Hulu CEO Jason Kilar Eyes More Than $240M in Revenue for 2010
The amount would be more than double last year's figure for the online video venture.
NEW YORK -- Online video joint venture Hulu expects to generate more than $240 million in revenue this year, more than double the $108 million recorded in 2009, CEO Jason Kilar said Wednesday in providing a rare glimpse into the company's financials.
Hulu shared some of the data and information that he presented at the NewTeeVee Live 2010 conference in San Francisco. The company, a venture of Walt Disney, News Corp., NBC Universal and private equity firm Providence Capital Partners, said a few months ago that it was profitable.
While the data unveiled had the feeling of a test run for an IPO roadshow, the company didn't discuss a possible initial public offering that it is believed to be considering, among various options.
But Kilar on Wednesday also mentioned that it served 30 million users in the past month and that 260 million content streams were consumed on Hulu over the past month along with 800 million ad streams.
Kilar highlighted that Hulu is looking to help innovate the future of advertising with new offers. He also cited Nielsen IAG research showing that ads on Hulu are 55% more effective than the same ads on traditional TV.
In other Hulu news, Sony's PlayStation Network said Wednesday that all PS3 owners with a free PlayStation Network account are now able to download and subscribe to Hulu Plus.