Viacom Acquired Pluto TV for $340 Million

When it comes to streaming movie services there are very few companies which are still working under this sector and one if them is Pluto TV which has been now acquired by the Viacom. PlutoTV is an ad-supported movie streaming service platform which has got more than 12 million active users and most of its revenue comes from the advertising. After the acquisition, Pluto TV will be working as a subsidiary of Viacom and the CEO will continue the operations of it. There have been many speculations going on in the market regarding this deal and now it’s been confirmed. Viacom which is one of the largest company now would be able to use this platform in various forms since the company can now promote its paid product to the audience of PlutoTV directly and the majority of the ongoing profit would belong to the company too.

If we analyze this deal Viacom has better chances with PlutoTV because not only this company has more than ten millions of users but the majority of them are young and teenagers. Viacom is trying their best to enter into movie streaming business and with this deal, it seems like the company has grabbed the opportunity. Currently, online movie streaming industry is getting popular among teenager since now no one is sitting in front of the TV to watch their favorite movies or TV shows. PlutoTV app is available for free on various platforms and now since the acquisition is made now one can expect a new and more advanced version of this app coming soon.

However, there is no certainty about how Viacom is thinking if using this new platform because many are predicting that the company wouldn’t change it that much and will earn revenue from it only and one will have to wait for the company’s statement regarding this issue.

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Jason Amato

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