Press release
FAST (Free Ad-Supported TV) Channels Market to Hit US$ 28 Billion : Industry Overview, Analysis, Futuristic Trend By 2032
FAST (Free Ad-Supported TV) Channels Market
According to the report, the global FAST (Free Ad-Supported TV) channels industry generated $6.9 billion in 2022, and is anticipated to generate $28 billion by 2032, witnessing a CAGR of 15.4% from 2023 to 2032.
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The global FAST (Free Ad-Supported TV) channels market is driven by shift in consumer preferences, cost advantages, content variety, advertiser appeal, content, and improved technology and distribution. However, limited content offerings, monetization challenges, and bandwidth and infrastructure limitations hamper the market growth. On the contrary, the increase in demand for streaming content and growth in connected TV devices are major factors offering potential growth opportunities for the market.
Covid-19 scenario
The COVID-19 pandemic increased viewership and the shifting advertising landscape created opportunities for the FAST (Free Ad-Supported TV) channels market growth.
The pandemic accelerated the adoption of streaming services, with many people turning to platforms such as Roku, Xumo, Pluto, and others for entertainment during lockdowns. These FAST channels offer free streaming services, hence impacting the overall growth of the streaming industry during the pandemic.
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Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than three-fourths of the global FAST (Free Ad-Supported TV) channels market revenue, owing to the increasing popularity of streaming services, demand for free streaming contents, the rise of connected TV devices, and the shift in advertising budgets towards digital platforms. However, the Asia-Pacific region is expected to witness the fastest CAGR of 23.3% from 2023 to 2032, owing to the increase in internet penetration, driven by improved connectivity infrastructure and affordable smartphones. This has resulted in a larger online audience base, providing a strong foundation for FAST channels to reach a wider audience.
The increase in demand for free streaming content, the widespread availability of content variety, advertiser appeal, and improved technology and distribution drive the growth of the FAST (Free Ad-Supported TV) channels market. These factors collectively contribute to the increasing popularity and growth of ad-supported streaming services, providing viewers with a free alternative to traditional TV while offering advertisers a highly engaged audience for targeted advertising.
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Leading Market Players: -
Roku, Inc.
Pluto TV
Tubi TV
Crackle
Xumo, Inc.
Sling TV
Vudu
Plex
Peacock TV LLC
Amazon.com, Inc.
The report provides a detailed analysis of these key players of the global FAST (Free Ad-Supported TV) channels market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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