If I ran Hulu, I’d charge $4.99 a month to subscribe to a show with ads, $7.99 a month without ads.  You’d get the newest shows plus the entire back catalog.  And, here’s a biggie – I’d let you watch it on your TV.

Short clips would stay as-is – the ones that go viral bring enormous amounts of attention to their respective shows.

I’d make a free iPhone app available so that you could watch the shows you’ve subscribed to on the go.

Now, it’s probably a longshot that you’ll see any of these moves made, at least not in the near future.  These would put Hulu head-to-head with the same cable companies that pay to carry the networks.  But if I ran Hulu, I’d worry less about maintaining the status quo.  I’d worry more about the future and I’d make sure my business was ahead of the curve, not playing catch up.