Hulu has reported that its revenue rose by 65 per cent in 2012 to $695 million. The US joint venture of Disney, Fox Broadcasting and NBCUniversal, is a private company and doesn’t report quarterly financials, but CEO Jason Kilar revealed some year-end figures in a blog.
He said Hulu generated $100 million in revenue in 2009 and more than $400 million in 2011. Its Hulu Plus subscription product, which launched in November 2010, boasts three million paying subscribers today, more than twice what they were at the end of 2011.
The service the shows on offer by 40 per cent in 2012 to 60,000 TV episodes, 2,300 TV series and 50,000 hours of video on Hulu and Hulu Plus. Kilar also said Hulu spent more than $500 million to acquire content this year.
“Since the launch of Hulu in October 2007, we have generated over $1 billion for our content partners,” Kilar blogged. “In 2012, we served more than 1,000 advertisers, 28 per cent more than last year. Our advertising service consistently sets the standard in online video advertising, including our practice to only charge advertisers when their ad has been streamed through completion.”