Netflix users looking for more movie options may be tempted to switch their loyalty going forward as Hulu continues to increase its movie catalog. Hulu started as the number one destination for TV shows, but it is now focusing on its movie catalog. Its film library is quickly catching up with that of the video streaming giant.
Hulu to overtake Netflix by this year
As of last month, Hulu had 3,800 films available to stream, following its significant year over year growth, according to Mashable. On the other hand, the video streaming giant is not doing so well when it comes to increasing its movie library. Over the past two years, Netflix’s film library reportedly decreased 33% to just 4,300 titles.
This trend of increasing and decreasing movies is expected to continue in 2016. At this rate, Hulu will possibly overpower the streaming giant in the number of movies in no time, probably by the end of 2016. In April, Netflix lost around 100 titles, but added just nine new ones. On the other hand, Hulu is doing the complete opposite; it has been adding around 50-100 movies every month for quite some time.
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Netflix’s movie title numbers may be coming down, but it is compensating for this with original programming and films. Only a few would agree that Hulu’s original programming is giving tough competition to Netflix.
Not many concerned
However, the video steaming giant does not look concerned about the reduction in its movie catalog.
When Mashable questioned Netflix, it said, “To put it simply, an exact number reflecting the breadth of the catalog does not exist.”
The renewal licensing processes occur on an ongoing basis, suggesting that titles are constantly added and removed from the service, the streaming firm said.
“Our focus is to continuously deliver great experiences for our members and we look to continue doing so by providing great movies and TV series that can only be found on Netflix,” it said.
Though both Hulu and Amazon have also increased their spending on originals, Netflix is still way ahead of them. The streaming giant has been very open about its ambitious plans to focus on originals. In 2016, it plans to spend around $6 billion on content overall (including original, licensed, etc.), giving viewers about 600 hours of programming.
On Friday, Netflix shares closed up 0.97% at $95.90. Year to date, the stock is down by almost 18%, while in the last year, it is up by almost 21%.