The streaming service behind The Handmaid’s Tale and Castle Rock hit a valuation of $15 billion on Tuesday.

Hulu’s rise has come quickly, and the company has almost tripled its valuation.

The huge increase in Hulu’s value has come amid Hulu’s $1.4 billion purchase (buy-back) of AT&T’s 9.5% stake in the entertainment streaming company. This is a huge improvement upon Hulu’s previous $5.8 billion valuation, which occurred when Time Warner bought the aforementioned stake in Hulu back in 2016. AT&T inherited that stake in Hulu after they bought Time Warner. Since then, the new leadership decided that they no longer need to have a 9.5% stake in Hulu.

Hulu reports that they intend to use the new proceeds to shrink its massive debt. AT&T, for its part, plans to launch a new streaming service later this year. 2019 is the year that will see the digital streaming industry reach epic new proportions. The entertainment industry is scrambling to either buy intellectual property or corner a unique market in this blooming industry.