Hulu has revealed how much money it will bring in this year, Advertising Age reports.
According to the article, "The company will earn $240 million in revenue in 2010, he said, up from $108 million in 2009. That tracks pretty closely with Hulu’s audience growth and the increase in online video ad spending. Video ad spending is expected to grow 48.1% to $1.5 billion between 2009 and 2010, according eMarketer,"
What is most impressive about the numbers, Ad Age says, is that "Hulu only keeps a fraction of it — somewhere between 20% and 30% — and passes the rest on to the networks that provide content and to other distribution partners. Still, Hulu’s revenue compares pretty well to YouTube’s expected $500 million in 2010 revenue; YouTube serves many more videos, but gets most of its revenue from banner ads on its homepage, ad units that Hulu doesn’t offer. Among other things, Hulu said it is doing business with 352 different advertisers and 25 of the top 25 marketers."
The article also notes that "Reuters reported last month that Hulu is preparing to raise as much as $300 million in an initial public offering likely to be led by Morgan Stanley. The deal would value the company at $2 billion."
Ad Age says that Hulu CEO Jason Kilar revelaed the financial informaton at GigaOm’s NewTeeVee Live conference on Wednesday, Nov. 10, 2010.