Nas’ Company Sells Pluto TV To Viacom For $340M

[5 Grand]

There are several Hip Hop websites that reported this story last week, but I haven't seen any non Hip Hop websites report it. If it's true then Nas is catching up to Jay in the business world.



NEW YORK CITY, NY – Despite some messy child custody drama that will see Nas and Kelis back in court this April, it appears that Nas is starting 2019 off on a high financial note.

On Tuesday (January 22), Viacom purchased Pluto TV streaming service — a company that Nas invested in back in 2014 via his Queensbridge Venture Partners firm — for $340 million, The Wall Street Journal reports.

The platform, with its numerous partnerships, offers users more than 100 streamable live TV channels and on-demand programming for free, with the capability to take the streams on the road via iOS or Android for a monthly fee.

https://hiphopdx.com/news/id.50050/title.nas-company-sells-pluto-tv-to-viacom-for-340m#

 

[grYmes]

Nas seems to stay flippin money now. Wouldn’t mind seeing a doc or something on how he got his venture capital shit goin. From what I already researched he was an early investor in (Rap)Genius, Lyft & Seatgeek. Damn..

 

[5 Grand]

Here's an article that's supposedly on The Wall Street Journals website, but the website is WSJ.com. I'm still unclear if this story is true.

Viacom Acquires Video-Streaming Service Pluto TV

By
Benjamin Mullin
Updated Jan. 22, 2019 6:37 p.m. ET

Viacom Inc. VIAB 2.76% said it bought the ad-supported video-streaming service Pluto TV for $340 million in cash, a move that gives the pay-television giant another entrée to the realm of online video.

Acquiring Pluto TV will allow Viacom to increase the digital audience for its programming, while giving the owner of networks such as Nickelodeon and MTV instant scale for its online advertising business.


Pluto TV, which was founded in 2013, streams thousands of hours of content, including movies, news broadcasts and cartoons, Viacom said. The service has more than 12 million monthly users, according to Viacom, 7.5 million of whom are on connected TVs.


Pluto TV’s revenue is projected to rise to $150 million in 2019, mostly from digital advertising, according to a person familiar with the matter. The company competes with Tubi TV, among other video-content aggregators.

https://www.wsj.com/articles/viacom-acquires-video-streaming-service-pluto-tv-11548199001