The video sharing site announced Wednesday at an event in San Francisco that it is on pace to generate more than $240 million in revenue this year. That is more than double the mark the company hit in 2009.
Still Hulu officials are weary of talking about profitability but it is only a matter of time if the website, that allows users to stream shows from NBC, ABC and Fox, continues to grow at its current pace.
Hulu said despite adding a s $10 monthly subscription service for more features on its site, the backbone of its revenue uptick was advertising. The company managed to draw 352 advertiser in the third financial quarter, including the top 25 sellers in the country.
Apple and Google must be taking notes on the success of Hulu and Redwood City-based Netflix. Both the tech giants launched their own take on streaming television, with Apple signing several major networks to its newly revamped Apple TV product.