Hulu claims $500 million in revenue for 2011

US-based video streaming site Hulu will earn $500 million in revenue this year from advertising and subscription, chief executive Jason Kilar has said.

Speaking at the Internet Advertising Bureau annual leadership meeting, Kilar said the company has 627 advertisers and 250 content partners.

“Time spent versus the ad dollars spent is incredibly out of whack,” Kilar said. “But that gap will close and I believe it will close in due haste,” Kilar said.

Kilar says the internet accounts for 28% of all consumption time, but actually only brings in 13% of advertising spend – he predicts that will change as advertisers consider new formats.

The claim come as rumours suggest Disney and News Corp are looking at taking their content from Hulu in order to focus on their own sales strategy.