Monday, March 10, 2008

Internet TV site, Hulu debuts this March

Fortune is reporting that Internet TV site, Hulu is is set to debut later this month.

Hulu is an online video on demand service jointly owned by NBC Universal and News Corp.

With this new service both the promoters are fighting to carve a place for themselves in the rapidly changing world of digital media.

This video website is supported by advertisments, but a lot less compared to Television. It is just two minutes for every 22 minutes of content, as opposed to eight minutes on TV.

Money was not a problem for the company. In last May, Providence Equity Partners offered a cool $100 million for a 10% stake giving the company a valuation of $1 billion.

After one year and an estimated $15 million worth of development costs, Hulu, is set to launch its service.

Have a look here.

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