MUMBAI: Hulu, the over-the-top (OTT) subscription service offering ad-supported on-demand streaming video of TV shows, movies and webisodes, has announced that it grew the business by 60 per cent from 2010 to approximately $420 million in revenue.

Hulu claims to have exceeded its plan despite the soft ad market in the second half of 2011. Overall, the Hulu ad business grew aggressively and Hulu Plus materially exceeded the plan.

Hulu Plus now has over 1.5 million paying subscribers and this number continues to grow extremely fast. Hulu Plus has reached 1.5 million paid subscribers faster than any video subscription service launch (online or offline) in US history. It is attracting more than 2x the number of subscribers each day when compared to this time last year. The company expects that its subscription services will account for more than half of its overall business later this year.

Last year it expanded the content available to Hulu and Hulu Plus customers. Hulu?s content offering grew approximately 40 per cent vs 2010; Hulu Plus? content offering grew more than 105 per cent.

Hulu Plus offers current season content from five of the six largest US broadcast networks, with shows from The CW and Univision added this past quarter. In 2011, it added series, including ?Grimm?, ?Once Upon a Time?, ?Misfits?, ?Revenge?, ?Terra Nova? and New Girl.

In 2011, Hulu invested heavily in the development of apps that empower users to access Hulu Plus from a wide variety of devices. Hulu Plus is now accessible on leading consumer electronics devices and mobile operating systems with a combined installed base of over 200 million.

Hulu said its ad service continues to lead the online video ad market, with the largest market share of a rapidly expanding market. It has now served over 1,000 brand advertisers.

MUMBAI: Zee Group chairman Subhash Chandra has announced the creation of a $250 million content development, production, co-production and acquisition fund for Veria Living, the network devoted to showcasing wellness programming and related content across multiple media platforms.

Chandra said that the establishment of the $250 million fund is yet another step in Zee Groups? strategic five-year plan to further expand Veria Living?s presence in the US and beyond as the go-to-source for all things health and wellness.

?We are firmly committed to growing the Veria brand across television, Internet, mobile and OTT platforms. By focusing on original content development and production we?re not only looking to build a broad US audience for Veria Living, but also setting the table for the expansion of the brand globally over the next couple of years,? he said.

Veria Living claims of offering the world?s largest line-up of first-run, original programming ? connecting viewers in a contemporary and accessible manner to the benefits and joys of living a healthy lifestyle.

The New York-headquartered Veria Living television network is available throughout the US on Dish Network, Verizon FiOS and Frontier Communications subscribers.

Veria.com, the website, complements the network by extending the Veria Living philosophy through online recipes and nutrition, holistic health tips, body-mind conditioning and all-natural products.

The news comes on the heels of Veria?s recent announcement regarding its new primetime programming line-up, launch of its new comprehensive website (www.Veria.com) and rebranding as Veria Living scheduled for a January 2012 premiere. The network also recently unveiled a new lifecycle logo combining Eastern influence with Western design (sunshine yellow and tangerine orange) and its new tagline ? ?Go Well?.

Veria Living and Zee TV suite of Indian language channels are managed in the US by Asia TV USA and overseen by its CEO Suresh Bala Iyer. Iyer said, ?We not only want to appeal to our core 35-44 Adult and 25-54 Women demos, but to all Americans who are looking to lead healthier lives. Veria Living helps them to achieve this by passionately advocating for quality and vitality of life by following proven wellness and nutritional activities. This fund will go a long way towards helping us to achieve our goals while creating the most entertaining content possible that fits our mission.?

Chandra founded Veria as way to promote wellness to the West, was in New York to receive the 2011 International Emmy Directorate Award.