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After looking for a buyer in 2011, Hulu (NASDAQ:CMCSA) (NYSE:DIS) is singing a different tune in 2012. It is ready to spend money this year. A lot of money.
Hulu, a streaming video company that provides access to network television content, reported 2011 revenues of $420 million, according to a recent corporate blog post. This is up 60 percent from 2010, but lower than September’s $500 million estimate. Other 2011 positive news included the growth of Hulu Plus, an $8 per month unlimited option, to its 1.5 million paying customers.
CEO Jason Kilar said of the number, “Hulu Plus has reached 1.5 million paid subscribers faster than any video subscription service launch (online or offline) in U.S. history. We expect our subscription services to account for more than half of Hulu’s overall business later this year.”
From Kilar’s confidence in Hulu and its profitable dual ad-subscription revenue stream …
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