Online video streaming site Hulu may be up for sale, but that doesn’t mean its business is slowing down. Their paid subscription service Hulu Plus is growing at a rapid pace. A new post on the Hulu blog by CEO Jason Kilar shows that Hulu is bringing in more business than ever with their Hulu Plus service, and are on the verge of reaching 1 million paid subscribers in the very near future. At $7.99 per month a pop, that’s not too shabby.
In his post, Kilar says, “The slope of Hulu Plus’ subscriber ramp is higher than we previously forecasted. We just closed our biggest month in the Hulu Plus paid subscriber net additions by a healthy margin; we added more paying subscribers in June than we did in April and May combined.” You can see the month-to-month numbers of Hulu paid subscribers in the chart below.
As you can see from the chart, Hulu Plus is well on their way to hitting the 1 million subscriber mark. In fact, according to Kilar, “We already have over a million when including those in a one-week free trial period.” If growth continues on the same track as illustrated in the chart, the site should reach the official 1 million mark in the coming weeks.
Another interesting fact pointed out in Kilar’s post is that Hulu pays approximately $8 per subscriber to content owners, to keep content on the site. Hulu generates additional revenue through advertising. It makes the $7.99 per month fee for the service seem pretty reasonable, eh?
Kilar also points out that since November 2010, “the number of total hours of content on the service has grown 67% from 9,000 to 15,000. The total number of full episodes on the service has grown 115% from 13,000 to 28,000. The number of TV series on the service has grown 129% from 950 to 2,180…[and] the number of movies has grown 222% from 450 to 1,450.” Seems like a pretty good way to spend your summer vacation, if you ask me, which may account for the sudden jump in subscribers over the past month.
Are you surprised by the number of Hulu Plus paid subscribers? Do you pay for Hulu Plus?
Megan O’Neill is the resident web video enthusiast here at Social Times. Megan covers everything from the latest viral videos to online video news and tips, and has a passion for bizarre, original and revolutionary content and ideas.