We just completed the first quarter of 2011. Given the ongoing discussion around the evolution of premium content distribution — and Hulu’s role in it — we thought it would be worthwhile to share some of our progress from the first 90 days of 2011:
- - We are on pace to approach half a billion dollars in revenue in 2011. In Q1, our revenue grew approximately 90 percent over Q1 2010. (Hulu did $263 million in revenue for all of 2010).
- - The content community will earn approximately $300 million through Hulu over the course of 2011. As a young company (we just reached our third anniversary since the public launch of Hulu.com), we’re excited about that number and we also expect it to grow aggressively in the years to come.
- - We served approximately 50 percent more advertisers in Q1 2011 than we did in Q1 2010 (specifically, 289 advertisers in Q1 2011, up from 194 in Q1 2010).
- - We grew the number of content partners to Hulu Plus and Hulu from 211 in Q1 2010 to 264 in Q1 2011, including brands from the Viacom family (MTV, Comedy Central, VH1, BET, and more).
- - Users initiated 10 percent more streams vs Q4 2010 (the 90-day period immediately prior to Q1 2011).
- - We are on track to exceed 1 million Hulu Plus subscribers in 2011 (up from 0 in 2010). To our knowledge, this is the fastest start of any online video subscription service.
- - Our Seattle office officially opened in the shadows of Pike Place Market. We’re lucky to have a number of world-class technologists, designers, and product folks leading the way in the Pacific Northwest.
- - In response to our April 1st website redesign, which paid homage to 1996, we set a new one-day record for inbound calls. Fifty-one good Samaritans immediately alerted us that we’d been hijacked/hacked/phished (we explained we intended the site to be that way). We received 26 requests to fire the team member responsible for introducing the dial-up sound that ran while videos loaded. Seven former Geocities employees sent their resumes to us.
It is still very early days for online video and our biggest opportunities/challenges are clearly still in front of us. We’re thankful for — and humbled by — the response we’ve received these past 90 days from our users, advertisers, and content partners.