Contentinople - Erin Barker - News Bits: Hulu Gets Social

Written by Erin Barker

Thursday, March 12. 2009 at 11:30 AM EDT Post a comment

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Hulu LLC is adding social-networking functions to its site today, The Wall Street Journal reports. Called Hulu Friends, the features will allow users to create profiles and share videos.

In addition to increasing viewing, Hulu is hoping social-networking functions will help them track who is watching what, which will allow advertisers to better target their ads.

TV.com, a CBS Corp. (NYSE: CBS)-owned site similar to Hulu, claimed, when it was re-launched with video in January, that its primary advantage over other video sites was its social community. Is it any coincidence that Hulu is launching these features now that TV.com has become a looming threat? We think not.

WSJ, however, suspects an ulterior motive. The article's author, Elizabeth Holmes, makes a strange and slightly nonsensical argument that, though these features are intended to increase viewing on Hulu, they will also somehow prove that the site isn't competing with traditional TV:

By underscoring that the site is about providing entertainment on the computer, and not replacing television, the new social-networking features also could help ease concerns about Hulu's potential to undermine the business interests of TV networks and cable operators.

Are you sure, Elizabeth? Because it seems, if anything, as if these features will make Hulu an even stronger competitor.

In other news:

Google (Nasdaq: GOOG) is finally putting its 2007 acquisition of GrandCentral to good use by introducing Google Voice, which allows users to connect all of their lines -- home, work, cell, etc. -- under one phone number.

It also has about a gazillion other functions, including some that existed under GrandCentral's original service and some that are new: Google Voice blocks telemarketers; transcribes your voice mails into searchable text; lets you eavesdrop as friends leave you voicemail; lets you record a different voice mail greeting for different callers; organizes your text messages; allows for free conference calling; and, presumably, drops off your dry cleaning.

"I'd hate to be a company that sells voice mail transcription or conferencing calling services right about now," writes David Pogue at The New York Times.

Forbes unveiled its annual billionaires list, this year with 30 percent fewer billionaires. There are now only 793 of them, down from 1,125 last year, after the number fell this year for the first time since 2003. Also, the average billionaire's net worth dropped 23 percent -- not to mention our favorite "youngest billionaire," Facebook founder Mark Zuckerberg, fell off the list.

One bittersweet victory: Even though he lost $18 billion in the past year, Bill Gates has reclaimed his title as No. 1, as Warren Buffet -- last year's No. 1 -- managed to lose several more billions through his Berkshire Hathaway Inc.

Tags: Business, CBS, Google, Hulu, Service Launch, Social Networks, Technology, Video

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