Since being acquired by ViacomCBS, free streaming service Pluto TV has been building its channel lineup and growing its number of active users. In a Q1 earnings call in May, ViacomCBS said Pluto TV had grown to 24 million active users, up 55% year over year.
“ViacomCBS delivered solid results in our first full quarter, including sequential improvement on key financial metrics, as well as clear operating momentum,” CEO Bob Bakish said at that time.
Now, Pluto TV is looking to build on that success and reach its next goal of reaching 30 million subscribers this year.
“There’s no doubt in my mind we’ll hit the 30 million number by the end of the year,” Pluto TV CEO Tom Ryan told TheWrap.
Pluto TV launched in 2013, just as subscription streaming was getting its start. Since then, it has become an example of how free, ad-supported services can benefit massive media companies like ViacomCBS by bringing in engaged audiences, ad revenue, and opportunities for promoting paid services.
“Free, ad-supported streaming television is the single largest opportunity from an audience perspective in streaming. Full stop. People are creating their own bundle of streaming apps — the average house uses four to five streaming apps, but are only typically willing to pay for two to three of those. Pluto TV allows you to have hundreds of high-quality, premium live channels and thousands of shows and movies on demand, all for free,” Ryan said.
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