Hulu's lack of international content is an opportunity for small media producers

Hulu is gaining more and more acceptance as the default web platform for studio produced content in the US, to the detriment of others like Youtube or Blip.tv

Hulu however has a big Achile's heel: it only works in the US, which is only a small part of the market for online video. There are a lot of English speaking countries out there (Canada, the UK, Malta etc...) as well as a huge amount of countries where English is widely spoken as a second language. This could constitute a market that is as big if not bigger than the US market itself.

The reasons behind Hulu's US only policy is that the studios backing Hulu with content actually sold the rights to use that contents outside of the united states to other distribution companies, most of which have no internet plan or strategy. This means that in many countries the major studios have NO web presence beside pirated content (which shouldn't be underestimated).
As a result independent producers have a big advantage over big studios in the international market: since they usually own the global rights for their content, they can diffuse it on the world wide web, satisfying international users frustrated by Hulu's unavailability and the lack of a local equivalent.

In many countries the only options for legal web based videos is Youtube and other services like Blip.tv. As Youtube removes content at the request of studios, this leave small players where independent media thrives in a good position to get some market share. This is the Emusic situation all over again but for video this time: independent and amateur producers may grow their market shares by targeting the market that the big studios can't or won't satisfy.

UPDATE: I wrote about a trick to bypass Hulu's US only restriction.