Hulu has scaled their business “from zero to $1 billion” over the course of six years, CEO Mike Hopkins says in a briefing of the company’s year-end results.
The U.S. streaming service will reach $1 billion in revenue in 2013, up from $695 million the year before, Hopkins writes in a blog post that went up Wednesday.
Adding new content to the Hulu and Hulu Plus roster has been a priority – a multi-pronged effort that requires investment in “last night’s TV,” original first-run TV programming, and licensed content acquired from both within and outside the U.S. Their library now consists of shows from about 488 of the company’s partners: this includes 2,900 TV series and 68,000 hours of video.
Hulu also plans to continue to invest in original programming.
“We launched more than 20 Hulu Originals in 2013, and plan to double that number over the next few years. 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,” Hopkins writes.
The number of brands advertising on Hulu has also grown by 15% to 1,000, he says.
The network has consistently made it into comScore’s monthly Top 10 online video ad rankings over the past year. For instance, in November, more than 1.4 billion ads were viewed on the site. Notably, Hulu had the highest frequency of video ads that month with an average of 89 ads per viewer, according to the rankings.