Market Research on Hulu - Report Example

Introduction

Hulu is one of the internet-based service providers delivering television and video content to its potential consumers. The company provides live TV streaming services and other video services to their consumers on connected devices, enabling their viewers to view even previous aired programs such as comedy, dramas, documentaries, and children shows (Watroba, 2020). There is high uptake of TV streaming services that most consumers comfortably access through different connected devices.

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Additionally, consumers have also been making use of game consoles used to play the actual game and for video viewing. The contemporary usage of television, people using television (PUT) has increased by 19 percent, total usage of television (TUT) has seen an increase of 25 percent, connected device usage has increased by 46 percent, and game console usage has increased by 59 percent ("Connecting with Customers in the Age of Social Distancing - Connecting with Your Customers in the Age of Social Distancing | Self-Service," 2020).

Upsurge

Generally, the company has seen an upsurge in viewing that stands at 48%. Besides, apart from being used as a source of entertainment, connection, and information, Hulu also acts as an outlet for social engagement across all the company’s genres of products("Connecting with Customers in the Age of Social Distancing - Connecting with Your Customers in the Age of Social Distancing | Self-Service," 2020). Hulu reaches out and provides its product and services to its customers through technology. Though this, Hulu satisfies the need for comfortable live and on-demand TV shows within the entertainment and information genre that is composed of thousands of episodes of movies, dramas, and comedies that customers can choose based on their taste, preference, and specified sets of motivations.

Conclusion

Hulu has experienced an increase of 48 percent of the last year in the number of their customers using their platform to view movies. Over time, Hulu has witnessed increased demand for movies, children’s contents, and comedies. The main competitors of Hulu are Netflix and Amazon, which have also launched streaming services of the last years (Nath, 2020). Netflix was a surcharge distribution-to-consumer channel for video services and later introduced streaming services. Amazon's business model is almost the same as that of Netflix with large library of TV shows and movies. However, Hulu gives access to a variety of shows and movies at a much lower cost in their subscription options making it more economical and preferred than its main competitors (Watroba, 2020).

References

Connecting with Customers in the Age of Social Distancing - Connecting with Your Customers in the Age of Social Distancing | Self-Service. hulu.com. (2020). Retrieved 4 October 2020, from https://home.admanager.hulu.com/insights/connecting-with-your-customers-in-the-age-of-social-distancing/.

Macdonald, E., Wilson, H., & Konus, U. (2020). Better Customer Insight—in Real-Time. Harvard Business Review. Retrieved 4 October 2020, from
https://hbr.org/2012/09/better-customer-insight-in-real-time.

Nath, T. (2020). Hulu vs. Netflix vs. Amazon Prime Video: What's the Difference?. Investopedia. Retrieved 4 October 2020, from
https://www.investopedia.com/articles/personal-finance/121714/hulu-netflix-and-amazon-instant-video-comparison.asp.

Watroba, N. (2020). Hulu Help. Help.hulu.com. Retrieved 4 October 2020, from
https://help.hulu.com/s/article/what-is-hulu?language=en_US.