Pluto TV continues its climb into relevance. For those of you who don't know, Pluto TV is a television service that provides access to news, live sports, and themed channels for free. The company just received a $5 million investment from Samsung of all places. This money will be used to expand Pluto TV's content and marketing reach.
This sum of money came from the Samsung Venture Investment Corporation, an arm of the entity that we all know as Samsung. Other investors contributed, too, bringing the total funding round to $8.3 million. Pluto TV is hoping to improve its 100+ channels and video-on-demand offerings. The company also plans to add more partnerships to its already impressive list of 40 content deals with the likes of Warner Bros., Lionsgate, and MGM.
There's an Android (and Android TV) app, as well as counterparts on other platforms, meaning that you can watch live TV wherever and whenever you want. It's really neat and I use it when I have the rare desire to watch television, so seeing Pluto TV gain the funding it needed in order to expand is definitely a good thing.
LOS ANGELES, Oct. 17, 2017 /PRNewswire/ -- Pluto TV, the leading free Internet television service in America, today announced it has received $5 million in funding from Samsung Venture Investment Corporation, the venture capital arm of the Samsung Group, with participation from other investors totaling $8.3 million. The funding will be used to further expand Pluto TV's product, content and marketing efforts.
"Samsung is the global leader in the TV market, changing the way people experience entertainment through constant innovation," said Tom Ryan, CEO of Pluto TV. "Their investment in Pluto TV is a great vote of confidence in our mission to bring free Internet television to consumers everywhere."
"Pluto TV is the leading free Internet TV service in America and we see huge potential for the company as they scale their cutting edge offering to viewers around the world," said Jihong Kim with Samsung Venture Investment Corporation.
With over 100 live channels and a robust on demand offering, Pluto TV has partnerships with major TV networks, movie studios, publishers, and digital media companies, Pluto TV is America's go-to app for anyone seeking free TV. Heralded as a "must-have entertainment app" by Inc. magazine, Pluto TV, completes the TV watching experience by providing content like live sports, news, and unique thematic channels not available to subscribers of traditional pay TV services, skinny bundle services or subscription video on demand (SVOD) services.
Pluto TV has also been growing rapidly, announcing over 40 content partnership deals this year alone. including Warner Bros, Lionsgate, Metro-Goldwyn-Mayer (MGM), Bloomberg, Al Jazeera English, Cheddar, Gravitas Ventures, Asylum, Viz Media, Electronic Music Awards, Big Sky Conference, Stadium, Jukin Media, and JASH.