×
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

More Digital

  • The Frontier

    Conecta Fiction: Project Pitches Prizes Passed Out in Pamplona

    On Wednesday evening the Spanish city of Pamplona was overrun, not by bulls, but by hopeful TV creators who had spent the early week pitching their projects at Conecta Fiction, and who anxiously waited to find out the titles which would take home silverware. Meanwhile, “Monzón,” a Disney-Pampa-Incaa production portraying the tragic violence of Argentine [...]

  • YouTube logo

    Why Splitting Up YouTube Is a Terrible Idea

    Facing mounting pressure over failures to protect children from inappropriate content, Google is reportedly considering a number of changes to its video sharing site YouTube. The Wall Street Journal reported Wednesday that one of the ideas circulated internally was to effectively split up YouTube, and spin out all children’s content into the existing YouTube Kids [...]

  • Niantic's Harry Potter: Wizards Unite Game

    ‘Harry Potter: Wizards Unite’ to Launch This Week

    “Pokemon Go” maker Niantic is getting ready to launch its next big game: “Harry Potter: Wizards Unite” is set to launch in June 21, the company revealed in a tweet this week. The worldwide launch of Harry Potter: Wizards Unite begins this Friday, June 21! Keep your eyes peeled and wand ready for more information [...]

  • google podcast creator program

    Google, PRX Unveil Second Slate of Their Podcasts Creator Program (EXCLUSIVE)

    Roughly a year after first unveiling its podcasts creator program, Google is renewing its commitment to train budding podcasters. Together with public radio and podcast distributor PRX, Google has chosen 6 podcasters from around the world to participate in the next round of the creator program. The podcasts included in the second cohort are “37 [...]

  • Camila Cabello

    Camila Cabello Reveals Podcast Obsessions, Teases New Album at Cannes Lions

    Camila Cabello was the featured speaker at a Tuesday afternoon panel at Cannes Lions, the annual gathering of marketing, design and entertainment professionals in the south of France. Joined by Spotify chief content officer Dawn Ostroff, the talk, moderated by Variety editor Shirley Halperin, was centered around the theme of the golden age of sound [...]

  • Meg Whitman and Jeffrey Katzenberg

    Quibi Has Already Booked $100 Million in Ad Sales, Jeffrey Katzenberg and Meg Whitman Say

    Quibi, the ambitious short-form video venture from Jeffrey Katzenberg and CEO Meg Whitman, has sold $100 million in upfront ad inventory with six advertisers ahead of its April 2020 debut. Advertisers that have committed ad spending to Quibi include Google, Procter & Gamble, PepsiCo, Walmart, Progressive and AB InBev, according to the company. The $100 [...]

  • China's iQIYI Signs Content, Channel Pact

    China's iQIYI Signs Content, Channel Pact With Malaysia's Astro

    Astro Malaysia, Malaysia’s leading pay-TV operator, has struck a strategic agreement with Chinese streaming platform iQIYI. Astro obtains the exclusive rights to deliver iQIYI content on TV, on-demand and via OTT in Malaysia. It will launch the first iQIYI-branded channel comprising iQIYI’s extensive slate of original content from drama to variety shows and movies. Astro [...]

More From Our Brands

Access exclusive content