Hulu Now Has More Than 1 Million Paying Subscribers

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Hulu reached a major milestone on Thursday announcing that they have managed to pull in 1 million pay subscribers at a time when the site is currently up for sale to the highest bidder.

The announcement comes ahead of schedule with Hulu CEO Jason Kilar previously suggesting that the site would reach 1 million visitors by the end of 2011.

The company now plans to convert more of their 40 million users to their paying service at a time when Netflix continues to bleed out their user base due to changes to their pricing structure, which ironically costs the same $7.99 as the Hulu Plus service.

With the announcement Reuters has revealed that Kilar plans to invest $375 million in 2011 in the hopes to boost the company’s profile when compared to fellow competitors Netflix and Amazon.

The company’s growing payer base is thanks in large part to their expansion efforts across various devices including the iPad, iPhone, Android devices, connected TVs, Blu-ray players and set-top boxes including the Roku Media Player.

Hulu also launched in Japan in early September, a move meant to help grow their service internationally.

As someone who just ditched their cable service for a more on-demand offering I can definitely see the allure of the Hulu Plus system.