Hulu to Hit $1 Billion in Revenue by End of Year
December 18, 2013 1:35 PM
It also has 5 million Hulu Plus subscribers now
Hulu mentioned in October that it could reach $1 billion in revenue by the end of the year, and it looks like the video streaming company has hit its target.
According to Hulu CEO Mike Hopkins, who
about the company's 2013 stats today, Hulu will achieve $1 billion in revenue by the end of the year -- which is a nice leap from $695 million in 2012.
"When you think about the fact that Hulu first launched out of beta in 2008, it’s quite an impressive feat to scale the business from zero to $1 billion over the course of just six years," wrote Hopkins.
He went on to say that
-- the company's paid subscription service -- reached 5 million subscribers this year with about 50 percent streaming exclusively on devices and living room viewing accounting for over half of content consumption.
Further, Hulu's knock-out year will end with a total of 488 content partners, 86,000 TV episodes, 2,900 TV series, and 68,000 hours of video on Hulu and Hulu Plus.
Hulu's growth also led to job creation, where the company managed to hire over 260 new throughout the year. This brings Hulu's team to 725 employees total -- a 20 percent increase in its employee base year-over-year.
That's a great ending for an eventful year for Hulu. Back in March, Hulu's board of directors had been
contacting potential buyers
in an effort to sell the company. But in July, NBC Universal Television Group (Comcast), Disney-ABC Television Group (The Walt Disney Company) and Fox Broadcasting Company (News Corp) -- which all co-own Hulu -- decided to
take the "for sale" sign off
the company and instead put $750 million USD in cash into the service to help it grow.
"Folks that want porn can buy an Android phone." -- Steve Jobs
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