The video website reports $420 million in revenue last year, but it is spending even
more to develop new shows, including series from Adrian Grenier and Michael
Wendschuh.
At a presentation to ad buyers Thursday, Hulu touted its growth, saying its more
than 2 million paid subscribers have made its $8-per-month video subscription
service the fastest growing in U.S. history. The company also reported $420 million
in revenue last year and expressed a commitment to original programming with new
series including The Awesomes, fromSaturday Night Live star Seth Meyers.
Hulu was the first of many online giants scheduled to roll out their content and meet
with advertisers in TV industry style upfront presentations during the next two
weeks. In a room that included Meyers,Smash star Megan Hilty, Morgan Spurlock
and Adrian Grenier, the company touted that Americans watched 2.5 billion videos
on Hulu in February — about 1,000 videos a second. Hulu also said it held 20 percent
of the online video market and 40 percent of the premium video market.