Hulu Posts Record Revenues In 2012, Hits 3 Million SubscribersBy: Zach Walton - December 17, 2012
2012 is looking to be a stellar year for pretty much everybody who makes their livelihood on the Internet. The year has been especially kind to the folks at Hulu. The streaming service grew exponentially this year, and it looks like it’s going to keep growing.
Hulu CEO Jason Kilar took to the company blog today to announce that Hulu will close on 2012 with $695 million in revenue. He says it’s a 65 percent increase over last year, and it shows that Hulu is growing even faster than before.
The revenue growth can be partially attributed to the continued success of Hulu Plus. The company now has over 3 million subscribers which is double the subscribers it had at the end of last year. The bump in subscribers can be attributed to two main causes – Hulu Plus is now available on more devices than ever before, and the service is pulling solid numbers in Japan.
Kilar notes that Hulu Plus was released on Apple TV, Wii, Wii U, Windows 8 tablets and Android devices all in 2012. Combine that with the existing apps on Xbox 360 and PS3, and you have a service that’s available to pretty much everybody. The expanded set of streaming options definitely help to attract more subscribers.
Any streaming service is only as good as its content, and Hulu Plus made good over the past year in content acquisitions. Kilar says that the company has expanded its offerings on Hulu and Hulu Plus by over 40 percent this year. That means that the service is now home to over 60,000 TV episodes and 2,300 TV series. A lot of TV series are also available soon after they air on television which makes Hulu a more attractive option compared to the likes of Netflix and Amazon.
It’s going to be interesting to see how the online streaming business evolves over the next year. Hulu has proven itself to be a major player in the arena, and the company could go into a myriad of directions in pursuit of more subscribers and advertising dollars.