Pluto TV is a favorite among free ad-supported streaming viewers, according to new data from technology research group Omida.
In August, Pluto TV Spotlight, Pluto TV Action, Pluto TV Reaction, and Pluto TV Comedy accounted for 21% of consumption across the top 100 free ad-supported channels, or FAST channels, in the U.S., Omida reported. Paramount’s Star Trek channel also joined Pluto TV in the top five ranking for June, July, and August. In addition, Omida said the top 20 channels accounted for around half of all FAST visits in that month.
“Twenty channels now represent around 50% of FAST viewing in the US, so we are likely to see a lot more consolidation in future as the importance of offering strong [intellectual property]– such as Star Trek – on an exclusive basis grows,” Maria Rua Aguete, Omida’s senior director in media and entertainment, said in a statement.
FAST channels have grown in popularity over the last year with over 1,600 channels available in the U.S. alone. In addition to Pluto TV, providers like Samsung TV Plus and Freevee have increased their channel catalogs, according to Omida. With inflation on the rise and on-demand streaming services raising their prices, customers are increasingly looking for ways to save money without sacrificing entertainment.
In October, research firm Parks Associates said in the past month, 31% of U.S. households reported watching an ad-supported video on demand or a free ad-supported streaming service – a 13% increase from 2018. In addition, 41 million U.S. households are expected to watch ad-based over-the-top (OTT) video services like Tubi, Freevee, and Pluto TV.
In addition, ad-supported tiers of subscription video on demand services, SVOD, have increased. Peacock, Hulu, Paramount+ and Max all reported more subscribers to their ad-supported tiers, according to TiVo’s second quarter Video Trends report.
“As an industry, we are now entering a new phase of streaming characterized by evolving business models aimed at enhancing profitability,” Parks said during the firm’s State of the Market: Streaming Video Services report.