Video streaming service Hulu has reportedly topped five million subscribers and will reach $1 billion in revenue by the end of 2013, as the company competes with a host of other rival companies.
Video streaming service Hulu continues to grind away in an increasingly competitive market, as the company surpassed 5 million subscribers and is expected to reach $1 billion in revenue by the end of the year.
Hulu Plus is available for $7.99 per month, which is the same price as the Netflix streaming service.
“Earlier this year, we reached 5 million subscribers,” noted Mike Hopkins, Hulu CEO, in a blog post. “Roughly 50 percent of those subscribers are now streaming exclusively on devices, with living room viewing accounting for over half of all content consumption on the service.”
Hulu and Hulu Plus now provide subscribers with almost 500 partners, 2,900 TV series, 86,000 TV episodes, and more than 68,000 hours of video. Earlier in the year, analysts believed Hulu Plus would reach 6 million subscribers by the end of 2013 – and while that number won’t be matched – Hulu has done an admirable job competing with Netflix.
Hulu Plus is available to more than 400 million Internet-connected devices in the United States alone, as the service is now available on new devices, including Microsoft Xbox One, Sony PlayStation 4, and Google Chromecast. The company also claimed success with its original content, as shows such as “The Awesomes,” “The Wrong Mans,” and “Behind the Mask” continually rank in the top 10 watched content each week.
There is a high level of competition in the online video market, with Hulu battling Netflix – and with Time Warner, Comcast, and other cable providers also promoting streaming content, consumers have a wide selection of different TV shows, movies, and premium content.