[credit provider=”Business Insider”]
As we wrote yesterday, Hulu released its numbers for 2012.The big one, $420 million in revenue, sounds pretty good at first.
But then you look back on that blog post in April, when CEO Jason Kilar wrote that Hulu was on pace to generate $500 million in revenue.
Even though Hulu beat its other major projection — 1.5 million subscribers instead of 1 million — that’s a 16% miss in revenue, though it’s a 60% growth from 2010.
Kilar pinned the troubles on soft ad sales in the second half of 2011.
Hulu makes a big deal about its dual business plan, which is based on selling both premium video content and premium video advertising. Clearly, those ad sales are still a major part of the business, even with 1.5 million paying subscribers.