Pluto TV Bolsters Exec Team

Pluto TV, the ad-based, linear-style OTT service, has added two execs to its senior team -- Jeff Shultz to chief business officer, and Mike Drath, who is taking on the dual role of CFO and COO.

Both are newly created roles at Pluto TV. Shultz and Drath report to Pluto TV CEO and co-founder Tom Ryan and will be based at the company’s headquarters in Los Angeles.

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Drath previously was CFO and COO of theAudience, a venture-backed social media company, and was also on the strategy and business development team for Disney Consumer Products.

Shultz most recently was SVP of business development for CBS, and is also late of NBC. He has also been an exec with internet TV startups such as Clicker and Concert TV, which he co-founded.

Pluto TV landed a $30 million Series B round in late 2016, and received additional investment from Samsung Ventures in 2017. Pluto TV has raised about $51.8 million, according to CrunchBase.

Pluto TV delivers more than 100 free, ad-based channels on a wide range of platforms, including Roku players, web browsers, Android TV devices and PlayStation and Xbox consoles, among others.

“Mike and Jeff are joining at the perfect moment,” Ryan said in a statement. “Expanding our executive team with top industry talent is part of a larger initiative to build on Pluto TV’s strong momentum and to reinforce our market leadership position in free Internet television. Both Jeff and Mike bring the ideal combination of big media industry experience and start-up expertise. They will be critical to our continued success and I’m thrilled to have them aboard.”