Hulu, the online video joint venture among thee of the big four US TV networks, is doing better than ever with viewers and revenue on the rise as the site gets ready for the start of the new programing season. At least that's what Hulu CEO Jason Kilar tells CNBC, but it also seems to be looking at new revenue sources and one option that is becoming increasingly attractive is partnering with cable companies to provide premium, restricted content to subscribers.

The online video site was launched two years ago and had the backing of NBC, as well as News Corp, offering content from the two TV networks. It quickly picked up steam, becoming one of the most popular video sites in the US (the only region where it is available), though still far behind YouTube, which dominates the market. In July, this year, it got the backing of another major TV network, Disney's ABC, which purchased a 27-percent stake in the company, and the site reached 38 million unique visitors in the same month.

But what makes Hulu a real success is the revenue it managed to generate convincing advertisers of its potential, with major companies like GM, MacDonalds or Microsoft all running campaigns on the site. What's more, because of its emphasis on longer content and its success with advertisers, Hulu was able to cut down on the number of ads, a move users welcomed, but at the same time charge more for them than other video sites. The ad recall rates that Kilar says are double those of other similar sites also helped.

Hulu already has its eyes on a new market, potentially teaming up with cable or broadband companies to offer premium content to their subscribers. Time Warner is already piloting such a program with its TV Everywhere initiative, which is currently undergoing a limited test trial, and is apparently in talks with Hulu to provide some of the content.