Hulu is ending 2012 with a bang when it comes to subscribers to its Hulu Plus service, as well as how much money its raking in from subscriptions and ad revenue.
Hulu CEO Jason Kilar took to the company’s blog today to give everyone a little insight into just how the company performed this year, and it isn’t too shabby. The streaming media company is estimating it will end the year with revenues of $695 million, an increase of over 65 percent from 2011. However, before you think the pile of cash is just sitting around somewhere, it was also revealed that over $500 million was spent on new content in 2012.
What did all that content spending garner Hulu? It now has 430 content partners spread over 2,300 TV series, 60,000 TV episodes and 50,000 hours of video. While you can’t fault Hulu for wanting to expand its content, as a frequent user of Hulu Plus, it is actually getting a bit difficult to wade through all of that to find what you want to watch.
I may be alone in that complaint, though, as the subscriber numbers are impressive. From April to Dec. of this year, the number of subscribers jumped from 2 million to 3 million. Year over year the jump was more than 100 percent.
One thing I have said about streaming media services is that they were in a bit of a catch-22 when it comes to advertisers. More subscribers won’t come if there isn’t enough content, and more advertisers – the way for them to pay for that content – won’t come if there aren’t enough viewers. Hulu seems to be finding its balance here as this year it had over 1,000 different advertisers, an increase of 28 percent over last year.
No specific numbers were shared for Hulu Japan, but it did say that its content offering had quadrupled over the past year, and the number of subscribers had tripled year over year. While those are numbers are somewhat ambiguous, it does sound like things are going well over in the Land of the Rising Sun as well.
Not many hints were given as to what we can expect to see from Hulu in 2013, but Kilar did state he was excited about the lineup of original and exclusive content coming to the service through out the year. Seeing these numbers, it’s a safe bet a lot of other people are as well.