Online video service Hulu expects its revenue will increase by 65 percent this year when its books close, a rise attributed to more advertisers and subscribers of its Hulu Plus premium service.
Hulu, a joint venture of Walt Disney Co., NBCUniversal Television Group, Fox Broadcasting Co. and Providence Equity Partners, will bring in $695 million, according to a blog post written Tuesday on the Hulu website by Chief Executive Jason Kilar.
Revenue in 2011 was just more than $400 million. The West Los Angeles-based service has not released profit figures.
Founded in 2007, Hulu offers current and classic television series and feature films from more than 400 content providers. Its Hulu Plus subscription service provides premium programming from ABC, Comedy Central, The CW, FOX, NBC, MTV and Univision.
Hulu Plus has 3 million subscribers, doubling what the service had at the end of last year.
This year Hulu launched Hulu Kids channel on Hulu Plus, started a subscription service in Japan, streamed 25 exclusive and original series, and made new agreements with CBS and WWE, Kilar wrote in the post.
“Ours is a culture of obsessing over our customers, insisting on atypically high quality and relentlessly pursuing better ways in all that we do,” Kilar wrote. “For Hulu, culture is the input that matters most.”