All signs show Hulu is continuing the explosive growth it had in 2011. In fact, Hulu Plus — the streaming service's $8-a-month premium offering — has hit two million subscribers, reports The New York Times. That number is up by a third since the end of 2011, and has roughly quadrupled in the past year, showing people are increasingly willing to pay for better video quality, access to more content, and the convenience of watching their Hulu programming on non-PC devices.

With the growth of its own original programming, Hulu is competing more and more with traditional networks, and as such, is hoping to snag higher ad prices. This week, the company will begin two weeks of pitches to prospective advertisers in what's called an "upfront" — its first. With Hulu Plus support for more devices than ever, and lower prices for international subscribers, it's easy to see this kind of growth continuing for a while.

Update: Speaking at an AdAge conference this morning, CEO Jason Killar confirmed that Hulu Plus has now hit two million subscribers. While growth has been strong, Hulu Plus has a long way to go before it can challenge Netflix, which previously announced it had 21.7 million streaming customers in the US as of the end of 2011.

Nathan Ingraham contributed to this report.