Viacom buys completely free, ad-based TV streaming service & # 39; Pluto TV & # 39;
As the streaming TV market continues to develop, Viacom announced today that it has purchased the Pluto TV streaming service for $ 340 million. As reported by Variety the agreement is expected to close this quarter.
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In a statement, Viacom's CEO Bob Bakish speculated that the combination of Pluto TV's infrastructure with Viacom's content would result in New Consumer Opportunities:
"Today, it is an important step forward in Viacom's development, as we work to move both our company and the industry forward, "said Bob Bakish, CEO of Viacom. "Pluto TV's unique and market-leading product, combined with Viacom's brands, content, advanced advertising capabilities and global scale, creates a great opportunity for consumers, partners and Viacom."
Pluto TV is a video streaming service that has grown in popularity in recent years. It offers a smooth Apple TV app and access to "over 100 live channels and 1000's of movies." Currently, Pluto TV is completely free and ad-based, but it is unclear whether it will continue under Viacom's ownership. The app draws 12 million months of users.
Viacom's acquisition of Pluto TV comes as the launch of Apple's own streaming service is approaching. Furthermore, NBC has recently announced that it will launch an ad-supported video streaming service next year.
You can try Pluto TV on Apple TV here.
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