Viacom purchasing Pluto TV. The free ad-supported streaming service selling for $340 million. The service says it currently has about 12 million users. For those of you who don’t use Pluto, it’s really been an amazing live streaming TV operation, with dozens of channels and an elegant TV guide interface. Pluto TV’s current CEO will stay on board. Pluto TV has about 100 ad-supported channels and a library of on-demand content. The key with Pluto is that their service is subscription free.
For Viacom, the acquisition of Pluto TV is all about getting direct access to millions of consumers, a lot of those people are younger than a typical pay-TV subscriber. Viacom is also interested in monetizing its library of content with ads. Viacom is also hoping that Pluto TV will serve as a new way to promote and market its paid subscription products, which include Noggin and Comedy Central Now.
This article was written by Christopher Michael McHugh. Mr. McHugh is a producer, media analyst, marketer and the owner of McQ Marketing Group. For consulting, public speaking, interview or other inquiries, please text or call 203-689-3419 or email Chris@McQMarketingGroup.com.
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