Pluto TV has announced it has received $5 million in funding from Samsung Venture Investment Corporation, with participation from other investors totalling $8.3 million. Pluto will use the funding to further expand products, content and marketing efforts.
Jihong Kim from Samsung Venture Investment Corporation stated that Pluto TV is the leading free Internet TV service in America and Samsung sees huge potential for the company as it scales its cutting-edge offering to viewers around the world.
Pluto TV has over 100 live channels and an on-demand offering, and Pluto TV has partnerships with major TV networks, movie studios, publishers and digital media companies. Pluto TV also provides live sports, news, and unique thematic channels not available to subscribers of traditional pay-TV services, skinny bundle services and SVOD services.
Pluto TV has also been growing rapidly, announcing over 40 content partnership deals this year alone with Warner Bros, Lionsgate, MGM, Bloomberg, Al Jazeera English, Cheddar, Gravitas Ventures, Asylum, Viz Media, Electronic Music Awards, Big Sky Conference, Stadium, Jukin Media and Jash.