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Tag: andy forssell

  • Hulu Touts 4 Million Hulu Plus Subscribers, Revenue and Streaming Records in Q1

    Hulu Touts 4 Million Hulu Plus Subscribers, Revenue and Streaming Records in Q1

    According to acting CEO Andy Forssell, Hulu is had a hell of a start to 2013.

    In a blog post, Forssell says that Hulu set a new record for revenue in Q1, and that for the first time ever, Hulu users streamed over 1 billion videos in a single quarter. Coming of a year when subscription to Hulu Plus doubled, Forssell says that Hulu’s premium service topped 4 million subscribers in Q1.

    Forsell also has this to say about where Hulu users are streaming content:

    “Mobile viewing is growing at a significant rate and will account for approximately 15% of Hulu’s consumed videos in 2013-2014. For context, mobile viewing was nonexistent on our service only two years ago. Living room viewing is also growing; it currently accounts for 29% of Hulu’s content consumption, and 80% of Hulu Plus subscribers have watched with someone else.”

    With stats out of the way, Forssell went on to announce two new Hulu original series, Quick Draw and East Los High. The former is “a comedic half-hour western set in 1875 that centers on a Harvard-educated sheriff and his quest to introduce the emerging science of forensics to an unruly Kansas town,” while the latter is an all-Latino cast English language drama set in an inner city high school.

    These new series joins nearly a dozen Hulu exclusive series heading to the service this summer. Also, Hulu just launched new seasons of All My Children and One Life to Live.

    Of course, much of this patting itself on the pack is a direct pitch to advertisers. Mainly, “Look! We have 4 million Hulu Plus subscribers who are paying to see your ads!”

    “Our advertising mission is to be the world’s most effective video advertising service, and we are well on our way. According to comScore, Hulu is #1 in engagement among top ad supported sites. Hulu viewers stay with us for 45 minutes per session—without fast-forwarding or skipping ads. Hulu is also #1 in market share of all premium online video providers, delivering 1 in 3 of all premium video ads in the U.S. Our reasonable ad load drives the highest recall and awareness for brands, which results in higher effectiveness for the video ads,” says Forssell.

    But it’s a strong pitch, especially for a company that is in a highly-competitive industry. The streaming video sector is booming, and Hulu is staying above the fray and setting records.

  • Hulu Taps SVP of Content Andy Forssell to Replace Jason Kilar as CEO

    Hulu Taps SVP of Content Andy Forssell to Replace Jason Kilar as CEO

    Back in January, Hulu CEO Jason Kilar announced that he would be stepping down at the end of Q1. And as that time fast approaches, Hulu has finally announced who will replace him when he leaves.

    According to Kilar, Andy Forssell will be tapped as acting CEO when he steps down at the end of March.

    Forssell is currently the Senior Vice President of Content at the company who signed on in 2007.

    “In his time at Hulu, Andy has accelerated the growth of the content business from just two content providers in 2007 to more than 410 today, and has led the expansion into original programming. Andy brought to Hulu more than a decade of experience at Siebel Systems and Oracle Corporation where he served in a number of leadership roles including product development, customer care, datacenter operations and supplier management for their hosted CRM software-as-a-service businesses,” says Hulu’s about page.

    Kilar sent this letter to the Hulu team, and it’s been cross-posted to the Hulu blog:

    Team –

    As you all know, I will be departing Hulu at the end of this quarter. I wanted to share the news that Andy Forssell will be stepping up to lead Hulu as acting CEO after I depart later this month. You know Andy well; he’s been a critical senior executive and has been here from the start of this great adventure. Andy exemplifies the Hulu culture and has been central to Hulu’s journey, helping to grow this company from 2 content partners and no revenue to over 450 content partners and approximately $700 million revenue in 2012. In his role, Andy has built strong relationships with many of our Board members. Andy has the Board’s strong support in leading the team during this important time.

    Disney and News Corporation are currently finalizing their forward-looking plans with Hulu, and the senior team has been working closely with them in that process. Once the plans are finalized, a permanent decision will be made regarding the CEO position.

    As I mentioned to you all at the beginning of this year, Hulu’s focus remains on delivering a fantastic 2013 for customers and shareholders. Hulu is well on its way, with new records being set in Q1 across both revenue and subscriber additions. The unwavering focus on delighting Hulu’s customers is clearly showing up in the outputs of the business.

    Jason