18 Hulu Statistics - Everything You Need to Know in 2024

Hulu’s subscription cost of under $6.99 dollar and extensive on-demand content library have made it become a sought-after streaming service.  In 2023, a Walt Disney Company report revealed that Hulu's subscription base grew from 46.2 million to 48.3 million. With increasing demand for quality online streaming services, this platform is expected to grow bigger in the coming years. 

The streaming platform’s association with the Walt Disney Company has enabled it to tap larger audience and resources. In this article, you’ll get a deeper insight into how much Hulu as a platform is growing by knowing the statistics related to its:

• Revenue
• Market share
• Demographics

Let’s begin!

How Many People Use Hulu

As of 2023, Hulu has 48.3 million paying subscribers, a 40x increase from 2011. This rapid growth is mainly attributed to the Walt Disney Company’s acquisition of the platform in 2017. 

In the next section, learn more about Hulu’s revenue, market share, and demographics with these figures. 

General Hulu Facts

One of the most significant facts to remember is that the company differentiates between the number of paid users and the total number of viewers. This is important for the Hulu profit strategy and those who want to grasp the platform’s reach. 

Hulu memberships differ slightly from some of its main competitors, such as Netflix. The following stats will reveal more about its 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)

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.

Here’s a quick overview of the subscription cost offered by Hulu:

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

(eMarketer)

As of 2021, the service had an estimated total viewership of 99.7 million. 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.

The streaming platform plays over 70,000 movies and episodes of different shows, including Hulu original content from renowned networks like: 

• NBCUniversal
• ABC
• Fox
• Disney
• Discovery Networks
• HBO

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)

59% of Hulu subscribers watched content with ads in 2021. With its unique ad-supported and ad-free content segmentation, Hulu appeals to users from various economic backgrounds. The large number of advertisers on the platform also enables it to expand offerings to members cost-effectively. 

Hulu Revenue Statistics

Unlike many other subscription video-on-demand (SVOD) services, Hulu generates its annual revenue through ad sales and subscriptions. Look at Hulu’s financials 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, 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 revenue stream and allowing subscribers access at a lower cost. 

8. Hulu revenues from subscriptions accounted for almost 66% of the 2020 total. 

(Business of apps)

Hulu’s subscription-generated revenue was $2.9 billion, which is 65.9% of 2020’s total. Comparatively, subscriptions comprised 54% of Hulu’s total revenue in 2019.

In December 2020, Hulu raised its Hulu Live TV+ SVOD service prices. This and increased subscribers are 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 monthly, while the Live TV user generated $84.89 monthly. 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, the platform still intends to grow its subscriber numbers and expand its reach to different countries.

Check out these stats to discover Hulu’s expansion goals:

11. Hulu holds 11% of the streaming service market, down 2% from its 2020 market share.

(TV Technology, Media Play News, The Wrap)

The company’s market share for SVOD was 13% in the third quarter of 2021, and is now down to 11%. The top five SVOD providers currently are: 

• Amazon Prime Video (21%)
• Netflix (20%)
• Disney+ (15%)
• HBO Max (14%)
• 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.  The Walt Disney Company owns Hulu and Disney+. When comparing streaming services, combining Hulu with all Disney subscriptions becomes essential.

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

(Next TV)

Hulu intends to grow further to reach 65 million subscribers by 2024. This will support the expansion cost to different countries and 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. Like other streaming platforms, Hulu has a well-balanced number of male and female subscribers. Also, the platform’s services are accessible to people with different ranges of income.

Learn more about the demographics of Hulu’s users through the stats below:

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

(Morning Consult)

Majority of Hulu subscribers are aged 42 years old and below. Among them, 37% are millennials, and 17% are Generation Z. This shows how Hulu is popular with the younger generation. In comparison, the older generation accounts for 46% of its subscribers, where 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 of gender. Compared to Netflix, where male and female viewers are 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 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 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 advertisers. Survival in the next 5 to 10 years may depend on content diversification.