If the rumors are to be believed, it would seem that Hulu is coming to the conclusion that it may have gone too far in pricing its premiun service at $9.95 a month. That sound you just heard was the collective “Duh!” uttered by the entire Internet.

hulu plusBack in June streaming video site Hulu announced a privae beta of a new subscription-based service called Hulu Plus.  The concept was that you pay $9.95 a month and you would get deeper access to shows that the site carries, and you would also be able to add it to third-party devices such as the Xbox 360 eventually.

While the service is still in beta, MediaMemo is reporting that the company is already looking at slashing the current $9.95 monthly subscription fee by nearly half o $4.95 a month.  Apparently despite the limited nature of the test, people are not thrilling to the price like the company had hoped.

We have to admit we find this a bit odd as it isn’t even open to the public as of yet.  And with the company looking at an IPO next year, is this the message you want to send to potential investors that you can’t even properly read your customers correctly to price services at an amount they will tolerate?  Not an auspicious start to your first paid offering.

No word on when, or if, the rumors will be confirmed.

What say you?  Did Hulu go too far with its pricing?