Starting tomorrow, a number of series are leaving Hulu as the streaming platform aims to cut between $1.5 billion to $1.88 billion from licensing costs. Hulu also has plans to remove an additional $400 million in impairment charges and has already removed several titles last month.
“We are in the process of reviewing the content on our [direct-to-consumer] services to align with the strategic changes in our approach to content curation,” said CFO Christine McCarthy. “As a result, we will be removing certain content from our streaming platforms, and currently expect to take an impairment charge of approximately $1.5 to $1.8 billion. The charge, which will not be recorded in our segment results will primarily be recognized in the third quarter as we complete our review and remove the content.”
Most series that are being cut had been canceled after only one season and this appears to be the new standard for any current or upcoming shows that won’t get renewed.
“The company may terminate certain license agreements for the right to use content on its platforms, which would result in the removal of licensed content from its platforms and lead to impairment and/or contract termination charges as well as cash payments,” said Disney in a recent SEC filing as reported by Deadline.
ABC’s Alaska Daily and The Company You Keep are on the list of programs leaving Hulu. Additional series cut by Hulu are The Detour, The Last Ship, Blindspot, and Angie Tribeca. If you’ve been putting off finishing these shows, you have until tomorrow to do so, though they won’t be completely erased from entertainment history. You’ll just have to look elsewhere or buy them.
Hulu is removing loads of tevlevision series and movies next movth, but is also bringing some fresh content to the streaming service. Check out the full list of what’s coming and going in July.