Disney Integrates Hulu into Disney+, Drops Key Streaming Metrics

Disney CEO Bob Iger announced the full integration of Hulu into Disney+, marking the end of Hulu as a standalone service. While Hulu will remain a distinct category within Disney+, the MOVE signals a strategic consolidation of Disney's streaming offerings. Internationally, Hulu will replace the Star brand on Disney+.

Investors face a new opacity as Disney ceases to report subscriber counts and average revenue per user for its streaming services. These metrics had been critical for assessing the health of Disney's direct-to-consumer business, which now accounts for nearly 40% of company revenue.

The news comes alongside mixed Q3 2025 earnings. Disney posted $1.61 adjusted EPS, beating estimates, but $23.7 billion revenue slightly missed projections. Linear networks dragged performance with a 15% revenue decline, underscoring the urgency of Disney's streaming pivot.