Sublime

A key element of Hulu Plus is that we are able to compensate content owners more per-user per-month than anyone else for the same body of content. We are able to do this because of the subscription fee, our unusually effective and market-leading advertising service, and our

traditional video on demand systems, and/or online viewing).

It is clear to us that — because of the internet and the increased competition/innovation it brings — the future of TV is

audience, thanks to the internet medium. And content owners will have the opportunity to make higher financial

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