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Hulu will reach $1 billion in revenue for 2013, now counts over 5M Hulu Plus subscribers

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hulu plus 1020 stock
hulu plus 1020 stock

Hulu will have reached $1 billion in revenue by the end of 2013, marking the first time the streaming service has hit that mark in its relatively short history. CEO Mike Hopkins, who only became Hulu's chief executive in October, announced the news in a blog post today. The number isn't entirely a surprise; Hulu said in October that it anticipated ending the year near that $1 billion target. Hopkins added, "When you think about the fact that Hulu first launched out of beta in 2008, it’s quite an impressive feat to scale the business from zero to $1 billion over the course of just six years." Back when he first took on the role of CEO, Hopkins described 2013 as "one of the strongest years Hulu has ever seen," and today's update seems to bear that out.

That momentum continues over to Hulu Plus, the company's premium subscription service. Hopkins says over 5 million users are paying for Hulu Plus each month. And much in the way they traditionally watch TV, consumers seem to prefer watching Hulu in the living room: living room viewing accounts for "over half" of all content consumption. Still, Hopkins points to an ever-expanding lineup of supported devices as proof that Hulu remains focused on mobile hardware. As for exactly how much content is currently on Hulu, Hopkins says the company has rounded up 488 content partners, resulting in over 86,000 TV episodes, 2,900 TV series, and 68,000 hours of video across the service. Earlier in the year, Hulu's backers tried unsuccessfully to find a new home for the service, ultimately pulling the plug on a sale in July.