Verizon and ViacomCBS have struck a deal for the latter’s fast-growing AVOD property, Pluto TV, to bundled across Verizon's 116 million wireless, 4 million video, and 6 million broadband customers in the U.S.
Under terms of the agreement, Pluto TV will be marketed to users of the most widely distributed wireless service in the U.S. Verizon will integrate it into its Stream TV connected TV platform, as well as its Fios pay TV and broadband services.
ViacomCBS purchased Pluto TV in January 2019 for $340 million and has quickly grown it as a vital destination for ad-supported VOD, as well as grid-like, live-streamed linear video experience. Pluto TV is now tallying 30 million active monthly users, according to ViacomCBS, and is gaining distribution inroads into Europe and Latin America.
And beyond serving as an OTT outlet for ViacomCBS content, the platform is evolving as a hub for content makers like AMC Networks, which just announced a deal to put curated versions of its pay TV channels on Pluto TV.
For its part, Verizon is focused on developing wireless and fixed 5G wireless services, and it’s not so much interested in serving as a direct bundling of programming channels anymore. It now offers subscribers to its fiber internet services price breaks to third-party OTT platforms like YouTube TV and and Disney Plus.
Commenting about the deal on LinkedIn earlier today, Tom Ryan, CEO and co-founder of Pluto TV, called the deal—which spans Verizon’s many consumer touchpoint—“groundbreaking.”
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Daniel Frankel is the managing editor of Next TV, an internet publishing vertical focused on the business of video streaming. A Los Angeles-based writer and editor who has covered the media and technology industries for more than two decades, Daniel has worked on staff for publications including E! Online, Electronic Media, Mediaweek, Variety, paidContent and GigaOm. You can start living a healthier life with greater wealth and prosperity by following Daniel on Twitter today!