2011 was a big year for Hulu. The premium content distribution service brought in more than $420 million and counted almost 1.5 million subscribers for Hulu Plus, its pay-to-view service. Those numbers, however, pale in comparison to the company’s 2012 metrics. In addition to doubling the number of Hulu Plus subscribers, Hulu also increased its revenue by 66%; by the end of the year, the service will have achieved close to $700 million in revenue.

A recent blog post by Hulu CEO Jason Kilar helps explain how the company saw such a big boost in 2012. Hulu remains at the center of the cord-cutter trend, and continues to stay ahead of the curve; by increasing its content base (including a large expansion to its kids and games sections) and offering its service across a variety of different devices, Hulu continues to battle Netflix as the must-have subscription for any cable-free consumer.

“When it comes to building things that matter, most entrepreneurs hope to have the good timing and the good fortune to find and ride (and ideally shape) one massive wave.” said Kilar. “At Hulu, we are doubly fortunate in that we are at the crest of two massive waves that we believe will persist for the long term: the rise of online video advertising and the rise of online video subscription services.”

Of course, there is still plenty Hulu can work on improving in 2013. The blog post’s comments section reads like a laundry list of suggestions. Despite the recent launch of Hulu Japan, the popular service is still unavailable in most foreign countries, much to the chagrin of expats and other English speakers around the globe. Other users were miffed at Hulu Plus’ perceived lack of content and quality options. Still, it was another winning year for Hulu. By staying at the head of the online video charge, Hulu can easily remain a leader in premium content in 2013.