ViacomCBS has revealed plans to launch a new version of its Pluto TV ad-supported streaming service next year in Denmark, Norway and Sweden.
The company is partnering with Nordic Entertainment Group (NENT) on the service, which will combine Pluto TV’s FAST service with Viafree’s AVOD library. NENT Group will handle advertising sales for the platform.
After the new service launches in 2022, Viafree will be phased out as a standalone platform.
"Continuing to expand Pluto TV as the world-leading free ad-supported streaming TV service is a critical element of our streaming strategy, and we are delighted to partner with NENT Group to create this new and expanded version of Pluto TV. The combination of our global content pipeline and Pluto TV's best-in-class tech global platform, with NENT Group's ad sales scale and powerful local Viafree content, will position Pluto TV as the leading player in the growing FAST/AVOD space," said Raffaele Annecchino, president and CEO of ViacomCBS Networks International, in a statement. "Overall, this transformational partnership will boost Pluto TV's growth internationally, and we expect to replicate this strategic model across key international markets."
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"We are happy to have found a new and stronger way forward for Viafree through this innovative partnership that creates significant value for all parties. Viewers can enjoy Viafree's most loved formats as part of Pluto TV's broad FAST and AVOD offering, while we are able to offer advertisers an even more attractive proposition. With this, we are taking an important further step to sharpen our focus on our fast-growing Viaplay SVOD service, which we expect to have at least twelve million subscribers in 2025,” said NENT Group CEO Anders Jensen in a statement.
Pluto TV is available in 26 markets globally across the U.S., Latin America and Europe.
During the third quarter, Pluto TV grew its user base to 54.4 million global monthly active users and its revenue by 99% year over year.
“Pluto’s success continues to be driven by growth in users, engagement and sell-through, which translated to a 66% increase in Pluto TV domestic ARPU in the quarter,” said ViacomCBS CFO Naveen Chopra during the company’s most recent earnings call. He added that Pluto still accounts for most of ViacomCBS’ streaming advertising revenue.