Hulu is on fire. The video site, co-owned by Fox and NBC Universal, had nearly 350 million video streams in March, up 50 million streams from February, according to just released numbers from Nielsen Online.  As was the case in February, Hulu is second only to YouTube.

YouTube has increased its monthly streams to about 5.5 billion, up 500 millions (additional) streams from February, according to Nielsen.

Last month in Los Angeles, Beet.TV interviewed Hulu CTO Eric Feng on the site and how it is evolving.

Here's the take on the new numbers by Chris Albrecht at NewTeeVee.

— Andy Plesser, Executive Producer

Nielsen.2