Hulu Tops 3 Million Paying Subscribers

CEO Jason Kilar says company will pull in about $695 million in revenue

By Todd Spangler, Multichannel News -- Broadcasting & Cable, 12/17/2012 1:13:03 PM

Representing a growing threat to traditional pay-TV services, Hulu will close out the year with more than 3 million paying subscribers for its Hulu Plus service -- more than doubling over the last 12 months -- and will pull in about $695 million in revenue, according to CEO Jason Kilar.

The privately held company is at "the crest of two massive waves that we believe will persist for the long term: the rise of online video advertising and the rise of online video subscription services," Kilar wrote in a blog post Monday.

The Internet video site is owned by NBCUniversal, News Corp. and The Walt Disney Corp. Last year, Hulu's owners had been in discussions about selling the company. Those reportedly in talks about a possible deal included Google, Yahoo, Microsoft, AT&T, Verizon Communications and Amazon.com.

In 2012 Hulu's revenue will have grown by more than 65%, up from $420 million last year, which is "an acceleration over 2011 growth levels," Kilar noted. The Hulu Plus subscription service, which costs $7.99 per month, is available across a range of devices, including game consoles, connected TVs and Blu-ray players, tablets and smartphones.

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