Online streaming service Hulu has reached an impressive revenue milestone. Citing a blog post from Hulu Chief Executive Mike Hopkins, Bloomberg reports that the company’s revenues for 2013 will reach $1 billion.
That figure represents a 44% increase, as Hulu gains more advertisers and subscribers, the story reports. The company’s lineup of advertisers rose 15% to more than 1,000 brands, Hopkins wrote.
“It was also a record year for consumption as Hulu viewers streamed more than 1 billion content videos in each quarter, and stayed with us for approximately 50 minutes per session in Q4,” he added.
The company also reached 5 million paying subscribers earlier this year, Hopkins noted. “Roughly 50% of those subscribers are now streaming exclusively on devices, with living room viewing accounting for over half of all content consumption on the service,” he wrote.
“As we scale the business in 2014, we will continue to invest in content, technology and people. 2014 will bring even more opportunity as we find new ways to grow the business from the strong foundation we have built,” Hopkins added.