Hulu 2012 Sales Rise 65% to $695 Million as Users Double
Hulu.com, the online television service, said revenue climbed 65 percent to about $695 million this year as paying subscribers more than doubled.
Hulu had more than 3 million customers paying $8 a month to watch shows on TVs, computers and mobile devices, compared with fewer than 1.5 million a year ago, Chief Executive Officer Jason Kilar said today on the Los Angeles-based company’s website.
The company, controlled by News Corp.’s Fox, Comcast Corp. (CMCSA)’s NBC Universal and Walt Disney Co. (DIS)’s ABC, is adding paying subscribers as the service becomes available on more mobile devices. Hulu can be accessed on more than 320 million Web-connected devices in the U.S., with subscriptions required to watch on smartphones, tablets, video-game consoles and TVs. Hulu’s free service is available on PCs.
The company also expanded the roster of advertisers, Kilar said. In 2012, more than 1,000 marketers placed ads on Hulu, a 28 percent increase from a year ago. Hulu began charging only for ads that are streamed in full this year.
Providence Equity Partners Inc., which co-founded Hulu in 2006 with Fox and NBC, sold its 10 percent stake in October for about $200 million, valuing the service at about $2 billion.
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