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Hulu surpasses 1 million paid subscribers

updated 10:40 pm EDT, Wed September 21, 2011

Streaming company still seeks buyer

Hulu has reportedly signed up more than a million customers willing to pay for the company's $8/month subscription. CEO Jason Kilar is said to have made a prediction early this year that Hulu Plus would fetch 1 million subscribers before the end of the year, however the executive has confirmed that the goal was reached before the end of the summer.

Speaking at a Goldman Sachs investor conference, Kilar also boasted that his company was preparing to spend over $375 million for content this year. The range of TV shows and movies is expected to continue to expand.

"I'm cautiously optimistic that we'll work with everyone over time," Kilar said, according to quotes posted by Reuters.

Despite the apparent successes, the streaming company, which is jointly owned by News Corp, Walt Disney Co, NBC Universal and Providence Equity Partners, is still attempting to find a buyer. Unconfirmed reports suggest Google is one of the potential suitors, though several other companies are said to have put up bids of up to $2 billion.



By Electronista Staff
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