Key facts
- Skydance reported Pluto TV at about 75 million monthly active users in its third-quarter shareholder letter.
- Pluto TV had 89.6 million monthly active users in 2025, per a town hall presentation reported by Business Insider.
- Skydance said the first phase of merging Pluto TV and Paramount+ technology is largely completed.
- Co-CEOs David Ellison and Ynon Kreiz said the shared platform lowers operating costs and speeds product development.
- Two Paramount streaming employees said the September layout change could have contributed to the user drop.
- Nielsen put Paramount's streaming share at 2.3% of US TV viewing in August, the same level as March 2025.
Skydance told shareholders on November 10, 2026, that its free streaming service Pluto TV had about 75 million monthly active users, down from 89.6 million in 2025. The figure came in the company's third-quarter earnings release, Business Insider reported.
The 2025 count and a 2024 figure of around 84.2 million came from a town hall presentation by Paramount streaming finance chief Elizabeth Wright, reported by Business Insider in April. The slides did not say whether the numbers were fiscal-year averages or year-end totals. Paramount had told investors in May 2023 that Pluto TV reached 80 million monthly active users.
Skydance co-CEOs David Ellison and Ynon Kreiz said in the shareholder letter that the first phase of merging Pluto TV and Paramount+ onto one technology platform is largely completed. They said the shared platform lowers operating costs, speeds product development and gives shared personalization and monetization capabilities across free and subscription offerings.
Pluto TV's interface was refreshed in September to put on-demand content ahead of its live channels. The shareholder letter said the change and upgrades such as improved personalization are already improving the user experience. Two Paramount streaming employees said they thought the layout change could have contributed to the drop in monthly active users.
Rivals have gained share. Nielsen data showed Tubi, owned by Fox, rose from 1% of US TV viewing in February 2023 to 1.9% in August, with monthly active users growing from 74 million in September 2023 to 110 million as of August. The Roku Channel rose from a 1.1% share in May 2023 to 2.9% in August. YouTube's share rose from 5.7% in May 2021 to 15.8% in August, against 7.7% for Netflix.
Pluto TV first appeared on Nielsen's monthly streaming charts in July 2022 with a 0.8% share. Its individual share peaked at 1% in February 2025, after which Nielsen began reporting it alongside Paramount+. Paramount's streaming share was 2.3% in August, the same level as in March 2025.