Pluto TV user base declines as free streaming rivals surge

Previously, Paramount had announced 80 million monthly active users in May 2023, and internal data indicated a rise to 84.2 million in 2024.

Skydance has been focused on merging the technology platforms for Paramount+ and Pluto TV, a process known as convergence. The initial phase of this integration, which places both services on a shared technological foundation, is largely complete. Executives stated this shared platform aims to reduce operational costs, accelerate product development, and enable shared personalization and monetization features.

In September, Pluto TV underwent a significant interface redesign, prioritizing on-demand content over its traditional live channels. Skydance believes these changes, alongside improvements to personalization, are enhancing the user experience. However, some Paramount streaming employees suggest the interface change may have contributed to the user decline.

Pluto TV, a pioneer in free ad-supported streaming TV (FAST), launched in 2014 and was acquired by Viacom in 2019. While Pluto’s share of US TV viewing peaked at 1% in February 2025, competitors have seen substantial growth. Tubi’s share has risen from 1% in February 2023 to 1.9% in August, with monthly active users increasing from 74 million to 110 million. The Roku Channel has also gained traction, reaching a 2.9% share in August. YouTube has emerged as the dominant streaming platform, commanding a 15.8% share of US TV viewing, significantly outpacing Netflix at 7.7%.