Hulu on pace to have more than 1 million subscribers

By @ibtimes on

Internet video company Hulu is on track to nearly double its revenue to $500 million and bring its subscriber count to more than 1 million this year, its top executive wrote in a blog post on Monday.

Hulu Chief Executive Officer Jason Kilar also said the content community would earn about $300 million over the course of 2011.

As a young company, we're excited about that number and we also expect it to grow aggressively in the years to come, Kilar wrote.

Hulu, which is 3 years old, is jointly owned by Comcast Corp's NBC, News Corp, Walt Disney and Providence Equity Partners.

Last November, Hulu officially rolled out a subscription service called Hulu Plus, knocking down the monthly fee to $7.99 from the preview price of $9.99.

The online service, which includes current hit TV shows like Glee, 30 Rock and Modern Family, faces stiff competition from the likes of Netflix, Amazon, Apple and Google.

In 2010, Hulu made $263 million in revenue.

(Reporting by Jennifer Saba; Editing by Lisa Von Ahn)

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