I wouldn't exactly call Hulu a new model. It's basically broadcast's model adapted for the web. You see premium content (and shows like the Office are premium content compared to many of the home-made YouTube clips) and watch ads in exchange. Likewise, content is only available for a limited time and then it reappears as reruns later.<p>It's a wonderful service and it's polished like none-other with a great interface and 480p video (very good by web standards). However, its success is more based upon the fact that it's a joint-venture of Fox and NBC who supply it with content that people want to see than its technical merits. I love it, I'm grateful it exists and that it's so awesomely nice to use. At the same time, I can't really draw many lessons from its success. Maybe: get partners with monopolies on good content which will drive users to your site?
Remember when many here (including myself) were at best skeptical of what Arrington called "Clown Co.?" Mea culpa:<p><a href="http://news.ycombinator.com/item?id=5694" rel="nofollow">http://news.ycombinator.com/item?id=5694</a>
<a href="http://news.ycombinator.com/item?id=5972" rel="nofollow">http://news.ycombinator.com/item?id=5972</a><p>That certainly would have made an interesting contrast to the "Hulu is the one that's figuring it all out" theme.
Hulu is fantastic. I canceled my cable TV when I realized all the shows I watch are on there. With the money I saved I bought a mini computer just for my HDTV.