Hulu to Reach $1 Billion in Revenue by Year's End
Earlier this year, the board of directors at Hulu were considering selling the company. However, co-owners of the company, which include ABC Television Group, Fox Broadcasting Company, and NBC Universal Television Group, decided to invest $750 million in order to help the service grow. Mike Hopkins, CEO of the online streaming content provider Hulu, announced in a blog post today that the company is set to reach $1 billion in revenue by the end of the year. Hulu is also boasting that its subscription-based Hulu Plus service has reached five billion subscribers earlier this year, and that it is expecting to end the year retaining that amount. Last year, the company was able to achieve $695 million in revenue with 465 employees working for the company. Hulu was able to hire 260 additional employees throughout this year since revenue has grown so large.
Hulu is set to end the year with 488 content providers, 2,900 television series, 68,000 hours of video available on both Hulu and Hulu Plus, and 86,000 television episodes.