Hulu to total $1 billion in revenue in 2013

Hulu has announced that it will reach $1 billion in revenue in 2013, up from just under $7 million on the previous year.

Earlier this year, the online video service reached five million subscribers. Approximately 50% of these are now streaming exclusively on connected devices, with over half of all content consumption happening in the living room.

In 2013, Hulu and Hulu Plus offered programming from more than 488 content partners, ultimately providing over 86,000 TV episodes, almost 3,000 series and 68,000 hours of video. The service also launched more than 20 original programmes and has said that it plans to double that number over the next few years.

Over the course of the year, Hulu saw its advertising roster increase 15%, with viewers streaming more than 1 billion content videos in each quarter at approximately 50 minutes per session.

“As we scale the business in 2014, we will continue to invest in content, technology and people,” said Hulu’s CEO, Mike Hopkins.

“2014 will bring even more opportunity as we find new ways to grow the business from the strong foundation we have built.”