By Brian Stelter, CNN
Hulu might not be profitable yet, but it is about to be - in terms of annual revenue - a billion-dollar company.
The online television Web site said Wednesday that its 2013 revenue will top $1 billion, up from $695 million in 2012. Hulu is a joint venture between The Walt Disney Company, 21st Century Fox and NBCUniversal.
The increase in revenue came largely from signups for Hulu Plus, the Web site's paid subscription service. The company says it now has over 5 million paying subscribers, up from about 1.5 million at the end of 2011 and 3 million in 2012.
Hulu's reach pales in comparison to Netflix, but the results are encouraging.
"When you think about the fact that Hulu first launched out of beta in 2008, it's quite an impressive feat to scale the business from zero to $1 billion over the course of just six years," Mike Hopkins, the company's new chief executive, wrote in a blog post on Wednesday.
Read more of Brian's article here