Hulu CEO: Content Partners to Make $300 Million From Company This Year
The online video venture is on pace to exceed 1 million Hulu Plus subscribers and hit other 2011 targets, Jason Kilar also says in a blog post.
NEW YORK -- Hulu, the online video joint venture of Walt Disney, News Corp. and NBCUniversal, is on pace to exceed 1 million Hulu Plus subscribers in 2011 and approach $500 million in revenue this year, CEO Jason Kilar reiterated in a blog post Monday night.
Hulu had posted $263 million in revenue for all of 2010. It only launched Hulu Plus late last year.
He said that the content community will earn about $300 million via Hulu over the course of 2011.
"As a young company, we’re excited about that number and we also expect it to grow aggressively in the years to come," he said.
Kilar also said that the venture's revenue grew approximately 90 percent in the first quarter of the year over the same period a year earlier. He didn't specify a figure.
The company, which celebrated its third anniversary since the public launch of Hulu.com on March 12, served 289 advertisers in the opening quarter of 2011, up about 50 percent from the 194 in the year-ago period.
Users initiated 10 percent more streams in the latest quarter than in the closing quarter of 2010.
"Given the ongoing discussion around the evolution of premium content distribution – and Hulu’s role in it – we thought it would be worthwhile to share some of our progress from the first 90 days of 2011," Kilar said in explaining the reason for the update.
Earlier this year, a Kilar blog post that argued that traditional TV has too many ads and isn't as effective as his firm's ads caused an uproar among Hulu owners.
On Monday, Kilar also said that Hulu also grew the number of content partners to Hulu Plus and Hulu to 264 in the first quarter, up from 211 in the year-ago period, with latest additions including brands from Viacom, such as Comedy Central.
"It is still very early days for online video, and our biggest opportunities/challenges are clearly still in front of us," said Kilar. "We’re thankful for -- and humbled by -- the response we’ve received these past 90 days from our users, advertisers, and content partners."