FAST (Free Ad-Supported TV) Channels Market Is Projected To Reach $28 Billion By 2032

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FAST (Free Ad-Supported TV) Channels Market

The global FAST (Free Ad-Supported TV) channels market is driven by shift in consumer preferences, cost advantages, content variety, advertiser appeal, content

WILMINGTON, NEW CASTLE, DE, UNITED STATES, November 20, 2024 /EINPresswire / -- 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. The global FAST (free ad-supported tv) channels market was valued at $6.9 billion in 2022, and is projected to reach $28 billion by 2032, growing at a CAGR of 15.4% from 2023 to 2032.

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Based on type, the linear channels segment held the highest market share in 2022, accounting for more than four-fifths of the global FAST (Free Ad-Supported TV) channels market revenue , and is estimated to maintain its leadership status throughout the forecast period, owing to the content availability, advertising revenue, user engagement, cost-effectiveness, and evolving viewer preferences. However, the video on demand segment is projected to manifest the highest CAGR of 19.8% from 2023 to 2032, owing to the factors such as shifting consumer behavior, variety and flexibility of content, convenience and accessibility offered by FAST channels platforms.

FAST channels are ad-supported, free streaming television service that provides linear channels with pre-programmed ad breaks in between. These channels can be created by reorganising existing on-demand content catalogues as content playlists or programming grids. Many well-known brands have their own channels to monetize content through advertising and attract new consumers. Pluto TV, Xumo, Tubi, Peacock, The Roku Channel, IMDbTV, and Samsung TV+ are some of the most popular providers that provide FAST channels. FAST channels deliver regular linear TV channels to internet-connected devices such as CTV. FAST channels, unlike subscription models, are able to deliver these streaming services at no cost to the viewer by dynamically adding commercials into the would-be ad break. The advertisements tend to be skippable and non-skippable, with varying durations.

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The key players profiled in this report include

Amazon, Inc.,
Roku, Inc.,
Sling TV,
Peacock TV LLC,
Tubi TV,
Plex,
Crackle,
Pluto TV,
Vudu,
Xumo, Inc.

Consumer behavior has shifted significantly towards digital streaming and on-demand entertainment consumption . Traditional TV viewing is decreasing as people prefer the flexibility and convenience of streaming options. FAST channels meet this demand by providing free, ad-supported streaming choices, allowing viewers to enjoy a diverse range of material without the need for membership. Thus, shifting consumer behavior has fueled the growth of the free ad-supported TV channels market. Furthermore, a variety of content has significantly contributed to the expansion of free ad-supported TV channels market.

Region wise, North America dominated the market in 2022 and is considered to be the fastest-growing region during the forecast period. This was attributed to the popularity of streaming services, demand for free content, increase in connected TV devices, shift in advertising budgets towards digital platforms. Furthermore, the proliferation of connected TV devices, such as smart TVs, streaming media players (for instance, Roku, Amazon Fire TV), and gaming consoles, has contributed to the growth of the FAST channels market.

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Based on content type, the movies segment held the highest market share in 2022, accounting for more than one-third of the global FAST (Free Ad-Supported TV) channels market revenue, and is estimated to maintain its leadership status throughout the forecast period, as the movies segment provides a wide range of content, including blockbuster releases, independent films, classics, and genre-specific movies. This diverse offering drives the growth of the movies segment. However, the sports segment is projected to manifest the highest CAGR of 19.2% from 2023 to 2032, owing to the factors which include the popularity of live sports events, the increasing demand for sports-related content, and the unique advertising opportunities associated with sports programming.

By distribution platform, the web-based channels segment acquired a major share in 2022 and is attributed to be the fastest-growing segment during the forecast period. This is attributed to increasing internet penetration, shifts in consumer viewing habits, availability on multiple devices, diverse content offerings, and cost-effectiveness. Furthermore, advertisers are increasingly recognizing the potential of web-based channels for reaching their target audience. These platforms provide a data-rich environment that enables precise audience targeting and measurement of ad performance. Advertisers can leverage this data to deliver targeted advertisements to specific user segments, maximizing the effectiveness of their campaigns. The growing interest from advertisers has further driven the growth of web-based channels.

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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.

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