Hulu chief heading for the door

Jan 04, 2013
Jason Kilar, top executive of popular video-streaming service Hulu, speaks at the International Consumer Electronics Show in Las Vegas on January 6, 2011. Kilar said Friday that he and the company's chief technology officer will leave the company by April.

The top executive of popular video-streaming service Hulu said Friday that he and the company's chief technology officer will leave the company by April.

"My decision to depart has been one of the toughest I've ever made," Hulu chief executive Jason Kilar said in a post on the company's website.

"I am currently working with the Board to ensure there is ample runway to manage this transition."

Hulu CTO Rich Tom will exit along a similar timeline, according to Kilar.

"Rich and I have been fortunate to build and innovate alongside each other these past 5-plus years and our plan is to do more of that on the road ahead," Kilar said.

Kilar described his Hulu journey, beginning with a move to California and a walk into an empty office suite in July of 2007.

"We have grown from a few hundred thousand in revenue in 2007 to generating almost $700 million in revenue in 2012 alone," he said.

"We have created a video subscription service that is growing unusually fast, adding over 200K new subscribers in the past seven days alone (a new record)."

Last year, Hulu owners decided against selling despite the reported interest of heavy hitters including Apple, Yahoo!, Google and Microsoft.

News Corp, Disney and the private equity firm Providence Equity Partners announced in a joint statement in October that they would hang onto the site, which streams free television episodes with ads.

NBC Universal, another owner, was not named in the statement.

Founded in 2007, Hulu lets users watch a selection of television shows and movies streamed onto their computers for free with advertisements.

Subscribers can also pay a fee to watch on connected televisions, gaming consoles, and mobile devices, including Apple's iPhone and iPad.

Last year Hulu began streaming movies and television shows in Japan in its first foray outside the United States.

Explore further: Amazon loss widens despite climbing sales

add to favorites email to friend print save as pdf

Related Stories

Hulu sees 1M paying subscribers by end of summer

Jul 07, 2011

(AP) -- Online video service Hulu expects to have more than a million paying subscribers by the end of summer, several months earlier than forecast, its chief executive said in a blog post Wednesday.

Hulu mulls putting itself up for sale

Jun 22, 2011

(AP) -- Online video service Hulu is exploring putting itself up for sale after receiving an unsolicited takeover offer, people familiar with the matter said Tuesday.

Hulu launches $10 video subscription service

Jun 29, 2010

(AP) -- Online video site Hulu, under pressure from its media company parents to generate a bigger profit, launched a subscription service Tuesday with complete access to back episodes of popular television ...

No IPO for Hulu for now: report

Dec 21, 2010

US online video entertainment site Hulu has decided not to go public for now and may examine other financing options, The Wall Street Journal reported late Monday.

Recommended for you

Nokia profits rise after sale of handset division

13 hours ago

(AP)—Telecommunications and wireless equipment maker Nokia Corp. saw its shares surge on Thursday after it reported higher profits and an improved earnings outlook in the wake of its sale to Microsoft of its troubled handset ...

Swiss drug maker Roche posts 7 percent profit drop

16 hours ago

(AP)—Swiss drugmaker Roche Holding AG on Thursday posted a net profit drop of 7 percent compared with a year ago, weighed down by a strong Swiss franc and charges from one of its diagnostic units.

Cheaper wireless plans cut into AT&T 2Q profit

Jul 23, 2014

(AP)—AT&T Inc. on Wednesday posted lower net income for the latest quarter due to cheaper cellphone plans it introduced as a response to aggressive pricing from smaller competitor T-Mobile US.

User comments : 0