Hulu's reach as a video platform keeps growing, now reaching more video viewers than the second biggest U.S. cable company.

In July, some 38 million people watched a video on Hulu, according to comScore.

Meanwhile, we estimate that Comcast has approximately 62 million viewers, while Time Warner Cable has 34 million. (To calculate cable viewers, we multiplied their end-of-June video subscribers by 2.59, the U.S. Census Bureau's most recent stat for average persons per household.)

What does this mean? Not much, yet. Obviously, cable companies are still bringing in vastly more revenue than Hulu, and remain more important to the networks whose shows appear on either platform.

But Hulu is increasingly making a strong case that it could be the video platform for the future -- if it can ever create nearly as much revenue for content producers as cable companies do today.

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