Viacom spent $340 million on Pluto TV to get into free streaming [Fast Company]

Streamer Pluto TV was bought by Viacom

Viacom spent $340 million on Pluto TV to get into free streaming [Fast Company]

By Jared Newman

January 22, 2019 | Viacom is buying its way into the ad-supported streaming video business by acquiring Pluto TV in a $340 million cash deal. The deal underscores media companies’ growing interest in free, ad-supported streaming as an alternative to taking on Netflix, Amazon Prime, and Hulu (plus Apple, Disney, and AT&T’s WarnerMedia later this year) in the paid subscription business.

Read more on Fast Company.

Related Articles:
 Walmart abandons streaming plans, will focus on Vudu [CNBC]
Tags:
, , ,