DOW JONES (New York)--Tom Staggs, chief financial office with The Walt Disney Co. (DIS), said Wednesday that the companies embrace of Hulu, the popular online video site, hasn't yet weighed on traffic at its ABC.com site.

At an investors conference in Marina del Rey, Calif., Staggs said Disny has been pleased so far with its decision to join the joint venture behind Hulu, which includes big media counterparts News Corp. (NWSA, NWS) and General Electric Corp.'s (GE) NBC Universal.

In joining Hulu, Disney is ceding some control over the online distribution of its ABC television and other programming in exchange for an equity stake, marking a shift in the digital strategy of the entertainment giant.

On the subject of online video subscription service, a strategy being pursued by the cable industry in an effort to preserve its dual-revenue-stream business model online, Staggs said to the extent it makes more content available to consumers, it's a good thing.

Disney owns both cable networks, like ESPN and The Disney Channel, and broadcast networks, which have been more aggressive in putting programming online because they have no substantial subscription revenue from pay-TV providers to preserve. Thus far, the company has been noncommittal on the prospect of participating in the cable industry's push towards an online subscription model that would make cable programming available on the web for pay-TV customers who can confirm their subscription through an online authentication process - a concept known as "TV Everywhere."

Disney Chief Executive Robert Iger has expressed concerns about a consumer backlash in response to putting content online behind subscription walls, given the proliferation of free, ad-supported entertainment and news content that's currently online for free.

"We wouldn't want to see authentication used as a means of denying access to certain people to certain types of content," said Staggs.

Staggs noted that less than 5% of Disney's overall revenue comes from digital channels, with half of that being online ticket sales for its theme parks.

-By Nat Worden, Dow Jones Newswires; (212) 416-2472; nat.worden@dowjones.com