Projected Revenue of Over $6 Billion Expected for Pluto TV, Tubi, The Roku Channel, and More by 2023
The streaming industry is taking over the entertainment business. With the rise of streaming services, people are now leaning towards streaming and abandoning cable TV. As a result, the revenue for streaming services is soaring high. According to eMarketer, streaming will generate a revenue of $37 billion in 2021, which is a 39% increase from 2020. The projected revenue of over $6 billion expected for Pluto TV, Tubi, The Roku Channel, and more by 2023 is a testament to the growth of the streaming industry.
The rise of free streaming services
The subscriptions of paid streaming services like Netflix, Hulu, and Amazon Prime Video are falling, possibly because there are newer, free streaming services available. Pluto TV, Tubi, and The Roku Channel are three of the many free streaming options that have gained popularity among viewers. Unlike paid streaming platforms, free streaming services offer viewers access to a broad range of movies, TV shows, news, and more without incurring significant costs.
The revenue of Pluto TV, Tubi, The Roku Channel, and more
Pluto TV and Tubi are among the top free streaming services in the United States. Pluto TV, owned by ViacomCBS, was launched in 2013 and is available in the U.S., UK, Germany, and Austria. In the U.S. alone, Pluto TV boasts of more than 26 million active users. In comparison, Tubi, owned by Fox Corporation, has over 33 million active users in the United States.
Moreover, The Roku Channel, which was launched in 2017, has more than 54 million active accounts in the United States. According to eMarketer, revenue for The Roku Channel is projected to exceed $1.36 billion in 2022. Pluto TV and Tubi are also set to generate a revenue of $1 billion and $522 million, respectively, in 2023.
The impact of free streaming services on the industry
Given the widespread use of free streaming services, paid streaming platforms have to adapt to the changing tastes of viewers. Due to the convenience offered by free streaming services, viewers now have more choices to select their preferred movies and TV shows, creating a new paradigm shift in the industry. However, on the downside, smaller-scale streaming services may get under strain as free streaming services continue to grow in popularity.
Streaming has come a long way over the years, from having to subscribe and pay for bundles to on-demand streaming. The rise of free streaming services continues to shape the industry’s landscape, indicating that viewers want a more affordable alternative to paid streaming services. Nonetheless, paid streaming services like Netflix, Amazon, and Apple TV+ will continue to remain relevant as they offer new releases and exclusive content. However, the projected revenue of over $6 billion from Pluto TV, Tubi, The Roku Channel, and more by 2023 shows how free streaming services are becoming a formidable force in the industry.
#STREAMING #FREE_STREAMING #PLUTO_TV #TUBI #ROKU #EMARKETER #INDUSTRY #ENTERTAINMENT #VIEWERS #REVENUE #SUBSCRIPTIONS #NETFLIX #AMAZON #APPLE_TV+ #NEW_RELEASES #BUSINESS