Hulu celebrates the one-year anniversary of its public launch today, and it’s getting social by adding Facebook and MySpace functionality. Many skeptics (*cough* Om *cough*) originally dismissed the joint venture between FOX (s NWS) and NBC (s GE) as something that couldn’t work, but over the last year Hulu’s premium content service has turned one-time critics into champions, and it’s now the No. 2 video site behind YouTube (s GOOG).
Past might not be prologue for the content provider, however. The online video world is vastly different now than it was when Hulu launched. Hulu may be a victim of its own success, as the premium content era it helped usher in is adopted by the competition. With media companies and cable cos getting into long-form video online, we at NewTeeVee ask the question: Do we need Hulu anymore?