Utilitarianism <: utility theory (that is, a subtyping relationship). Utilitarianism of the Peter Singer kind is specifically choosing a utility function that consists of a linear, nonweighted sum of one-dimensional happiness/pleasure measurements across the entire animal population of the world, minus a linear, nonweighted sum of one-dimensional misery/pain measurements across the entire animal population of the world.
The inherent problems are the usual objections to hedonic total utilitarianism: the Repugnant Conclusion, wireheading and experience machines, the fact that emotions and sensations just aren't linear real-valued variables, the difficulty in measuring them as such even if they were, and of course the Repugnant Conclusion.
Oh, and the fact that Singer has long-since given up on trying to prove hedonic total utilitarianism normatively correct, and thus simply begins his books by saying, "Well, I can't prove it to you, but let me appeal to your emotions and intuitions to hammer it into you, and then proceed on with my arguments about what I demand from you."
Which is why it's really quite disappointing to see people fawning over Singer's utilitarianism: it's unproven, it's unreasonable on its face, it engages in rather flagrant neoliberal apologia (ie: charity rather than social reform or revolution), and it thus adds up to a series of bad ideas wearing nice suits.