Viacom reached a deal to acquire Pluto TV, which operates a free, ad supported streaming service, for $340 million. That’s in line with what we reported last week. (We’d also reported that Viacom was considering buying Pluto’s competitor Tubi, but it looks like that deal was not…to be.)
In the announcement, Viacom said Pluto TV had 12 million monthly active users. We’d heard it was around 10 million midway through 2018, so the service continues to grow but not at a rapid rate. With the purchase Viacom gets access to all those viewers as well as distribution across a large swath of smart TVs and connected devices like Rokus. It will be interesting to see how Viacom uses its newest asset—by scaling up Pluto’s free, ad-supported service or by using it as a springboard to a subscription offering.