Hulu posts $420m revenue in 2011

Hulu recorded $420 million in revenue last year after growing its business 60%.

The company said its advertising and subscription based Hulu Plus, which ended 2011 with more than 1.5 million paying subscribers, is still growing aggressively.

CEO Jason Kilar said: “Hulu Plus has reached 1.5 million paid subscribers faster than any video subscription service launch (online or offline) in US history. We are attracting more than 2x the number of subscribers each day when compared to this time last year.”

Kilar added that content was the key driver for growth. The basic Hulu package’s content offering grew approximately 40% last year while Hulu Plus’ content offering grew more than 105%.

Read the full Rapid TV News article here.