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Speaker 1: It's hard to stand out in the crowded O T

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Speaker 1: T world where consumers have hundreds of options from which

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Speaker 1: to screen content. But a five year old venture called

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Speaker 1: Pluto TV is unique for one thing, it's free. Another,

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Speaker 1: subscribers can access over a hundred channels. No wonder. Pluto

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Speaker 1: has already reported over six million subscribers, which, in its

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Speaker 1: competitive slot, is saying a lot. I'm sure our next

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Speaker 1: guest is a lot to say about that. Welcome Pluto CEO,

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Speaker 1: Tom Ryan, Thanks for having me. No problem, Tom, I

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Speaker 1: I think when I tell people that you guys don't

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Speaker 1: have subscribers, there's some curiosity about the business. So why

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Speaker 1: don't you explain how you make money at Pluto? Sure?

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Speaker 1: Sure so, Um, we're entirely free and ad supported. Um.

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Speaker 1: So we deliver advertising. Uh and and we deliver um

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Speaker 1: that much like TV. It feels like TV advertising to

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Speaker 1: the viewer, but it's also targeted and addressable and and

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Speaker 1: sort of digitally delivered. So it combines the brand building

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Speaker 1: um power of television advertising with the addressable power of

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Speaker 1: digital advertising. But when we're talking about channels, we should

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Speaker 1: be clear these are not channels, as most people understand it.

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Speaker 1: On the traditional television dial you don't have CBS or HBO. Yeah,

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Speaker 1: So I'll explain a bit about the business we UM.

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Speaker 1: You know, we're a free internet TV service, as you said,

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Speaker 1: with over a hundred channels UM, as well as thousands

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Speaker 1: of TV shows and movies delivered on demand in a

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Speaker 1: familiar TV like guide UM that is free and delivered

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Speaker 1: over you know, just about every internet connected platform that matters, web,

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Speaker 1: mobile and connected TV. UM. You can think about the

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Speaker 1: business in two parts. On one hand, we're a virtual

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Speaker 1: m v P, D or UM sort of cable like

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Speaker 1: television service, So think a next generation comcast in that

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Speaker 1: we deliver over a hundred channels in the form of

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Speaker 1: an app UM to viewers to consume within that app

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Speaker 1: on any device. UM. But what makes us unique is

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Speaker 1: that we are also an Internet cable networks group, so

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Speaker 1: think a next generation Discovery UM or viacom in that UM.

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Speaker 1: We're not just a taker of channels UM, so not

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Speaker 1: just a taker of fully formed linear channels. Were actually

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Speaker 1: a maker of channels, and so we make UM the

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Speaker 1: vast majority of the channels on Pluto tv. UM. We

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Speaker 1: do that through a combination of sophisticated technology, curation, UM

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Speaker 1: and UM content that we've licensed from over a hundred

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Speaker 1: different media companies, including big movie studios like Lionsgate, Paramount, UM, MGM,

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Speaker 1: as well as UM TV companies like UM, CBS and NBC,

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Speaker 1: as well as any networks and scripts UM and we

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Speaker 1: deliver unique channels UM to our viewers UM and then

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Speaker 1: we also do take some channels, so we're a maker

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Speaker 1: of most to the channels, a taker of some of

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Speaker 1: the channels, and we pair that all up into a

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Speaker 1: hundred plus channel bundle that we deliver for free. So

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Speaker 1: it's really a two part business UM sort of a

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Speaker 1: virtual MVP d AT a AT a cable networks group

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Speaker 1: combined into one. But I want to clarify on the

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Speaker 1: cable networks group side, whereas viacom maybe owns the content

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Speaker 1: or a discovery owns the content, when you're making a channel,

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Speaker 1: you don't own the content. You're just making a deal

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Speaker 1: with the person who owns the content to take their

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Speaker 1: videos and constructed into a linear channel. That's correct. We

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Speaker 1: are licensing content from a hundred plus media companies and

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Speaker 1: we're creating most of the channels on Pluto with the

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Speaker 1: content that we've licensed. So talk about some channel examples,

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Speaker 1: because again, this is not stuff you get on TV,

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Speaker 1: although in some instances, if I'm correct, you're you are

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Speaker 1: dealing with a traditional TV channel programmer, but you're taking

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Speaker 1: some of their content and sort of remixing it in

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Speaker 1: a way that's different than what they can get on

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Speaker 1: linear TV. Uh. Yeah, that's right. I mean, because we're

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Speaker 1: the platform owner, the sort of virtual MVP D and

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Speaker 1: the cable networks group UM in one, we can go

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Speaker 1: both broad and deep. So we've got a very wide

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Speaker 1: variety of channels. Some of those are broadly genre UM

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Speaker 1: or subject matter UM oriented. Some of them get quite

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Speaker 1: niche and quite deep in terms of what they address

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Speaker 1: names some examples UM. Some examples would be UM. So

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Speaker 1: we've got of the channels that we make UM. We've

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Speaker 1: got channels that are owned and operated by Pluto under

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Speaker 1: Pluto brands. Examples of those would be News seven, which

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Speaker 1: curates the news from a dozen different news sources very

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Speaker 1: regularly throughout the day. UM gives different perspectives on the

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Speaker 1: same topic for for different news stories. We've got movie

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Speaker 1: channels Pluto Movies UM. Horror seven is a horror movie

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Speaker 1: channel UM. And we've got channels that are dedicated to

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Speaker 1: more niche subjects like geek and gamer oriented channel called

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Speaker 1: The Feed. UM. So those are some examples of the

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Speaker 1: Pluto owned and operated channels, but we also create channels

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Speaker 1: under UM media company brands. So NBC News has a

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Speaker 1: channel on Pluto where they are delivering US news throughout

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Speaker 1: the day that we're curating into an NBC News branded channel.

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Speaker 1: Scripts has a couple of channels on the platform UM

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Speaker 1: which are digital versions UM of of programming that they

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Speaker 1: already do. So there's a channel called Adventure TV, which

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Speaker 1: is in the travel category UM. And there's a channel

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Speaker 1: called UM front Door, which is in the home improvement category.

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Speaker 1: And so we're taking full length TV programming from Scripts

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Speaker 1: and UM we're delivering those through these unique channels that

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Speaker 1: they have on Pluto under these new brands UM. So

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Speaker 1: it depends really on the media company and how, you know,

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Speaker 1: it differs on how we work with them. But we're

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Speaker 1: creating Pluto owned and operated channels. We're also creating branded

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Speaker 1: channels UM. Sometimes we're creating new brands with media companies UM.

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Speaker 1: And you know, while we started out with a lot

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Speaker 1: of short form best of digital content, today the vast

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Speaker 1: majority of the content on Pluto either has been or

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Speaker 1: is currently on TV. It's long form premium TV content.

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Speaker 1: I mean, I approached this is kind of a snob

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Speaker 1: in the sense that I'm so used to you know,

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Speaker 1: I gotta have my CBS and HBO. But it's when

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Speaker 1: you say that you've got over six million subscribers that

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Speaker 1: I realize what you've got here is an interesting approach

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Speaker 1: to the market. Who is watching this? Are they cord cutters?

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Speaker 1: Are they doing it to supplement an existing pay TV

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Speaker 1: maybe all the above? Yeah, I mean, so what we've

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Speaker 1: built is actually broadly appealing to a wide variety of users.

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Speaker 1: As I said, we you know, we go both broad

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Speaker 1: and deep um. And so the majority of our users

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Speaker 1: are actually cord cutters or cord nevers, and they tend

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Speaker 1: to pair us with other O T T apps that

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Speaker 1: they use. UM, but a significant UM percentage of our

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Speaker 1: users have a pay TV subscription, whether that's a cable

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Speaker 1: TV bundle or whether that is a skinny bundle. And

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Speaker 1: so for the for the cord cutters and coordinevers, they

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Speaker 1: like us because we're a channel surfing free TV experience

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Speaker 1: with a wide variety of interesting channels that UM, they

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Speaker 1: can couple with a Netflix or a Hulu type of

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Speaker 1: experience where they are getting originals or catch up tv UM.

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Speaker 1: But we've got a lot of people who are actually

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Speaker 1: using us UM and basically expanding their bundle UM and again,

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Speaker 1: because most of the channels on Pluto are unique and

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Speaker 1: not available through your skinny bundle or your traditional cable provider, UM,

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Speaker 1: we allow you to expand your bundle UM for free

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Speaker 1: UM by over a hundred channels UM and and they're

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Speaker 1: by you've got just a greater channel offering than you

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Speaker 1: would have had UM. And I think there's a lot

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Speaker 1: of talk about how people UM don't want to pay

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Speaker 1: for hundreds of channels or they don't want hundreds of channels.

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Speaker 1: We think that that's not correct act UM. There's a

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Speaker 1: lot of contrarian theses we have about our business in

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Speaker 1: the tv UM landscape generally UM. But one of them

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Speaker 1: is is that that people actually like to have choice.

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Speaker 1: They it needs to be delivered to them in a

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Speaker 1: way that they can actually find the content that they

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Speaker 1: want and enjoy it. It also needs to be you

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Speaker 1: know that they get channels that UM you know if

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Speaker 1: particularly they're getting them for free and expanding their bundle

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Speaker 1: for free. UM. That's a great thing. People don't like

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Speaker 1: to pay for a lot of channels when they only

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Speaker 1: watch a few of them. And I think that's the

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Speaker 1: sort of the conventional UM wisdom that we're focused on.

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Speaker 1: So you're saying that that linear channel grid still has

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Speaker 1: some staying power. Yeah, I mean sort of. Traditional TV

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Speaker 1: did a lot of things right. It gave you a

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Speaker 1: place to go UM with a lot of great content.

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Speaker 1: It gave you channels that were programmed around UM particular

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Speaker 1: interests and genres UM that allowed you to be you know,

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Speaker 1: to just tune in and be entertained to great content. UM.

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Speaker 1: You know. I think one of the UM misconceptions over

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Speaker 1: the past few years is that everything is moving to

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Speaker 1: on demand. And one of our core thesis is actually

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Speaker 1: that UM, you know, the linear use case, the programmed

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Speaker 1: use case is alive and well and will remain alive

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Speaker 1: and well in the digital UM space because people, you know,

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Speaker 1: fundamentally want to be programmed too. There's plenty of times

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Speaker 1: when you know exactly what you want to watch, you're

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Speaker 1: happy to to search for it and then play it

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Speaker 1: on demand, and that works, you know, great for specific

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Speaker 1: types of content. I think that's where companies like Netflix

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Speaker 1: have done a great job. But a lot of time

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Speaker 1: you just want to turn on your your service dropped

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Speaker 1: into a channel and you know, let someone else do

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Speaker 1: the work for you so that you can just lean

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Speaker 1: back and be entertained. And that's one of the core

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Speaker 1: theses of the company. I believe what you're saying in

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Speaker 1: the short term. I think in the long term, however,

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Speaker 1: the linear channel grade is going to be replaced by

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Speaker 1: something that is a much more data driven sense of

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Speaker 1: what a viewers user habits are like. Is Pluto TV

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Speaker 1: set up for that kind of future or do you

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Speaker 1: just disagree with what I'm saying. No, I mean I

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Speaker 1: think that both are true. I think that, um, the

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Speaker 1: linear experience is great for certain types of content and

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Speaker 1: certain types of situations, which you know, I find to

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Speaker 1: be you know, and we believe are a significant use case.

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Speaker 1: But of course, um you know, you if you're going

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Speaker 1: to be successful, you need to be data driven. We're

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Speaker 1: a very data driven company. UM. In fact, our our EPG,

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Speaker 1: which does allow you to channel surf, which we electronic

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Speaker 1: program guide for those Our our guide, UM, you know,

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Speaker 1: is there because we do believe people still love to

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Speaker 1: channel surf in the numbers are bearing that out, but

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Speaker 1: we all already do things to UM surface channels to

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Speaker 1: you that we think that you'll like based on what

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Speaker 1: you've washed before. UM. We allow you to sort of customize,

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Speaker 1: personalize your God. So using data in order to deliver

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Speaker 1: the best possible linear experience is core of what we do.

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Speaker 1: In addition, you want to watch TV shows or movies

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Speaker 1: on demand, that's you know, the other sort of leg

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Speaker 1: of the stool for for Pluto, and that we give

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Speaker 1: you thousands of TV shows and movies to watch on

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Speaker 1: demand as well. How do you first see that traditional

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Speaker 1: linear world playing out in the next two to ten

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Speaker 1: years And do you think as your company grows, how

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Speaker 1: significant a decline, if at all, do you think we'll

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Speaker 1: see in that traditional pay TV world? Well, I mean,

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Speaker 1: if we're if we're saying linear as a proxy for

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Speaker 1: just pay tv, UM, I think that you know that

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Speaker 1: the numbers are are out there, and you know, probably

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Speaker 1: anyone listening to this podcast is probably familiar with the

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Speaker 1: acceleration in chord cutting and perhaps even you know more um,

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Speaker 1: you know, sort of more serious is the fact that

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Speaker 1: lots of younger people are not connecting the chord to

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Speaker 1: begin with. So, um, you know ordinever ring as they say, yes, UM,

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Speaker 1: so we find that, you know, I think we're benefiting

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Speaker 1: a lot from that trend. We're also UM trying to

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Speaker 1: provide our content partners with access to a lot of

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Speaker 1: folks who may not connect the cable UM and or

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Speaker 1: or may have cut the cable so that they can

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Speaker 1: experience that that In terms of the numbers, they appear

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Speaker 1: to be accelerating UM and uh. There's probably analysts who

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Speaker 1: are much closer to what they think those numbers are

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Speaker 1: than than I am. But it's definitely a big trend

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Speaker 1: UM and I think the the good news is there's

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Speaker 1: a huge mega trend around O T T consumption and

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Speaker 1: so I think a lot of the brands and a

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Speaker 1: lot of the the content creators that have been successful

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Speaker 1: in traditional pay TV UM can find great, big new

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Speaker 1: audiences through O T T. So there's this O T

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Speaker 1: T tidal wave. But the problem is is you're one

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Speaker 1: of many different kinds of offerings out there. How do

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Speaker 1: you see your competitive set? How do you think it's

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Speaker 1: going to change in the coming years. Um, Well, you know,

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Speaker 1: we we are one of many players, but I think

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Speaker 1: we're quite a differentiated player. There's UM. I think when

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Speaker 1: we launched the service live UM, there were everyone said

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Speaker 1: everything's going on demand and subscription is the only way

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Speaker 1: to do it. You know, we had a different opinion

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Speaker 1: about delivering a program linearized experience or leading with it

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Speaker 1: at least and also going free, which we also saw

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Speaker 1: as an under appreciated opportunity over the time or at

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Speaker 1: the time. So UM, it's true that there are you know,

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Speaker 1: there's now hundreds of subscription video on demand apps out there. UM.

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Speaker 1: Some have built really interesting businesses UM. I think others

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Speaker 1: struggle to acquire enough subs because the marketing challenge of

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Speaker 1: actually acquiring subscribers around certain types of content categories UM

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Speaker 1: is difficult. Some of those players are actually coming to

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Speaker 1: Pluto tv UM and they're actually creating linear Barker channels

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Speaker 1: that allow us to promote essentially what they do, give

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Speaker 1: them advertising revenue, and then serve as a promotional vehicle

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Speaker 1: to get them to convert to a paying subscriber UM.

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Speaker 1: So you know, I think in order to be competitive,

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Speaker 1: you need to have a differentiated product, which we do

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Speaker 1: in terms of the content offering. It's a lot of

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Speaker 1: content aggregated into one app, delivered in a way that

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Speaker 1: allows you to channel, serve and be entertained in a

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Speaker 1: lean back fashion. UM. And then we also are you know,

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Speaker 1: wherever we can finding ways to deeply integrate with with

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Speaker 1: partners so that we can actually deliver UM what we

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Speaker 1: do UM for them an example, what mean yeah, I

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Speaker 1: mean an example, and we're gonna have a number of

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Speaker 1: partnerships to announce UM this year. But an example is UM.

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Speaker 1: You know, while we while we sort of duke get

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Speaker 1: out in the app store with every other O T

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Speaker 1: T U app that's there, and we do pretty l

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Speaker 1: where number three free app for example on Roku, UM,

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Speaker 1: we are integrating plutos as a default free TV experience

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Speaker 1: UM into hardware and software platforms. So in the case

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Speaker 1: of Samsung UM, Samsung is has launched a product called

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Speaker 1: TV Plus UM, which you know, if you think about it,

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Speaker 1: you turn your TV on, and then there's this app

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Speaker 1: called TV Plus, which is the first app that you see. UM.

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Speaker 1: It's persistent there on the home screen, and Pluto is

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Speaker 1: powering the channels for that offering. So UM it's almost

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Speaker 1: in a way a service that is default embedded and

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Speaker 1: delivered in front of the app store. UM, so I think,

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Speaker 1: you know, back to your original question, I think you

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Speaker 1: need to have a differentiated product with great content UM

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Speaker 1: and a distribution strategy that allows you to get in

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Speaker 1: front of consumers in a very compelling and discoverable way.

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Speaker 1: And that's why we're focusing on all of these things.

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Speaker 1: You mentioned. Samsung, they're one of your investors. Tell us

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Speaker 1: more about who is behind you? Sure we So we

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Speaker 1: have raised two rounds of funding since since our inception UM,

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Speaker 1: we've raised over fifty million dollars in total. Our Series

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Speaker 1: A was in UH shortly after we launched, and that

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Speaker 1: was led by US venture partners in Silicon Valley UM

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Speaker 1: as well as a number of other vcs and UH

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Speaker 1: some strategics including sky UM. And then in the fall

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Speaker 1: ofen we raise our Series B, which had a variety

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Speaker 1: of strategic and investors including Proceben from Germany, UM, Scripts Networks, Samsung, UM,

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Speaker 1: and a lot of our existing investors pro Ratis. So

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Speaker 1: we've got, you know, good combination of financial investors UM

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Speaker 1: as well as strategic investors on the content and distribution side,

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Speaker 1: all of which have contributed pretty pretty significantly to the

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Speaker 1: growth of the company and helping us with content partnerships,

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Speaker 1: distribution partnerships and other help. But going back to what

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Speaker 1: you were saying about Samsung, that's not just another investor

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Speaker 1: when you consider what you were saying, if I'm getting

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Speaker 1: you right about the value of being baked into that

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Speaker 1: TV set, beyond just sort of sitting in this ocean

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Speaker 1: of apps that might be on a Roku platform to

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Speaker 1: have some great real estate that could be critical in

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Speaker 1: terms of driving future growth for the app. Now absolutely, absolutely,

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Speaker 1: like I said, we're doing very well as an app. UM.

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Speaker 1: Everyone needs to compete through a variety of tactics, UM.

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Speaker 1: In order to be a successful app. Most importantly, you

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Speaker 1: need a great product with you know, a great customer

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Speaker 1: offering including the content and how it's delivered. But people

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Speaker 1: gotta find you. But people do have to find you,

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Speaker 1: and so you need to ensure that you are discoverable

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Speaker 1: through you know, a variety of techniques. Fortunately for us

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Speaker 1: on the app side, UM, you know we have uh,

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Speaker 1: you know, a unique product which gets promoted heavily by

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Speaker 1: you know, not just content partners but distribution partners UM.

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Speaker 1: But of course where you can actually be deeply integrated

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Speaker 1: as the default experience really the you know, sort of

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Speaker 1: the primary player helping to power and experience for companies

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Speaker 1: that want to be in the business that you're in.

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Speaker 1: That's a great place to be. And you mentioned Roku.

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Speaker 1: I would imagine that to some degree they are obviously

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Speaker 1: a friend to the company in the sense that you're

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Speaker 1: a highly discovered app in their platform. But the other hand,

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Speaker 1: Roku also offers a ton of the same content that

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Speaker 1: is wrapped in to your app. So are they in

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Speaker 1: front of me of sorts? Well, again I go back

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Speaker 1: to you know, are having a real differentiated offering. So

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Speaker 1: pluto um has over a hundred channels of linear UM

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Speaker 1: sort of programming as well us thousands of TV shows

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Speaker 1: and movies on demand. The product is very different than

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Speaker 1: anything else out there. And I think the fact that

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Speaker 1: we've been the number three free app on Roku since

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Speaker 1: um sometime in Q three or Q four of last

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Speaker 1: year is a testament to the fact that UM Roku

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Speaker 1: users love um Pluto. UM Roku is a great partner

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Speaker 1: of ours UM and we work very closely with them. UM.

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Speaker 1: I think they've built a tremendous business UM and they're

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Speaker 1: clearly one of the leaders in the whole O T

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Speaker 1: T megatrend that's happening right now, UM you know. And

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Speaker 1: and moreover, in addition to being differentiated UM you know,

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Speaker 1: I think just as you're looking at this trend of

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Speaker 1: O T T with advertising dollars following eyeballs UM for

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Speaker 1: people to all the people who are watching UM you

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Speaker 1: know through ot T means there's you know, just this

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Speaker 1: big trend of consumers and advertisers moving UM in that direction.

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Speaker 1: And I think a rising tide lifts all boats. So

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Speaker 1: I think, you know, inevitably there's going to be you know,

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Speaker 1: some places where you overlap a bit with you know,

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Speaker 1: your your partners. But we're very excited about the relationship

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Speaker 1: that we have with them, the fact that we've got

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Speaker 1: a differentiated product from what they offer UM and the

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Speaker 1: fact that this is a really big, fast growing space

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Speaker 1: where there's gonna be a lot of winners, and I

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Speaker 1: think you being free is a big advantage in that space.

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Speaker 1: But I also wonder how much longer are you really

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Speaker 1: going to be free? I wonder if do you see

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Speaker 1: the next stage of growth as well? You're gonna have

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Speaker 1: to start getting some of the more premium channels, and

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Speaker 1: that's gonna involve passing a charge over to subscribers. Right. Well,

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Speaker 1: so nothing scales like free an instant. So the fact

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Speaker 1: that you can instantly have over a hundred channels in

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Speaker 1: an app, you know, the couple of clicks of you know,

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Speaker 1: an app store or a default experience. That way, we

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Speaker 1: may be powering UM that allows you to scale your

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Speaker 1: audience very rapidly. UM. And so AT is a great

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Speaker 1: place to be UM. We have long had a vision

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Speaker 1: for the company as being a global freemium TV service.

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Speaker 1: Uh So right now we're laser focused on the free opportunity.

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Speaker 1: We think it's been under appreciated opportunity, and we think

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Speaker 1: there's huge benefits to being a free service. Ultimately, free

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Speaker 1: is important. It gets you in the door, but people

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Speaker 1: walk right out of the door or back out the

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Speaker 1: door if if the product and the content aren't really good. UM.

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Speaker 1: But we have had this vision of being a freemium

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Speaker 1: service UM. And we think that at some point we

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Speaker 1: will launch some type of premium tier. UM. The faster

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Speaker 1: and the larger that we grow UM the funnel, if

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Speaker 1: you want to call it that of free users, UM,

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Speaker 1: the more people that we can convert to a premium

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Speaker 1: tier when we when we do launch that premium tier.

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Speaker 1: So so I could conceivably be a Pluto tv uh

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Speaker 1: user and then I'll take some h you with that,

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Speaker 1: or I don't know, was some new BuzzFeed channel that

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Speaker 1: hasn't been invented yet which would sort of mirror the

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Speaker 1: plan going on over at Amazon Channels where it seems

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Speaker 1: to be one of the key trends emerging in the

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Speaker 1: O T T space right now, is this notion of

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Speaker 1: a rebundling that some companies are meant to play the

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Speaker 1: role of the aggregator. Could Pluto b one, Absolutely, And

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Speaker 1: I think that there's a wide variety of ways in

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Speaker 1: which we could get into the premium um side of things. UM.

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Speaker 1: You know, ala carte up selling of channels is one way,

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Speaker 1: and I think Amazon has done a great job with that.

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Speaker 1: But like you mentioned with BuzzFeed, maybe there are new

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Speaker 1: bundles that have not yet been invented. UM. Maybe there's

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Speaker 1: opportunities to upsell um skinny bundles, whether created by us

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Speaker 1: for in partnership with one of the skinny bundle providers, UM,

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Speaker 1: so that you suddenly expand your Pluto bundle of a

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Speaker 1: hundred free channels into having dozens of additional pay TV

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Speaker 1: channels on top of that, all in one place. UM.

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Speaker 1: And you know, there's there's all sorts of different opportunities.

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Speaker 1: I think as we think about how the television industry

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Speaker 1: not only goes over the top, but gets bundled and

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Speaker 1: remixed into a completely new form than it was before.

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Speaker 1: And I think that's part of the excitement of being

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Speaker 1: in this space. Another opportunity for you guys as international.

404
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Speaker 1: Some of your backers are some pretty big overseas companies.

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Speaker 1: Will we see Pluto going overseas anytime soon? Yeah, we

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Speaker 1: actually have an office in Berlin, UM and UH. Like

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Speaker 1: I said, we've had ambitions not only to be a

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Speaker 1: freemium service over time, but to be global UM and

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Speaker 1: so UM we have a team in Berlin that has

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Speaker 1: been working on bringing Pluto to Europe and UM. As

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Speaker 1: you note, we've got great strategic investors over there as well.

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Speaker 1: So we see now that we've got the strategic leverage

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Speaker 1: of working with companies like Sky and Proceedin who can

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Speaker 1: be extremely helpful to us UM as leaders in their

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Speaker 1: fields in Europe as we expanded to Europe. UM, but

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Speaker 1: also you know, the operational leverage to start doing that

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Speaker 1: because a lot of our channels and content um work

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Speaker 1: for other markets. Of course, you know, to be successful

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Speaker 1: globally in TV, you also need to be very local,

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Speaker 1: So we need to bring on local content and local

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Speaker 1: channels too. But the channels, many of the channels can

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Speaker 1: travel well. Um. You know, we've built a technology platform

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Speaker 1: and a product that can travel well and so um

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Speaker 1: the combination of great partners and what we've already built

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Speaker 1: for the US market, I think puts US in a

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Speaker 1: good position to now start expanding abroad. How big is

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Speaker 1: the opportunity are we talking about? You know what we

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Speaker 1: saw out of Netflix where obviously they grew quite a

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Speaker 1: base in the US, but ultimately was, as we can see,

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Speaker 1: starting to get dwarfed by the international opportunity. Does the

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Speaker 1: day come We're plut is even a better known brand

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Speaker 1: outside the US. I absolutely do think the the opportunity

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00:25:06,720 --> 00:25:11,000
Speaker 1: outside of the US is huge, um it um. It's

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00:25:11,080 --> 00:25:14,360
Speaker 1: it's tough to say what percentage of our total business

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00:25:14,359 --> 00:25:17,960
Speaker 1: could come from outside of the US prior to to

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00:25:18,160 --> 00:25:21,680
Speaker 1: launching our first market outside of the US. But you know,

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00:25:21,840 --> 00:25:25,480
Speaker 1: TV is a big global industry, right and the US

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00:25:25,640 --> 00:25:28,320
Speaker 1: is um you know kind of less than the majority

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00:25:28,320 --> 00:25:30,320
Speaker 1: of that of course, So I think that you know,

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00:25:30,440 --> 00:25:32,480
Speaker 1: just with our business, if you think about us as

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00:25:32,520 --> 00:25:36,359
Speaker 1: a you know, a combination virtual MVP D and cable

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00:25:36,400 --> 00:25:41,040
Speaker 1: Networks group UM that can deliver this free and ultimately

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00:25:41,160 --> 00:25:45,720
Speaker 1: freemium TV service with unique channels UM in a variety

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00:25:45,720 --> 00:25:48,520
Speaker 1: of markets around the world, the you know, the business

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00:25:48,520 --> 00:25:53,080
Speaker 1: opportunity is massive and the international component of that UM

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00:25:53,200 --> 00:25:57,400
Speaker 1: is very significant. Well, look forward to watching your progress

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00:25:57,400 --> 00:25:59,280
Speaker 1: in the coming months and years. It's gonna be an

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00:25:59,320 --> 00:26:02,880
Speaker 1: interesting right Thanks for coming in, Tom, Thank you Eddie.

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Speaker 1: This has been another episode of Strictly Business. Tune in

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00:26:08,359 --> 00:26:11,919
Speaker 1: next week for another helping of scintillating conversation with media

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00:26:12,000 --> 00:26:14,879
Speaker 1: movers and shakers, and please make sure you subscribe to

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00:26:14,920 --> 00:26:19,200
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00:26:19,240 --> 00:26:21,520
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