Portland, OR , Aug. 02, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “FAST (Free Ad-Supported TV) Channels Market by Type (Linear Channels and Video on Demand), Content Type (Movies, Music and Entertainment, News, Sports, and Others), and Distribution Platform (Mobile Applications and Web-based Channels): Global Opportunity Analysis and Industry Forecast, 2022-2032”. 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.
Prime determinants of growth
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.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $6.9 billion |
| Market Size in 2032 | $28.0 billion |
| CAGR | 15.4% |
| No. of Pages in Report | 245 |
| Segments covered | Type, Content Type, Distribution Platform, and Region. |
| Drivers | Growth in advertising opportunities. Content partnership and aggregation. Platform expansion and accessibility. Cost advantage and variety of content. |
| Opportunities | Increase in demand for streaming content. Rise in connected TV devices. |
| Restraints | Limited content offerings Monetization challenges Bandwidth and infrastructure limitations |
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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The linear channels segment to maintain its dominance throughout the forecast period
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.
The movies segment to maintain its leadership status throughout the forecast period
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.
The web-based channels segment to maintain its dominance throughout the forecast period
Based on distribution platform, the web-based channels segment held the highest market share in 2022, accounting for more than three-fifths of the global FAST (Free Ad-Supported TV) channels market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the rise in the global internet penetration which allows a wider audience to access web channels. However, the mobile and desktop applications segment is projected to manifest the highest CAGR of 18.5% from 2023 to 2032, owing to the widespread adoption of smartphones that allow users to access their favorite TV shows, movies content, and others anytime and anywhere. This flexibility has attracted many viewers who want to watch content on their mobile devices while traveling, or during breaks.
North America to maintain its dominance by 2032
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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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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