ViacomCBS’s free, ad-supported streamer Pluto TV is focused on growth, not on turning a profit. But as the platform became a $1 billion business in 2021, the U.S. side of the business is also going to be profitable earlier than anticipated, ViacomCBS CEO Bob Bakish shared Tuesday.
“Pluto in the domestic U.S. today is profitable,” Bakish said at the UBS Global TMT Conference. “It’s actually profitable in ’21 and it’s at margins approaching broadcast. This business clearly has the opportunity to create incremental bottom-line value.”