Hulu revenue up to $695M; 3 million subscribers

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by Associated Press

Associated Press

Posted on December 17, 2012 at 1:03 PM

Updated Monday, Dec 17 at 3:05 PM

LOS ANGELES (AP) — Online video service Hulu says revenue this year will grow about 65 percent to $695 million.

Hulu says it has more than doubled the number of subscribers who pay $8 a month for Hulu Plus. The figure now exceeds 3 million. Hulu Plus gives users a broader selection of back episodes and access over mobile devices, game consoles and Internet-connected TVs. Both free and paid versions of Hulu come with ads.

In a blog post, Hulu CEO Jason Kilar said Monday that the service has spent $500 million on content this year, boosting the number of titles it offers by 40 percent. Hulu also debuted its first scripted original series, "Battleground," this year.

Hulu is owned by the parent companies of broadcasters ABC, NBC and Fox.

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Online:

Hulu blog post: http://blog.hulu.com/2012/12/17/a-big-2012

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