Hulu reports $700 million in revenue

Michelle Clancy | 19-12-2012

The results are in, and online over-the-top TV provider Hulu is reporting none-to-shabby results with revenue growing 65% in 2012 to almost $700 million, and Hulu Plus subscribers doubling at the close of year, reaching over 3 million.
"We are closing on a big 2012," said CEO Jason Kilar, in a blog. "We will close the year with approximately $695 million in revenue. Hulu's revenues will have grown over 65%, which is an acceleration over 2011 growth levels."
Hulu Plus its subscription service arm of Hulu which officially launched in November 2010 saw several enhancements this year, including support on Apple TV, Nintendo Wii and Wii U, Windows 8 tablets and a slew of new Android tablets and phones. The service can now be accessed from more than 320 million Internet-connected devices in the US (not including laptop and desktop computers).
Kilar also noted that the company spent 2012 focused on content development efforts, investing more than $500 million in new deals and original series production.
"Throughout 2012, we aggressively grew our Hulu and Hulu Plus title offerings by over 40%, making us an increasingly valuable partner for our three customers (viewers, advertisers and content partners)," Kilar noted. "Since the launch of Hulu in October 2007, we have generated over $1 billion for our content partners."
The service now has more than 430 content partners, providing over 60,000 TV episodes, 2,300 TV series and 50,000 hours of video on Hulu and Hulu Plus.
In 2012 it also launched Hulu Kids on Hulu Plus through an expanded content partnership with Viacom Hulu Plus has become the only online video subscription service with current season content from Nickelodeon.
"Hulu Plus now offers current season episodes from more than 235 of the most popular television series on TV in the US, and more than 40 series on TV from across the globe ... something no other online video service offers," Kilar said. "We launched more than 25 Hulu Exclusive and Original Series combined, and signed new agreements with the likes of CBS and WWE, just to name a few. We are extremely proud of the TV series we released in 2012, and are excited about the slate of original series and exclusive series coming to Hulu in 2013."
Advertising is growing accordingly, he noted. In 2012, Hulu served more than 1,000 advertisers, 28% more than last year.
As far as international expansion goes, Hulu Japan has quadrupled the amount of content that it has within the past 12 months. That service is now accessible from over 50 million Internet-connected devices in Japan, plus laptops and desktop computers.
"We are attracting paying subscribers to the Hulu service in Japan at a volume that is more than triple our December 2011 levels," said Kilar.