April 5, 2011

Hulu Exec Predicts Over 1 Million Subscribers In 2011

Hulu's top executive wrote in a blog post on Monday that the Internet video company is on track to nearly double its revenue to $500 million and bring its subscriber count to over 1 million this year.

"As a young company, we're excited about that number and we also expect it to grow aggressively in the years to come," Kilar wrote.

Comcast Corp.'s NBC, NEWS CORP., Walt Disney and Providence Equity Partners jointly own Hulu.

Hulu officially rolled out a subscription service called "Hulu Plus" last November, which is priced at $7.99 a month.

The online service faces stiff competition from companies like Netflix, Amazon, Apple and Google.

"It is still very early days for online video and our biggest opportunities/challenges are clearly still in front of us," Kilar wrote in a blog post.  "We're thankful for "” and humbled by "” the response we've received these past 90 days from our users, advertisers, and content partners."
Hulu made $263 million in revenue in 2010. 


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