With a monthly subscription cost of under $7 and an extensive library of on-demand content from renowned networks, it’s easy to see why Hulu is such a popular streaming service!
Majority-owned by The Walt Disney Company, Hulu is extending its reach under the entertainment giant’s control. But can the Hulu growth only be explained through its connection to Disney?
Let’s explore some Hulu statistics to fully understand this American streaming service success story.
Fascinating Hulu Statistics 2023
Listed below are some of the most impressive Hulu stats and facts:
- Hulu counts 45.3 paid million subscribers.
- The number of viewers is nearly 100 million.
- Approximately two-thirds of customers remain with Hulu after six months.
- Over 60% of Hulu users watch content with ads.
- Hulu’s library contains over 70,000 TV episodes and movies.
- Millennials account for 37% of Hulu subscribers.
Now, let’s dive into the details!
General Hulu Facts 2023
Perhaps, one of the most significant Hulu facts to remember is that the company differentiates between the number of paid users and the total number of viewers. This is important not just for the Hulu profit strategy but also for those of us who want to grasp the platform’s actual reach.
Hulu memberships are also slightly different from some of its main competitors, such as Netflix.
The following stats will reveal more about this unique business model.
1. Hulu has 45.3 million paid users in the US.
Hulu is an American streaming service available only to US-based customers. As last reported in February 2022, it has 45.3 million users across the States, divided between various accounts.
The cheapest subscription is ad-supported and costs $6.99 per month. For $69.99 per month, users get additional content from Live TV now, Disney+, and ESPN+, but still watch ads. Ad-free plans cost $12.99 per month and $75.99 per month for the premium bundle.
2. Hulu’s viewer base counts almost 100 million people.
It’s important to differentiate Hulu memberships from the total Hulu viewership. Memberships are paid-for accounts. Yet one account can be shared by several members of the same household, who count as viewers.
Between 2018 and 2020, the Hulu number of users increased by over 37 million. And as of 2021, the service had an estimated total viewership of 99.7 million. The company is expected to reach over 115 million viewers by 2024.
3. Hulu’s library contains over 70,000 TV episodes and movies.
Hulu’s content library has changed since Disney bought a 67% stake in Hulu in 2019. Although Comcast will hold onto its 33% share and stream its NBCUniversal programs until 2024, Disney already has full operational control of Hulu.
Currently, Hulu plays over 70,000 movies and episodes of different shows, including Hulu originals and content from renowned networks like NBCUniversal, ABC, Fox, Disney, Discovery Networks, HBO, and more.
4. Almost two-thirds of customers remain with Hulu after six months.
(Bloomberg Second Measure)
Hulu has one of the highest subscriber retention rates, with almost two-thirds of customers staying with the platform after six months.
According to Hulu stats from 2021, the platform’s ad-free plans had a six-month retention rate of 65%, while the ad-supported tiers kept 63% of subscribers.
5. Almost 60% of users watch Hulu content with ads.
At the end of 2021, 59% of Hulu subscribers watched content with ads.
With its unique ad-supported and ad-free content segmentation, Hulu can appeal to users from various economic backgrounds. Due to its high number of advertisers, the platform can facilitate Hulu subscriber growth by offering cost-effective ad-supported memberships.
Hulu Revenue Stats 2023
Unlike many other subscription video-on-demand (SVOD) services, Hulu generates its annual revenue through ad sales and subscriptions.
Hulu financials are readily available, helping to better understand the SVOD platform revenue streams.
6. Hulu revenue from advertising is estimated to reach $2.7 billion in 2021.
Advertising plays a huge role in maintaining Hulu’s stream of revenue and allowing access at a lower cost for subscribers.
Official Hulu information regarding 2021 ad revenue has not been released yet. But estimates point to YoY growth of approximately 25% to a total of $2.7 billion. And according to eMarketer, Hulu’s ad revenue will reach $3.13 billion in 2022.
7. Hulu revenues from subscriptions accounted for almost 66% of the 2020’total.
(Business of apps)
Hulu’s subscription-generated revenue accounted for 65.9% of 2020’s total, or $2.9 billion. Comparatively, subscription revenue made up 54% of Hulu’s total revenue in 2019.
In December 2020, Hulu raised its Hulu Live TV+ SVOD service prices. This, coupled with an increase in the number of subscribers, is expected to boost the platform’s subscription revenue growth further.
8. Hulu Live TV revenue grew 18% in 2021.
Hulu + Live TV plan costs $69.99 per month ($75.99/month ad-free) and includes valuable add-on features designed to drive revenues further. The add-on system accounts for a substantial part of Hulu’s profits.
In 2021, the average Hulu subscriber generated $12.75 a month, while the Live TV user generated $84.89 a month. This represented a 1% and 18% increase, respectively.
9. The 2022 Hulu net worth is $16 billion.
The total Hulu valuation is expected to reach $27.5 billion by 2024. But as of April 2022, the net worth is approximately $16 billion.
The company expects to expand its subscriptions abroad and increase ad revenues to meet its business goals. The expansion strategy could also encourage Hulu to grow beyond the typical Hulu target audience.
Hulu Market Share 2023
While Hulu stats show a drop in market share in 2020, don’t be too quick to judge without all the information regarding mergers and market segmentation.
10. The 2021 Hulu market share for on-demand video service was 13%.
According to Hulu statistics, the company’s market share for SVOD was 13% in the third quarter of 2021.
Hulu comes fourth in the list of SVOD providers, after Netflix (27%), Amazon Prime Video (21%), and Disney+ (14%). However, Hulu is not a single player anymore…
11. Hulu and Disney+ made up 27% of SVOD services in 2021.
As mentioned, Disney took over Hulu in 2019, and many subscribers now access Hulu through their existing Disney subscription. Consequently, when it comes to comparing streaming services, it becomes essential to combine Hulu with all Disney subscriptions.
Hulu and Disney+ accounted for 27% of the market as of 2021, matching Netflix’s share.
12. Hulu’s market share dropped 3% in 2020.
Between 2019 and 2020, Hulu’s market share declined from 16% to 13%.
However, it isn’t a fair representation of Hulu’s market position. The platform has accrued advertising and subscriptions since 2019, continuing its steady development in a highly competitive environment. New entrants, such as NBCUniversal’s Peacock, Paramount+, and HBO Max took a fair share right after their launch in 2020.
13. Hulu subscriber numbers are set to reach 65 million by 2024.
Hulu intends to grow further with the goal to reach 65 million subscribers by 2024. This will support the expansion cost to different countries as well as help achieve the forecast valuation objective for 2024.
Hulu Demographics 2023
Hulu’s demographic pattern is similar to some of the biggest streaming competitors in the US. Let’s see how!
14. Over half of Hulu users are female.
Approximately 52% of subscribers on Hulu are women, showing a fairly balanced picture when it comes to genders. Netflix is the only other platform where male and female viewers are practically equally balanced.
15. 57% of Americans aged 18 to 34 are Hulu subscribers.
According to a 2021 survey, over half of 18 to 34-year-old Americans have Hulu subscriptions. For comparison, just 22% of the people in the 65+ age bracket used the streaming service.
16. Millennials account for 37% of Hulu’s audience.
Almost 4 in 10 Hulu subscribers are Millennials. Generation X follows, accounting for 27% of the platform’s user base. Baby Boomers and Generation Z represent smaller shares of the Hulu audience – 17% and 19%, respectively.
17. 64% of Hulu subscribers are white.
Hulu demographics show over 6 in 10 subscribers are white. Among subscription-based platforms in the US, this is one of the lowest shares of white viewers. However, it also highlights potential challenges in the Hulu target market strategy, which involves international expansion.
Hulu is a one-of-its-kind subscription platform that is dedicated to revenue growth through subscriber numbers and advertising placement. As a result, it’s important to consider market share and subscriber volume with a pinch of salt as they do not tell the whole story.
It makes no doubt that Hulu statistics paint a complex picture of a growing and evolving platform. We can expect changes to come as Disney focuses on content and expansion investments in the next few years.
With a predominantly white and young audience group, it will be crucial for Hulu to diversify its content base to reach out to new users and new advertisers. Survival in the next 5 to 10 years may depend on content diversification.