Free streaming service Pluto TV and Verizon have announced a comprehensive distribution deal for pay TV, connected TV, and mobile, Deadline reported today.
With the new deal, Pluto TV will gain placement across Verizon’s wireless network, Stream TV, and the pay TV service Verizon FiOS. Verizon has been focused on its 5G technology, which will benefit Pluto TV as well.
Pluto TV has over 20 million monthly viewers. The ad-supported streaming service was purchased by ViacomCBS in January 2019 for $340 million. The streaming service expects that it will hit 30 million users by the end of 2020.
Verizon has nearly 116 million wireless customers, along with 4 million FiOS subscribers and 6 million broadband customers, which will likely add to Pluto TV’s viewer base to help it reach that number by the end of the year.
With many AVOD services also being acquired by larger companies, including Tubi’s acquisition by Fox and Xumo’s acquisition by Comcast, this distribution deal could help Pluto TV lead the pack in viewership and advertising revenue as its competitors grow with their new owners.
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