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Hulu revenue up 60 percent in 2011, to $420 million

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Hulu CEO Jason Kilar announced this week that its revenue in 2011 was $420 million, up 60 percent from 2010.

Hulu stock image
Hulu stock image

Hulu is up against seriously steep competition from Netflix, HBO Go, and even the same cable networks they rely on for content, but business continues to boom: the company announced it brought in $420 million in revenue in 2011, up 60 percent from 2010. Perhaps even more positive for Hulu is that Hulu Plus represents an ever-larger slice of that pie, with 1.5 million people paying for the service and new sign-ups coming twice as fast as a year ago — CEO Jason Kilar said he expects Hulu Plus to account for more than half of Hulu's revenue in 2012. Part of the leap in both subscribers and revenue is likely due to Netflix's Qwikster debacle, with some of the 800,000 Netflix defectors undoubtedly switching their allegiance to Hulu — we'll see if Hulu can keep up the momentum through 2012.