By Minal BopaiahHulu, the streaming video on-demand (SVOD) subscription service, is ending 2013 with 5 million paying subscribers to its Hulu Plus service, and $1 billion in revenues, reports BloombergBusinessweek.Hulu charges $7.99 a month for its monthly subscriptions, and assuming the 5 million subscribers stay for a year, Hulu is poised to make $479 million in subscription revenues alone.The $1 billion revenue estimate includes advertising, and represents a 44% increase since last year.Unlike its main competitor Netflix, Hulu offers a freemium model for SVOD, allowing users to view recently aired network shows through the Hulu site. This model has been instrumental in competing with Netflix, which still dominates the SVOD market.The site was up for sale in July, but corporate owners Walt Disney Co., 21st Century Fox Inc. and Comcast Corp. called off the sale and instead decided to invest $750 million into the site.