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Hulu Says Revenues Will Top $1B in 2013

New CEO Hopkins Expects Original Programming to Double 12/18/2013 1:50 PM Eastern

Hulu said its revenues will reach $1 billion in 2013.

In a blog post, new Hulu CEO Mike Hopkins said the web video hub had a big year, with revenue up 43% from 2012.

“When you think about the fact that Hulu first launched out of beta in 2008, it’s quite an impressive feat to scale the business from zero to $1 billion over the course of just six years,” Hopkins said.

Hulu’s owners, the Walt Disney Co., 21st Century Fox and Comcast put the site up for sale earlier this year. They pulled Hulu off the block, citing its strategic importance and value and put Hopkins, a top Fox distribution executive in charge, replacing Jason Kilar, who launched the business.

Hopkins said that the Hulu Plus pay service now has more than 5 million subscribers and offers those subscribers more than 86,000 TV episodes, 2,900 TV series and 68,000 hours of video from 488 content partners.

In addition, Hulu plans to double the number of original shows it offers over the next few years. Original shows like The Awesomes, Behind the Mask and The Wrong Mans “performed extremely well on the service, and were among the top 10 most-watched shows on Hulu each week a new episode aired,” he said.

Hopkins also said that the number of advertisers on the site increased 15% to more than 1,000 brands.

Hulu’s staff is also growing, he said, with 260 employees added this year, bringing the total to 725.

“It’s exciting for me to see the continued growth of the business and be part of such a great team,” he said.  “As we scale the business in 2014, we will continue to invest in content, technology and people. 2014 will bring even more opportunity as we find new ways to grow the business from the strong foundation we have built. Thank you for being users and fans of Hulu–we couldn’t do it without you.”

September