[RoyGBivCap]

I know this isn't exactly the same, but I used to work at an adtech startup and my boss was very savvy in the industry, and right in front of me did some quick napkin math showing that Hulu probably makes about $20 a month off of people in the free tier, and only $13 from their ad-free* subscription.

So by subscribing Hulu makes less money off of you.

The main reason is video ads pay the most, which doesn't apply to papers, but does apply to websites. So what's their excuse now?

*Their "ad-free" tier has ads.