Might as well put Pets.com's logo up here

Because the economy is stable enough that investors are willing to put their money in, at heart, utterly frivolous enterprises; and because Americans are eager to repeat the sterling success that was the booming web economy of the late 90s, legal internet TV host and Google antithesis Hulu is readying for a fall IPO of $2 billion, according to the New York Times.

The article’s mentioning that the site’s revenue is virtually stagnant this year probably doesn’t look good, and the mentioning that viewership dropped “to 24 million in June from 43.5 million in May” has to have a two-pronged basis. On the one hand, Hulu could justify to investors that the majority of the shows it streams completed their seasons in May which left them with little new content for the month. On the other hand, the site’s announcement of a $9.99 monthly subscription service for the privilege of watching a show’s season in its entirety, as opposed to watching only the five latest episodes of a show for free (which is already offered for “The Office”, etc.) likely didn’t excite the masses as much as they hoped. If one could pay $9.99/month for complete libraries of shows then maybe…

It’s just that Netflix has them beat in that regard. Their subscription for the same price includes TV shows alongside movies, documentaries, cartoons and in some cases porn. They clearly have the upper hand in shear volume of media for the price you pay, not to mention it’s bankrupting rental stores. So which option would an average consumer select? Furthermore, why would a Netflix user pay another $10 a month in entertainment for a season that’ll come out on DVD- and Netflix- over the summer if they’re patient. That or I hear the high seas are still an attractive option.

Trotting Jane Lynch out to the trading floor? That'll get brokers' attention..

Nonetheless I wish Hulu luck. Given current affairs they should be joining an elite group soon enough, and if anything this should give Facebook confidence in going public. At least they hold the personal info for anyone in the industrialized world, which is a hell of a lot more valuable than last week’s “Glee”.

Photo Credits: http://www.marketingshift.com/resources/hulu-logo.jpg, http://turbo.inquisitr.com/wp-content/2010/01/jane-lynch.jpg

Marc

And for the sake of relativity, here’s Josh Hartnett.