Hulu is projected to hit the $1 billion revenue mark in 2013, a first for the company, CEO Mike Hopkins wrote in a blog post on Wednesday.
The company relies on a mix of advertising and subscribers for its income, both of which have continued to climb, according to Hulu. The company broke through 5 million paid subscriptions earlier in 2013 and now counts more than 1,000 advertisers on its site.
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To put these numbers in perspective, Netflix revenue for the third quarter alone came in at $1.1 billion, although its streaming service does not offer any free content or show ads. While smaller than Netflix, Hulu's revenue is growing at a fast pace: The company's revenue in 2012 was $695 million, meaning revenue increased by 44% year-over-year.
The company did not disclose any costs, meaning it's not possible to determine how much — if any — profit the company has turned.
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