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Hulu to double revenue to $240M-plus this year

Hulu to double revenue to $240M-plus this year

November 11th, 2010 in News

LOS ANGELES (AP) - Online video site Hulu is on pace to generate more than $240 million in revenue this year, more than double the $108 million it made a year ago.

Chief Executive Jason Kilar announced the figure at the NewTeeVee conference in San Francisco on Wednesday.

He also said the company attracted 352 advertisers in the last three months, including all of the country's top 25.

The announcement comes about five months after Hulu launched a $10-per-month subscription plan called Hulu Plus, which allows consumers to watch entire back seasons of shows from NBC, Fox and ABC such as "30 Rock," "Glee," and "Modern Family."

Hulu is jointly owned by General Electric Co.'s NBC Universal, News Corp., The Walt Disney Co. and Providence Equity Partners.