Hulu Plus cuts subs price at launch
November 17, 2010
Hulu has confirmed that its premium Hulu Plus is now available to everyone (in the US) to sign-up and use and it is dropping the trial price of $9.99 a month to $7.99 and will be crediting those who took it up at the old price.
US financial press has reported Hulu is considering an IPO to raise $200 million to $300 million that would help fund its efforts to expand and pay for more content deals. Such an offering would value the company at about $2 billion.
Backed by NBC Universal, Walt Disney, News Corp and private equity firm Providence Equity Partners, Hulu is now the second-largest Web video service behind Google’s YouTube in the United States. Last week, Chief Executive Officer Jason Kilar said the company’s revenue was on track to double this year to $240 million.