Viacom acquires Pluto Tv in a strategic transaction of $340 million ByBill Toulas-January 23, 2019.828 Pluto Tv will now act as an independent subsidiary of Viacom, enhancing all sectors of production. Viacom has gained a new dactyl to reach out to a broader audience, especially the young. Online streaming sites and channels are in the course of being developed by media producers and distributors. Viacom is a New York-based mass media giant, and the world’s ninth largest revenue broadcaster. Being a more “traditional” pay-TV corporation Viacom was looking to enter the new and more digital online streaming services industry where its rivals also see great potential so they have paid $340 million in cash to buy the free ad-supported streaming service “Pluto Tv.” This move follows the purchase of a YouTube Original Programming company “AwesomenessTv” in 2016, which has grown exponentially since its inception in 2012. Viacom provides a few key strategic highlights in its partnership announcement which can be summarized as it extends its presence on content distribution networks of the next decade. Viacom hopes this purchase will help Pluto Tv solidify its position of leadership in the Us free streaming market and boost its global growth in a second phase. Viacom has a professional international reach and a Spanish language service through Pluto Tv has already been promoted. Furthermore, they will now get a new channel to move by reaching out to an even wider audience for their rich network of advertisers. Basically, the most important part of this group is the young people and the younger generation who don’t know about the pay-Tv environment. Traditional media outlets have had increasingly critical trouble reaching out to this consumer group, and attempts to obtain such a category are the best way to bring them under their brand parable. As we saw recently, even the most successful live sports content distributors in the Us find it difficult to tap into the younger “digital” crowd so they are now forced to collaborate with social media and hope for bidirectional benefits. This has been handled by Viacom and other mass media firms for a long time now, and the purchase of highly successful streaming companies related to new distribution platforms is almost always the way to solve this problem and open up a whole host of new business opportunities.