Hulu Hurtling Toward One Million Paying Subscriber Milestone

Hulu, which has been on a charm offensive lately as it parades itself in front of potential buyers, polished up the product some more today with a Q2 progress report from CEO Jason Kilar.

And progress there was. Kilar said the number of Hulu Plus paid subscribers is outpacing projections by a wide margin. “In our first 7.5 months, we are fast approaching the one million paying subscriber milestone (we already have over a million when including those in a one-week free trial period),” Kilar wrote. “We anticipate exceeding one million paying subscribers before the end of this summer; previously we had forecasted crossing that threshold around the end of this year.”

Kilar also touted Hulu’s value to content providers ($8 per subscriber per month), its penetration (now available on assorted devices with a combined installed base of more than 100 million), its content library and its share of the online ad market.

In short, said Kilar, “We remain on pace to approach half a billion in 2011 revenue.”

And then he made a graceful turn and strode back down the runway.