Hulu Reports 65 Percent Revenue Growth in 2012
The joint venture says it invested $500 million in content this year.
Hulu said Monday its revenue surged 65 percent in 2012 to $695 million.
The streaming-video website, a joint venture of Disney, Fox Broadcasting and NBCUniversal, is privately held and doesn’t report quarterly financials, but CEO Jason Kilar revealed some year-end figures in a blog post Monday.
According to a chart he included in his post, Hulu generated $100 million in revenue in 2009 and more than $400 million in 2011.
Its Hulu Plus subscription product, which launched in November 2010, boasts 3 million paying subscribers today, more than twice what they were at the end of 2011.
The service increased title offerings by 40 percent in 2012 to 60,000 TV episodes, 2,300 TV series and 50,000 hours of video on Hulu and Hulu Plus. Kilar also said Hulu spent more than $500 million to acquire content this year.
“Since the launch of Hulu in October 2007, we have generated over $1 billion for our content partners,” Kilar blogged. “In 2012, we served more than 1,000 advertisers, 28 percent more than last year. Our advertising service consistently sets the standard in online video advertising, including our practice to only charge advertisers when their ad has been streamed through completion.”
Read the entire post here.