Hulu Announces Closing In On 12 Million Subscriber Mark

Hulu is expected to reach its 12 million subscriber mark this month. The streaming video service has already announced the new figures on Wednesday, before the company's annual presentation to advertisers. Last year, Hulu nearly closed in on their 9 million subscriber mark.

The company claims to have experienced a 50% growth in subscriber base since 2014, and recently, it talked about a 30% increase in subscribers' year over year. Although it streams a few TV episodes without any charge, Hulu has focused on the option of $8 per month subscription, while selling the other option of a $12 per month commercial-free subscription, according to The Verge.

Hulu's CEO Mike Hopkins announced another subscription option - a bundle of cable-like channels that is expected to cost $40 per month.  Hopkins discussed this plan during the advertisers' event, adding that he plans to begin selling this bundle in early 2017. However, in order to push through with this plan, it needs first to get the rights to channels from the business firms that are in control of Hulu, such as Disney, Comcast and the 21st Century Fox, including from the other big channel's owners.

But according to some critics, Hulu may be disruptive due to its extensive brand recognition as well as the support of its mother companies. A few analysts also said that the company's plans appear to be a declaration of war versus the old TV providers.

Hopkins, on the other hand, denied the allegations, saying that it is not an act of declaring war against anyone, and that they are designing this for those that appear to be breaking away from the pay TV. According to Hopkins, they only wish to create this product for them.

Hulu is also promoting a number of new shows, like the drama called "The Path" which was released in March, and has ordered the second season of the TV series, LA Times reported.