Half of Hulu Plus’ 5 Million Subscribers Use Tablets and Phones ‘Exclusively’

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Hulu will reach $1 billion in revenue in 2013, CEO Mike Hopkins revealed in a blog post this morning. The figure marks a 44% increase over last year’s $695 million haul, and it’ll be the first time the video streaming company has hit ten figures in its six-year history. Hopkins, who took over as the company’s CEO this past October, did not mention what Hulu’s profits will be for the year, but they figure to be fairly improved nonetheless.

Hulu Plus Paying SubscribersAs for Hulu Plus, the company’s premium subscription service, Hopkins writes that it reached 5 million subscribers earlier this year. To put that into perspective, Netflix announced a couple months ago that it had gotten close to 30 million subscribers as of the end of last quarter — though it’s important to note that it does not offer any free streaming content like Hulu.

Devices Are Half the Market

What’s more interesting for Hulu is the way its subscribers are using Hulu Plus. Hopkins writes that “roughly 50%” of Hulu Plus users are streaming video exclusively on devices, meaning that tablets, phones, video game consoles, and set-top boxes are turning into the standard outlets for its online video viewers, as opposed to going the more traditional route and streaming through a PC.

According to Hopkins, “over half” of this viewing is going on in its subscribers’ living rooms, further suggesting that more and more people are, at least somewhat, cutting their cords in favor of online streaming. Baby steps, people.

Hulu’s had a bit of a rocky year, management-wise. Outside of the CEO change, the service was also widely reported to be up for sale by its co-owners: NBCUniversal, Disney, and 20th Century Fox. Those three parent corporations ultimately decided to take Hulu off the block this past July, and instead the company was infused with $750 million to help it grow. That growth appears to be happening now, so it’ll be interesting to see what steps Hopkins and company take from here.

Source: Hulu

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