17 Hulu Statistics - Everything You Need to Know in 2023

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

Listed below are some of the most impressive Hulu stats and facts:

• Hulu had 47.2 million paying subscribers at the end of 2022.
• The total number of Hulu viewers is over 100 million. 
• Hulu's annual revenue was valued at $10.7 billion in 2022, up from $9.6 billion in 2021.
• Hulu ad revenue is estimated to reach $4.82 billion in 2023, up from $3.89 billion in 2022.
• Hulu has a net worth of $16 billion as of early 2023.
• Hulu has a 11% market share in streaming services.
• 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.
• 54% of Hulu subscribers are under 42 years old.
• Millennials account for 37% of Hulu subscribers.

Now, let’s dive into the details!

General Hulu Facts

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 had 47.2 million subscribers at the end of 2022, up 3.4 million from the previous year.

(Statista)

The number of Hulu subscribers was 43.8 million in Q4 of 2021, up from 36.6 million in Q4 of 2020. At the end of 2019, there were 28.5 million subscribers.

Hulu Number of Subscribers (2019-2022)

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.

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.

2. Hulu is expected to reach over 115 million viewers in 2024, up from 106 million viewers in 2022.

(eMarketer)

As of 2021, the service had an estimated total viewership of 99.7 million in 2021. This is a huge increase from 57 million viewers in 2018.

Number of Hulu Viewers (2018-2024)

3. Hulu’s library contains over 70,000 TV episodes and movies. 

(Hulu)

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. 

(The Streamable)

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 Statistics

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 annual revenue reached $10.7 billion in 2022.

(Business of apps)

This revenue includes $6.3 billion from streaming services and $4.4 billion from live TV. Hulu revenue was estimated at $9.6 billion in 2021, up 33% from 2020. The company earned $7.2 billion in 2020, which is a 60% increase from $4.5 billion in 2019.

7. Hulu is expected to reach $4.82 billion in ad revenue in 2023, up 54% from 2021.

(Insider Intelligence)

Hulu's ad revenue is estimated at $3.13 billion in 2021. This is 93% more than the revenue of $1.63 billion in 2019.

Advertising plays a huge role in maintaining Hulu’s stream of revenue and allowing access at a lower cost for subscribers. 

8. 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.

9. Hulu Live TV revenue grew 18% in 2021.

(Disney)

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.

10. Hulu net worth is $16 billion.

(Wealthy Persons)

The total Hulu valuation is expected to reach $27.5 billion by 2024. But as of January 2023, 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

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. 

11. Hulu holds 11% of the streaming service market, down 2% from its market share a year earlier.

(TV Technology, Media Play News, The Wrap)

The company’s market share for SVOD was 13% in the third quarter of 2021, compared to 16% in 2019.

The top five SVOD providers currently are Amazon Prime Video (21%), Netflix (20%), Disney+ (15%), HBO Max (14%), and Hulu (11%). 

12. In 2022, Hulu and Disney+ hold 26% of the SVOD market, 6% more than Netflix.

(Media Play News, What’s On Disney Plus)

Hulu and Disney+ accounted for 27% of the market as of 2021, matching Netflix's share.  Hulu and Disney+ are owned by The Walt Disney Company. So when it comes to comparing streaming services, it becomes essential to combine Hulu with all Disney subscriptions.

13. Hulu subscriber numbers are set to reach 65 million by 2024.

(Next TV)

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

Hulu’s demographic pattern is similar to some of the biggest streaming competitors in the US. Let’s see how!

14. 54% of Hulu subscribers are under 42 years old.

(Morning Consult)

Among them, 37% are millennials and 17% are Generation Z. 46% of Hulu subscribers are over 42 years old (27% are Generation X and 19% are Baby Boomers).

15. Over half of Hulu users are female. 

(Morning Consult)

Approximately 52% of subscribers on Hulu are women, showing a fairly balanced picture when it comes to gender. Netflix is the only other platform where male and female viewers are practically equally balanced. 

16. 50% of Hulu subscribers have an annual income of less than $50,000.

(Morning Consult)

31% have an income between $50,000 and $100,000, and 19% have an income above $100,000. This data shows that Hulu services are available to people with different incomes.

17. 57% of Americans aged 18 to 34 are Hulu subscribers.

(Statista)

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.

18. 64% of Hulu subscribers are white. 

(Morning Consult)

Hulu demographics show over 6 in 10 subscribers have white ethnicity. 20% of Hulu users have Hispanic ethnicity, 13% - are Black, and 3% - are Asian or other ethnicities.

Wrap up

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.