Hulu’s CEO Jason Kilar, on thursday posted the company 2011 revenue on the company blog. Kilar revealed that company’s revenue grew 60% from previous year, 2010, that is approximately to $420 million. The company made huge investments in innovation last year.
Hulu Plus now has more than 1.5 million paying subscribers and this number keep on increasing, on the faster pace than any other video subscription service (online or offline), Kilar added. Hulu continues to expect that its subscription services will account for more than half of Hulu’s overall business later this year.
Hulu dramatically increase its content for both its Hulu and Hulu Plus customers in 2011. Hulu’s content offering grew approximately to 40% with that of as compared to 2010. Hulu Plus’ content grew more than 105%. Hulu Plus is the only online video subscription service that offers current season content from 5 of 6 largest U.S. broadcast networks, with shows from The CW and Univision added in the 2011 Q4.
He also pointed out that digital ultimately becomes the primary source that consumers across the globe choose to access content. In context of 2012, he added that Hulu is planning to invest $500 million on content this year, not mentioning the sources from where they are going to raise the amount.
Hulu is a website and over-the-top (OTT) subscription service offering ad-supported on-demand streaming video of TV shows, movies, webisodes and other new media, trailers, clips, and behind-the-scenes footage from NBC, Fox, ABC, CBS, Nickelodeon, and many other networks and studios. Hulu videos are currently offered only to users in Japan and the United States and its overseas territories. Hulu provides video in Flash Video format, including many films and shows that are available in 288p, 360p, 480p, and in some cases, 720 HD. Hulu also provides web syndication services for other websites including AOL, MSN, MySpace, Facebook, Yahoo!, and Comcast’s xfinityTV.