Nas Investment In Streaming Service Pluto Tv Pays Off Viacom Buys It For 340 Million

Pluto TV is a free, ad-supported streaming service that lets users “flip” through channels of video from a wide variety of sources, an attempt to bring a dearly missed part of the cable experience back into the streaming era. And according to the press statement from Pluto TV’s CEO and Co-Founder Tom Ryan, the Viacom buy makes perfect sense: “Since our launch less than five years ago, and particularly over the past year, Pluto TV has enjoyed explosive growth and become the category leader in free streaming television… Viacom’s portfolio of global, iconic brands and IP, advanced advertising leadership and international reach will enable Pluto TV to grow even faster and become a major force in streaming TV worldwide. Viacom is the perfect partner to help us accomplish our mission of entertaining the planet.” QueensBridge now reportedly gets about a hundred pitches a month from companies hoping to become its next success story.