Nas is making big money moves in 2019. Viacom on Tuesday announced the purchase of the veteran rapper’s Queensbridge Venture Partners streaming service, Pluto TV, for $340 million, according to Complex.
Viacom, the mass media company, announced the acquisition in a release on Business Wire. Pluto TV, which was founded in 2013, is the leading free streaming television service in the country, the release stated.
“Today marks an important step forward in Viacom’s evolution, as we work to move both our company and the industry forward,” Viacom President and CEO Bob Bakish said in the release. “Pluto TV’s unique and market-leading product, combined with Viacom’s brands, content, advanced advertising capabilities and global scale, creates a great opportunity for consumers, partners and Viacom.”
The streaming service is supported by ads and internet-based TV features, with world-class programming sourced from 130 partnerships with TV and media networks, including film and television studios.
Twelve million users plug into Pluto TV monthly, and out of that number 7.5 million are connected to TVs streaming through devices such as Amazon Fire TV, Android TV and Apple TV. Pluto TV will be eventually accessible to millions of other devices in the next months.
Pluto TV joins the list of other startups such as rideshare service, Lyft, digital media company, Genius, file hosting service, Dropbox and other companies the hip-hop legend invested in early, Complex noted.
Nas is in the midst of a custody battle with ex-wife Kelis, who wants to take their 9-year-old son with her in a move to Colombia to become a farmer, TMZ reported Thursday.
Despite the custody battle, he seems ready to settle down again. He appeared to celebrate the Pluto TV sale with a simple statement on Instagram: “I need a wife.”