Viacom has announced they will be buying the free streaming service Pluto TV for $340 million.
Viacom Inc believes this acquisition will help the company compete with other streaming video services like Hulu, Netflix, YouTube TV, and others. The company also expressed that buying Pluto TV will expand their advertising business. They are of the belief that with Pluto TV they can target viewers based on their habits.
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Pluto TV has an estimated 12 million monthly active viewers. I can see Viacom easily doubling or tripling that number by putting more of their archived content on the Pluto TV platform.
My personal experience with Pluto TV has been bittersweet. I found quite a few things on the platform that I was willing to watch including sports. The worst part was the commercial were often and not in the traditional slot where commercial would land on a lunar TV.
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There is no date on when the deal will officially go through.
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