OTT video provider Hulu set a new record for revenue in 1Q 2013, as viewers streamed more than 1 billion videos in a single quarter, according to a blog post from acting CEO Andy Forssell. Forssell and Hulu management offered insights into Hulu’s recent performance at the Hulu Upfront conference in New York City.
Subscriptions to Hulu Plus, the company’s ad-supported subscription service, doubled in 2012 and continued to grow rapidly in 1Q, setting new records for subscriber additions in surpassing the 4 million-subscriber mark, Forssell related.
Nonexistent just two years ago, mobile video viewing continues to grow significantly, Forssell continued. Hulu forecasts it will account for 15% of total video consumption in 2013-2014. “Living room” viewing, which accounts for 29% of content consumption, is also growing.
Forssell pointed out that Hulu ranked first in engagement among top ad-supported sites, according to comScore research results, with viewers staying on the site for an average 45 minutes per session “without fast forwarding or skipping ads.”
Hulu also ranked first in market share among premium online video providers, serving up 1 in 3 of all premium video ads in the U.S., all of which indicates that the company is on track in terms of realizing its mission “to be the world’s most effective video advertising service,” according to Forssell.
“Our reasonable ad load drives the highest recall and awareness for brands, which results in higher effectiveness for the video ads,” he commented.
Adding to the list of first-run televisions franchises Hulu is bringing to subscribers, management at Hulu Upfront announced two new exclusive shows: “Quickdraw,” a half-hour comedy-Western series, and “East Los High,” a dramatic, coming-of-age series that features “an all-Latino cast, director, writers and creators.”
At Upfront, Hulu also announced it will be streaming new daily, half-hour episodes of two of the longest running soap operas in TV history – “All My Children” and “One Life to Live.”