Hulu has scaled its business “from zero to US$1 billion” over the course of six years, CEO Mike Hopkins said in a briefing of the company’s year-end results.
The US-based streaming service will reach US$1 billion in revenue in 2013, up from US$695 million the year before, Hopkins wrote in a blog post on Wednesday.
Adding new content to the Hulu and Hulu Plus roster has been a priority – a multi-pronged effort that requires investment in “last night’s TV,” original first-run TV programming, and licensed content acquired from both within and outside the US. Hulu’s library now consists of shows from roughly 488 of the company’s partners, which includes 2,900 TV series and 68,000 hours of video.
Hulu also plans to continue to invest in original programming.
“We launched more than 20 Hulu Originals in 2013, and plan to double that number over the next few years. Shows like The Awesomes, Behind the Mask and The Wrong Mans performed extremely well on the service, and were among the top 10 most-watched shows on Hulu each week a new episode aired,” Hopkins said.
Hopkins pointed out new content added to the Hulu Kids hub from the Jim Henson Family TV Library, which he says gives Hulu Plus the rights to more Jim Henson Family titles than any other video subscription service in the US. “We also added classic titles from PBS Kids and Lionsgate including Sesame Street and Thomas & Friends, as well as Spanish-language kids programming.”
The number of brands advertising on Hulu has grown by 15% to 1,000, he says.
The network has consistently made it into US web metrics firm comScore’s monthly Top 10 online video ad rankings over the past year. For instance, in November, more than 1.4 billion ads were viewed on the site. Notably, Hulu had the highest frequency of video ads that month with an average of 89 ads per viewer, according to the rankings.