US online TV service Hulu announced revenues of USD 420 million for 2011, up 60 percent from a year earlier. Despite a somewhat soft ad market in the second half of the year, the company's revenues were up strongly on the back of growth in Hulu Plus subscribers. These numbered 1.5 million at year-end, and are growing at twice the daily rate as a year ago, Hulu said. The company said it will continue to invest in adding more content to its service this year, spending around "half a billion" on content acquisitions.
