Founded in 2013, Pluto TV streams over 100 channels and features thousands of hours of on-demand content of all kinds. The service has more than 12 million monthly active users, including 7.5 million on connected TVs. The service can be streamed across devices such as Roku, Amazon Fire TV, Android TV, Apple TV, Chromecast and Sony PlayStation consoles, as well as in-built integrations on smart TVs from Samsung and Vizio, and mobile apps on Android and iOS. Pluto TV said it also secured new distribution deals that will bring its services to “tens of millions” of additional devices in the coming months.
Viacom said the deal will give it direct access to millions of customers –and namely young, gender-balanced and hard to reach- and that it will help market and keep clients for its own targeted subscription products, including Noggin and Comedy Central Now. The acquisition will give Viacom a new distributor outlet for content beyond its existing Awesomeness TV channels on Pluto TV, and, finally, promote its brands and content on other platforms, such as pay-TV, theaters or other.
The transaction will also extend Viacom’s reach globally. The company is now looking in particular at creating a Spanish-language offering, for both the US and Latin America.
The acquisition is expected to close in the first quarter, subject to the usual closing conditions and regulatory approvals.
