From Business Insider · James Faris · · 2m
Pluto TV shrinks as free streaming rivals surge
Skydance's Pluto TV lost 14.6 million monthly active users in 2026, falling to 75 million as competitors like Tubi and Roku Channel gained ground.
In brief
Skydance's Pluto TV lost 14.6 million monthly active users in 2026, falling to 75 million as competitors like Tubi and Roku Channel gained ground. Pluto TV's user base fell to 75 million monthly active users in 2026 from 89.6 million in 2025, a setback for Skydance CEO David Ellison as he integrates Paramount with…
Pluto TV loses millions of users
Pluto TV has about 75 million monthly active users, Skydance told shareholders on Monday reporting third-quarter earnings. This marks a sharp decline from 89.6 million users in 2025.
The user count timeline
Pluto TV reached 80 million monthly active users in May 2023. It grew to 84.2 million in 2024 and 89.6 million in 2025 before falling to 75 million in 2026.
A challenge for Ellison's merger
The user loss poses a challenge for Skydance CEO David Ellison, who merged Paramount with Warner Bros. Discovery last month to build a streaming business competing with Netflix and Disney.
Tech platform convergence completed
Skydance merged Pluto TV and Paramount+ onto the same technology platform. The first phase of convergence is largely completed, with Pluto now running on the same tech as Paramount+ on all major streaming platforms.
Interface redesign may have hurt users
In September, Pluto's interface was redesigned to put on-demand content front and center rather than highlighting its signature always-on live channels.Two Paramount streaming employees said the layout change could have contributed to the user drop.
Rivals surge while Pluto shrinks
Tubi rose from 1% of US TV viewing in February 2023 to 1.9% in August, growing from 74 million to 110 million monthly active users.Roku Channel rose from 1.1% to 2.9% of US TV share.
YouTube dominates free streaming
YouTube has become the most-watched streamer on US TVs, soaring from 5.7% share in May 2021 to 15.8% in August. Netflix is its closest rival at 7.7%, well behind YouTube's lead.
Here's the gist
Pluto TV's user base fell to 75 million monthly active users in 2026 from 89.6 million in 2025, a setback for Skydance CEO David Ellison as he integrates Paramount with Warner Bros. Discovery.
