Hulu.com, the joint venture video streaming company of NBCUniversal, Fox Entertainment Group, and Disney, has reported their 2011 numbers and they are BIG! Hulu has grown 60% from 2010 to $420 million in revenues despite the slow economy, which directly affects the advertising market. Hulu’s ad business grew aggressively and Hulu Plus helped their revenues shoot up from between $200-$300 million in 2010.
Hulu Plus has about 1.5 million paying subscribers and their numbers are growing at a rapid pace. Hulu Plus is attracting more than 2 times the number of subscribers each day when compared to the same time last year. In 2012, Hulu is planning on spending about about $500 million in content on behalf of their users.
“At scale, our model allows us to profitably pay content owners approximately 50% more in content licensing fees per subscriber when compared to other similarly priced online subscription services. We believe our approach will enable us to secure more valuable content for our users and to secure content in more attractive windows than would otherwise be possible. To that end, we are excited to invest approximately half a billion in content in 2012 on behalf of our users,” stated Hulu CEO Jason Kilar on the company blog.