Hulu Plus grows to more than 1.5 million subscribers

Hulu Plus boasts signing on at least 1.5 million paid subscribers "faster than any video subscription service launch (online or offline) in U.S. history."

While Netflix might have imploded during the second half of 2011, executives over at its rival company, Hulu, seem to be pretty pleased.

Although the subscriber base is still well below that of Netflix with close to 25 million paying members, Hulu Plus now has more than 1.5 million paying subscribers,

Hulu CEO Jason Kilar boasted in a blog post that Hulu Plus reached this mark "faster than any video subscription service launch (online or offline) in U.S. history."

Hulu Plus debuted during the summer of 2012 as a paid service for access to more content of current hit shows, among other programming. Although there was debate as to how well Hulu could make the shift from completely free to charging a monthly fee, it would seem that Hulu Plus sustained itself well enough.

Kilar also added that Hulu Plus is attracting double the number of subscribers each day compared to the same time last year.

In terms of revenue, growth is also strong as business grew by 60 percent since 2010 to approximately $420 million in revenue by the end of 2011, which can be seen depicted quite boldly in the side graph.

Part of why Hulu Plus is attracting more subscribers is probably because Hulu's digital library has also grown significantly -- by 40 percent for general Hulu content and by 105 percent for Hulu Plus.

[Graph via Hulu]