A successful (and fittingly derivative) example would be Pluto TV, a startup founded in 2013 that received early CVC investment from Universal Music Group, Sky, and UTA Ventures, among other traditional VC firms. Pluto TV’s “innovation” was to recreate the linear cable television interface of curated channels but with streaming video. In 2019, it was acquired by Paramount (then Viacom) for $340 million.

Andrew deWaard, Derivative Media, loc. 153