The re-merger of Viacom and former subsidiary CBS Corp. should help accelerate worldwide distribution of Pluto TV, according to the ad-supported video unit. Viacom acquired Pluto earlier this year for $340 million.
“Today, we are excited to celebrate the union of two major media powerhouses — Viacom and CBS. As a part of the newly established @ViacomCBS media empire, Pluto TV has now jumped light years ahead, accelerating our mission to entertain the planet.” Pluto TV (@PlutoTV) tweeted Dec. 5.
The union presents the combined companies with three branded over-the-top video services in CBS All Access, Showtime OTT and Pluto — the latter ad-supported.
When CBS launched All Access ($5.99) and Showtime OTT ($10.99), it projected 16 million standalone subscribers by 2022. That tally was reached through the third quarter of the current fiscal year, ended Sept. 30.
Pluto TV in July claimed more than 18 million monthly viewers across more than 28 content channels.
“As the video marketplace continues to segment, we see an opportunity to support the ecosystem in creating products at a broad range of price points, including free,” Viacom CEO Bob Bakish said in the statement earlier this year.
Last month, Pluto began incorporating new channels from CBS Interactive, including ET Live and CBSN.
“We’re thrilled to be bringing more of our ad-supported streaming channels to the platform with today’s launch of our entertainment news channel, ET Live, and CBSN’s local news channels for New York and Los Angeles,” said Sarah Jeon, EVP of business development at CBS Interactive.
Pluto is also launching curated video channels for third-party clients and events. In September at the Advertising Week confab in New York, Pluto delivered a custom channel that targeted the event’s 100,000 attendees.
The Advertising Week pop-up channel showcased Pluto TV’s ability to create custom channels, a feature that’s appealing to advertisers and publishers seeking to reach fragmented and niche audiences.
The channel underscored the versatility of streaming TV, which Pluto CEO Tom Ryan claims can be programmed for optimal utility without the restrictions of traditional linear networks.
“In many ways, [Pluto] drew inspiration from the things cable TV had done right in terms of creating these interest-based channels that take the work out of entertainment for customers,” Ryan told a separate media confab.