Hulu Expects to Hit $1 Billion in Revenue for First Time

Hulu is projected to hit the $1 billion revenue mark in 2013, a first for the company, CEO Mike Hopkins wrote in a blog post on Wednesday

The company relies on a mix of advertising and subscribers for its income, both of which have continued to climb, according to Hulu. The company broke through 5 million paid subscriptions earlier in 2013 and now counts more than 1,000 advertisers on its site

To put these numbers in perspective, Netflix revenue for the third quarter alone came in at $1.1 billion, although its streaming service does not offer any free content or show ads. While smaller than Netflix, Hulu's revenue is growing at a fast pace: The company's revenue in 2012 was $695 million, meaning revenue increased by 44% year-over-year. Read more...