Speaking at IP&TV World Forum this morning Johannes Larcher, SVP International with Hulu, revealed the company turned over $260 million in 2010 and is forecasting $450 million for 2011 with a substantial contribution from Hulu+, the new subscription service.
Larcher said that in 2010 30 million US users streamed over 800 milion pieces of content (from 250 content partners) and over 1.1 billion ads.He said Hulu expected to have 1 million subscribers by the end of 2011.
Larcher said the CPM gap to broadcast was rapidly closing helped by targetting that could be charged at a premium, with a Nielsen endorsed 55 per cent increase in effectiveness versus broadcast ads.
On international expansion – where Hulu still has ambitions – he admitted the major hurdle was access to compelling content at ‘economically viable’ prices. Larcher suggested that Hulu would use a variety of business models as it expands the service internationally. “We’re not necessarily tied to a single business model such as in the US, with ad-supported, free content,” he said, adding that the Hulu+ subscription model had also proved effective. “A variety of models will progress nicely,” he predicted.