According to a blog post from Hulu CEO Jason Kilar, the video service earned $695 million in revenue in 2012. Additionally, Hulu Plus saw a 50 percent increase in paying subscribers, passing the three million mark.
By comparison, Hulu’s 2011 numbers included $400 million in revenue and less than 1.5 million Hulu Plus subscribers.

During the past year, Hulu invested more than $500 million in new content and served more advertisers than ever before. Hulu has expanded its content 40 percent and now offers 60,000 TV episodes, 2,300 TV series, and 50,000 hours of video.

“Last time around, Kilar predicted that Hulu Plus would amount for more than 50 percent of Hulu’s revenue in 2012,” notes GigaOM. “He didn’t mention that goal in this post, but we’ve been hearing that the company safely crossed that mark, meaning that Hulu is now first and foremost a subscription service that also has a healthy ad business.”

Kilar emphasized this point in his post: “At Hulu, we are doubly fortunate in that we are at the crest of two massive waves that we believe will persist for the long term: the rise of online video advertising and the rise of online video subscription services.”