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The round was led by German television network ProSieben, with additional funding from telecommunications company Sky UK.
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raised $30 million in series B venture capital funding from ProSiebenSat.1 Media, Scripps Networks Interactive, and venture capital firms Luminari Capital, Chicago Ventures and Third Wave Ventures, valuing the company at $140 million.
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On May 15, 2016, Pluto TV signed an agreement with Sony to make the Pluto TV app available on the PlayStation Store for download by users of the PlayStation 3 and PlayStation 4. In October 2015, 20 additional channels (featuring content from AwesomenessTV, IGN, Cracked, DHX Media, Just For Laughs, Newsy, Legendary Digital Networks and The Onion) were brought onto the service's lineup, bringing the total number of curated channels offered by Pluto to around 120. Separately, in the weeks preceding the Hulu deal, Pluto TV had reached content agreements with AOL, Endemol Beyond USA, Shout! Factory, Jukin Media and YouTube content channels Devin SuperTramp, Multicom, Around the World in 4K and Amazing Places on Our Planet to distribute their programming on the service. Under the arrangement, Hulu handled advertising for content made available through the Pluto website.
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On July 1, 2015, Pluto TV announced that it had signed a deal with Hulu to distribute the ad-supported video content, available for free on Hulu's website at the time, including current-season episodes of programs from ABC, NBC and Fox, recent and older classic television series, and domestic and foreign animated programs.
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On May 14, 2014, Pluto unveiled a digital video recorder feature on its website known as "myPluto" users could “record” content by clicking a “save show” button that would archive content from the channel as it played. Venture Partners (USVP), QueensBridge Venture Partners, Pritzker Group Venture Capital, Luminari Capital, Great Oaks Venture Capital and Chicago Ventures. The service was originally owned by Pluto Inc., which, during the second half of 2013 and early 2014, had raised $13 million in series A funding from investors that included Universal Music Group, Sky plc, UTA Ventures, and venture capital firms U.S. Ryan (former Senior Vice President of Digital Strategy at EMI and co-founder of now-defunct digital music retailer CDuctive), Ilya Pozin (founder and former CEO of venture builder firm Coplex) and Nick Grouf (co-founder and managing director of venture capital firm Alpha Edison), it was originally developed to provide curated channels of existing online content, offering a slate of nearly 100 categorized channels featuring content aggregated from various video-sharing platforms (including YouTube, Vimeo, and Dailymotion) as well as additional content provided through partnerships with original web content services and television networks (including Funny or Die, QVC, Refinery29, RocketJump and TYT Network). Pluto TV launched its beta website on March 31, 2014.
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Its content is available via its website and mobile apps on Android and iOS operating systems. Pluto TV licenses its content directly from providers, and as of March 2020 had deals with 170 content partners providing more than 250 channels and 100,000 unique hours worth of programming. The service's revenue is generated from video advertisements seen during programming within ad breaks structured similarly to those found on conventional television. Co-founded by Tom Ryan, Ilya Pozin and Nick Grouf in 2013 and based in Los Angeles, California, in the United States, and parts of the rest of the Americas, and Europe, Pluto is an advertiser-supported video-on-demand (AVOD) service that primarily offers a selection of programming content through digital linear channels designed to emulate the experience of traditional broadcast programming (sometimes known as a free ad-supported streaming television or "FAST" service). Pluto TV is a free ad-supported video streaming service owned and operated by Paramount Streaming, a division of Paramount Global (previously named ViacomCBS). 68 million monthly active users (as of April 1, 2022 )
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