Well, the long awaited day is upon us. After months of speculation and hype, the new News Corp/ NBC video portal finally has a name.
The site will be called Hulu.com, which executives say they chose because it “sounded fun and rhymed with itself”. (I have been through a naming process myself and know how hard it is … but that doesn’t sound too scientific … or creative).
Hulu will be stocked with movies, TV episodes and more from the two media companies and their partners. The site is an effort to regain control of the online video world from consumers. It’s also an easy way to monetize content through advertising.
Sites such as YouTube are usurping the place of big content providers, which wreaks havoc with media companies’ revenue models, not least because consumers have wrested the content — and the chance to sell it to advertisers — away from the companies that produced it in the first place.
At the same time, ad dollars spent on online video are expected to soar over time. By 2011, U.S. online-video advertising will increase to $4.3 billion from $410 million in 2006, according to eMarketer.
Despite finally earning a name, Hulu is not expected to appear in any public form until September. The inquisitive may request beta access, which may begin in October.
UPDATE: I now learn “Hulu” basically means “Cease and Desist” in Swahili. Oh dear! What was I saying about the naming process earlier??