Hulu annual revenue to hit $695 million in 2012

  • Internet streaming TV service Hulu is set to generate $695 million in revenue in 2012 and end the year with more than 3 million paying subscribers, the company's CEO announced on Monday.

    According to a blog post on the company’s website by Chief Executive Jason Kilar, Hulu’s revenue rose 65 percent in comparison to last year.

    Meanwhile, subscribers to its Hulu Plus paid service has doubled from 2011 to 3 million.

    Hulu Plus costs $7.99 a month, the same as the streaming service offered by its biggest rival, Netflix.

    Kilar added the company had invested more than $500 million in content in 2012 and offers 50,000 hours of video.

    He also said Hulu had more than 1,000 advertisers.

    A company spokeswoman declined to comment on whether the company stood to make a profit at the end of the year.