Hulu Boasts 60% Growth, HuluPlus Soars

Hulu may be small, but like a healthy kid it’s growing fast. Overall business for the online streaming service grew 60% last year over 2010, CEO Jason Kilar noted today on the Hulu blog. Revenue climbed to about $420 million. Hulu’s content offering grew roughly 40%. Hulu Plus content more than doubled last year and it has more than 1.5 million paying subscribers. That number is growing — Hulu Plus is attracting more than twice as many subscribers daily versus the same time last year. Kilar reiterated that the company expects subscription services to account for more than half of Hulu’s overall business in 2012. Hulu projected investing half a billion dollars in content for 2012. Kilar suggested that the Hulu Plus business model enables the company to compensate content owners as much as 50% more per subscriber than other online subscription services. Hulu Plus is also available on a slew of devices including iPhone, iPad, Microsoft Xbox 360, Amazon’s Kindle Fire, Barnes and Noble’s NOOK Tablet, select Android smartphones, LG, Panasonic and VIZIO TVs and Blu-ray players. The free Hulu can be viewed only via computers. Hulu is jointly owned by NBCUniversal, News Corp., The Walt Disney Co., Providence Equity Partners and members of the Hulu team.

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