Hulu revenue up to $240 million

Hulu has announced today that revenue has increased from $108 million in 2009 to $240 million in 2010.

This increase sits alongside a similar increase in audience growth and online video ad spending, with video ad spending expected to increase by nearly 50% from $1.5 billion between 2009 and 2010 according to eMarketer.

Hulu passes the vast majority of any revenue onto the networks which provide content, leaving the company with around 20%-30%. This still equates to a minimum of $48 million in revenue for Hulu itself.

Speaking at the GigaOm’s NewTeeVee conference, Hulu CEO Jason Kilar announced they are now doing business with 352 different advertisers and the top 25 marketers in the US.

He added that the site had 30 million users in the past month, serving 800 million video adverts.