Pluto TV finished the first quarter of 2020 with 24 million monthly active users (MAUs). The last example of the growth being seen in the ad-based video on demand (AVOD) sector.
Pluto TV continues to see decent levels of growth each quarter. Now owned by ViacomCBS, the service reached 22 million monthly active users at the end of last year. In the three months since then, the company has continued to add more subscribers.
In its first quarter earnings report for 2020, ViacomCBS confirmed Pluto TV finished the quarter with more than 24 million monthly active users. An increase that represents a 55 percent year-over-year growth, according to the company. The announcement also reconfirmed that during the past three months Pluto TV has rolled out a new interface, and expanded distribution channels thanks to deals with Roku, Verizon and TiVo.
The continued importance of AVOD
When ViacomCBS confirmed in January that Pluto TV had reached 22 million monthly active users, it also set an expectation that it would reach 30 million MAUs by the end of this year. One quarter later, and the service is two million MAUs closer to reaching that goal.
Of course, much of the world has changed since January and this may actually help Pluto TV reach its goal even quicker than it originally anticipated. As while COVID-19 continues to be a concern, and people remain under a lockdown order, many have turned to streaming services as a distraction and way to occupy the additional free time.
While services like Netflix have massively benefited during this time, one of the advantages Pluto TV has over others is the AVOD model. This allows the service to offer access to movies and shows for free.
Long before the coronavirus outbreak set in, the AVOD market was already proving to be an exciting and competitive side of the market, with consumer interest in the sector growing steadily. Now, with the effects of the virus coupled with the additional financial constraints being placed on more people, it is likely services like Pluto will see even greater levels of usage and increased MAUs during the second quarter of this year.
As a result, Pluto TV may find it has taken a much greater step towards its year-end goal of 30 million monthly active users, when it makes its next quarterly announcement.