Hulu (NWS, GE) is reportedly close to striking a deal with Sony (SNE) to offer a paid TV service on its PlayStation 3, with an announcement possibly coming as early as next week, according to a Bloomberg report.
That move could signal the online video company's long rumored efforts to add another dance card to its revenue source, which currently relies on advertising. Other potential distribution partners for its online videos include Microsoft's Xbox 360 (MSFT) and Apple's iPad (AAPL), according to Reuters, which noted that Hulu is considering a $9.95 monthly charge for users.
By tapping into video game consoles like the PlayStation and Xbox, Hulu would be able to move its online videos onto TVs, while increasing its distribution sources and revenues. But that move would also put it in direct competition with Netflix (NFLX), which currently offers online movies through Sony, Microsoft and Nintendo game consoles.
Hulu, according to Bloomberg, netted $14.7 million in revenues and captured a $2 million profit in February.
Hulu Coming to a PlayStation 3 Near You?