Today Viacom announced its 3rd quarter 2019 earnings. In that earnings report, Viacom announced that Pluto TV now has 18 million active users in July 2019 up 50% from one year ago. When Viacom purchased Pluto TV in Janurary it had just 12 million subscribers. (Note: April through June is the 2nd quarter no the 2019 calendar but because of how Viacom does its accounting it is the 3rd quarter for Viacom.)
Pluto TV also saw revenue increase 84% year over year. To help grow revenue Pluto TV also added Vantage a “sophisticated ad targeting platforms” that should help Pluto TV grow their ad revenue.
Pluto TV had other good news in the 3rd quarter of 2019 including being added to Comcast’s Xfinity X1 box. Pluto TV also added 28 new channels and expanded internationally. In July Pluto TV launched Pluto TV Latino that included 11 channels in Spanish and Portuguese with more channels on the way. In the UK Pluto TV added the on-demand platform My5.
Later today Viacom will hold its 3rd quarter 2019 earnings call. Cord Cutters News will have full coverage of any news coming from Viacom’s earnings all.
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