Hulu Plus Rides the Streaming Wave to 2 Million Paying Subscribers

Online streaming video site Hulu is expected to announce that it has 2 million subscribers for its premium Hulu Plus service, The New York Times reports. Hulu Plus runs $8 per month and is available on a wide range of devices, most recently having been added as an app to the Xbox 360 console.

That figure represents 500,000 more subscribers than what Hulu Plus had at the end of 2011. There's no single reason for Hulu's rapid growth, and instead a variety of factors deserve credit. Launching on the Xbox 360 no doubt helped push Hulu Plus to more people, but it's also worth mentioning that Hulu recently launched an original series called Battleground.

Hulu's future, however, may depend on the company's ability to keep big media outlets on board with what it's doing, especially as Hulu begins to cannibalize cable TV.

"The bulk of our business is working with those big media companies, and they're going to make choices based on how they see the whole ecosystem evolving," Andy Forsell, Hulu's senior VP of content, told NYT.

There's a lot at stake here. Hulu said it expects Hulu Plus subscriptions to make up more than half of its total revenue in 2012.