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Hulu Brings In $420 Million In Revenue In 2011
When is $80 million not enough? When you are a CEO who predicts a half a billion dollar performance only to fall short by that amount.
This is the case with Hulu, whose CEO predicted back in March 2011 that the streaming video content provider was on track to break the $500 million mark for the financial year ending 2011. Well, Hulu fell short and only made $480 million in revenues. But Hulu CEO, Jason Kilar isn’t the least disappointed because according to him, “We grew the business 60% from 2010 to approximately $420 million in revenue. We exceeded our plan despite the soft advertising market (economy) in the second half of 2011. Overall the Hulu ad business grew aggressively and Hulu Plus materially exceeded our plan.”
When you look at things from Kilar’s perspective, you sort of begin to see the logic behind Hulu’s glee. After all, most online streaming content providers aren’t doing anywhere near $420 million in revenues.
Helping Hulu to fill the coffers are the reported 1.5 million subscribers to Hulu’s premier offering, Hulu Plus. These subscribers pay $7.99 per month for a service that sees them streaming their favorite prime movies and TV shows. According to Kilar, this service gets a steady increase in numbers each day, and the prediction is that by the end of 2012, predicted revenues will fall on target.
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