads you will see. Already some shows, like Bravo shows, have half the numbers of ads subscribers typically would have seen in the past.
It is still early in Mike Hopkins CEO tenure at Hulu, and ships as large as Hulu turn slowly, but the ship is turning and it looks to be headed in the right direction. If Mike Hopkins reshaping of Hulu is successful it should go down in history, right next to Steve Jobs turnaround of Apple in the 1990s after he was rehired as CEO.