Skydance's Pluto TV has shrunk as its free TV rivals have gained share
The Skydance-owned streamer Pluto TV now has fewer monthly active users than it did in 2023, the company revealed.
The free ad-supported streaming service Pluto TV, owned by Skydance, has seen a decline in its user base, while its main competitors have grown. Skydance, the new owners of Pluto TV, reported a drop to 75 million monthly active users in November 2025, down from 89.6 million in 2023. The platform underwent a redesign of its interface and backend technology, but these changes may have contributed to the drop, according to two Paramount streaming employees.
Competitors such as Tubi, Roku Channel, and YouTube have gained significant market share, with Tubi rising from 1% to 1.9% of US TV viewing and Roku Channel increasing from 1.1% to 2.9% of US TV share. Pluto TV's downfall presents a challenge for its CEO, David Ellison, who hopes to create a competitive streaming service through a merger with Warner Bros. Discovery.
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