Hulu Earned $695 Million in Revenue, Doubled Subscribers In 2012

Hulu is ending 2012 on a festive note. The video-streaming site generated $695 million in revenue for the year, according to a blog post from CEO Jason Kilar earlier this week.

The increased revenue is mostly helped by the fact that Hulu Plus subscriptions have doubled in the past year, and Killar adds that it has now reached the 3 million subscriber mark.

Summarizing the year-end results, Killar wrote: “At Hulu, we are doubly fortunate in that we are at the crest of two massive waves that we believe will persist for the long term: the rise of online video advertising and the rise of online video subscription services.”

With streaming content increasing in popularity, 2012 has been a very good year for sites like Hulu Plus and Netflix. Both sites have apps on major gaming devices like Xbox 360 and Playstation 3 and have signed exclusive content deals with Nickelodeon and the Walt Disney Company.

But growing demand for streaming video means that Hulu and Netflix will also have to increase their offerings just like cable and satellite companies do with their hundreds of niche channels and live programming. In turn, this could mean higher prices in the future, according to Wayne Friedman of Media Post. So expect that $8 a month deal for unlimited streaming to be over soon.

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