Hulu will reach one million users this year

Jason Kilar, president of the North American Internet video streaming giant, Hulu, expects to double the company's revenue, reaching $500 million with a customer base that will exceed one million this year.

Jason Kilar, president of the North American Internet video giant, Hulu, plans to double the company's revenue, reaching $500 million with a customer base that will exceed one million this year. In 2010, Hulu made $263 million in revenue.

Kilar has announced that the company will achieve profits of around $300 million in 2011.

A subsidiary of Comcast NBC, News Corp, Walt Disney and Providence Equity Partners, Hulu offers free, ad-supported streaming of television shows and movies from NBC, FOX, and many other networks and studios. They are currently only offered to users in the United States.

Hulu offers videos in Flash Video format at a higher resolution than YouTube but lower than standard definition television, although many movies and other shows are available in 480p. Hulu also offers web services from other websites, including AOL, MSN, MySpace, Yahoo!, and Comcast's Fancast.com.

Last November, Hulu launched a subscription service called “Hulu Plus” with which it lowered the monthly rate to $7.99, entering into a tough battle in the field of IPTV with Netflix, Amazon, Apple and Google.