×
You will be redirected back to your article in seconds

Hulu’s Advertising Chief Is Latest Exec to Exit

JP Colaco, one of the first Hulu employees, will leave company to pursue startup opportunities

JP Colaco, one of Hulu’s first employees and the exec in charge of advertising sales and operations, will depart the company next month.

Colaco will leave the Internet TV joint venture later in October and “pursue one of a few new startup opportunities he has in front of him,” Hulu acting CEO Andy Forssell wrote Monday in a blog post on the company’s site.

EARLIER: Hulu’s Executive Exodus Accelerates

Colaco is only the latest Hulu exec to ankle in recent months. Senior VP of sales Kevin McGurn quit to join Shazam Entertainment earlier this month, while Pete Distad, Hulu’s senior VP of marketing and distribution, joined Apple over the summer. Previously, CEO Jason Kilar and chief technology officer Richard Tom left Hulu and are working together on a stealth media startup in L.A.

Part of the executive exodus has been due to the uncertainty of Hulu’s future under owners NBCUniversal, 21st Century Fox and Disney. The three companies solicited bids for Hulu earlier this year, before announcing in July that they had decided to retain their stakes and plow $750 million into the venture.

“(A)s expected for any company as it matures, we’ve had some important contributors make the difficult decision to head off to exciting new chapters of their lives beyond Hulu,” Forssell wrote in the blog. “That’s part of the natural evolution and maturation process for any company, and I’m proud to see Hulu alums make their mark in other great companies, despite being very sorry to see them go.”

Colaco, one of the original Hulu team members from the fall of 2007 when the JV was formed by NBC and Fox, helped “lay the foundation upon which everything since then has been built,” according to Forssell, including the company’s Ad Swap, Ad Selector and 100% Completion Rate programs.

Hulu’s business remains strong, Forssell said: The company is on track to generate around $1 billion in revenue for 2013, versus $695 million last year. In addition, Hulu in the last 90 days has hired more than 90 new employees, he said.

Hulu’s parents have been searching for a permanent CEO. Those in consideration include Erik Huggers, currently head of Intel Media’s over-the-top TV project, the New York Post reported, citing anonymous sources. Others rumored to be in the running for the Hulu job are outgoing NBCUniversal exec VP Lauren Zalaznik and Fox Networks Group President Mike Hopkins, according to the Post.

Late last year, NBC, Fox and Disney renegotiated Hulu employee compensation packages when the trio bought out the 10% stake owned by Providence Equity Partners. Under that deal, staffers with stock-option grants received cash payouts.

SEE ALSO: Why Hulu Doesn’t Have an Ad-Free Service Like Netflix — Yet

Popular on Variety

More Digital

  • MINDHUNTER

    Netflix's Podcast Slate 'Deepens' Space Around Original Content, Programmers Say

    It should come as no surprise that, in its quest to become a full-blown entertainment ecosystem, Netflix has built a roster of podcast programming to complement its scores or original series and films. The programs recruit top talent and hosts to hang out and talk about the streaming giant’s TV and film content. It’s a [...]

  • Netflix-logo-N-icon

    Netflix Is Testing Human-Curated 'Collections'

    Netflix, a company powered by the strategic use of data, relies on artificial intelligence to suggest new content that its streaming customers are likely to be interested in. Now it’s looking to potentially add a human touch: The company has launched a limited-scale test of “Collections,” a new feature that presents groups of movies and [...]

  • wolves in the walls emmy

    Neil Gaiman VR Experience 'Wolves in the Walls' Wins Primetime Emmy

    “Wolves in the Walls,” the virtual reality (VR) experience based on Neil Gaiman’s children’s book by the same name, has been awarded with a Primetime Emmy for outstanding innovation in interactive media. The experience has been produced by San Francisco-based immersive entertainment startup Fable, which puts a big effort on making the viewer a participating [...]

  • The Void San Francisco

    The Void Teams Up With Sony Pictures for New Location-Based VR Experience

    James Murdoch-backed virtual reality (VR) startup The Void has teamed up with Sony Pictures Virtual reality to produce a new location-based VR experience, according to Curtis Hickman, the startup’s chief creative officer. Hickman revealed the partnership in a conversation with Variety this week, during which he also outlined plans to bring more original IP to [...]

  • US President Donald J. Trump speaks

    Apple Stock Down 4.6% After Trump ‘Orders’ Companies to Leave China

    Apple’s share price was down around 4.6% Friday at the close of the market, to $202.64 per share, after President Trump took to Twitter to “order” U.S. companies to leave China. The slide came amid a market-wide sell-off, with the NASDAQ sliding 3%, and the Dow dropping 623 points. Trump’s edict was a response to [...]

  • Former head of CAA China Peter

    Peter Loehr to Spearhead Asia Expansion of Genies Avatar Venture (EXCLUSIVE)

    Peter Loehr, the former head of CAA in China, and seasoned music executive John Possman have been tapped by digital avatar company Genies to lead its expansion into Asia. The company’s proprietary avatar technology allows users to express ideas, thoughts and feelings in a different way from text, audio and video. Within the app and [...]

More From Our Brands

Access exclusive content