Andre Yoskowitz
12 Jan 2012 20:11
Hulu has posted their results for 2011, and it appears the streaming site's strong growth has continued.
CEO Jason Kilar says revenue grew 60 percent from $240 million to $420 million, although the company had internal projections of $500 million.
Hulu Plus now has over 1.5 million paying subscribers who pay $7.99 per month to have mobile access to Hulu's complete catalog of content. Users can watch back episodes of shows like Family Guy and 30 Rock on hundreds of devices, with minor ads.
More than double the amount of subscribers are signing up per day that were in 2010, adds Kilar.
Additionally, Hulu's content grew 40 percent year-over-year and Hulu Plus' content grew 105 percent in the same period.
Kilar concludes that the company will invest approximately $500 million in content in 2012.