Free Ad-supported Streaming TV Market Size, Share & Trends Analysis Report By Type, By Device Type (Smart TVs, Mobile Devices), By Content Type, By Region, And Segment Forecasts, 2024 - 2030

Market Size & Trends

The global free ad-supported streaming TV market size was estimated at USD 8.03 billion in 2023 and is estimated to reach at a CAGR of 23.0% from 2024 to 2030. The market is currently experiencing significant growth, as more viewers look for cost-effective alternatives to traditional cable TV. To meet growing demand, many services are broadening their content offerings, including original programming and live sports. Additionally, targeted advertising is becoming increasingly advanced, as services utilize data and analytics to provide viewers with highly personalized ad experiences. As a result, the market is expected to continue to grow and evolve in the coming years.

Several significant macroeconomic factors, the increasing availability of high-speed internet connections, and advancements in streaming technology have made it easier for consumers to access and enjoy streaming content and have played a major role in the growth of the FAST market. Additionally, the rise of digital advertising and the shift in advertising budgets towards online platforms have incentivized streaming services to offer free content supported by advertisements. Furthermore, the market is experiencing substantial growth worldwide due to evolving customer preferences, the availability of diverse content options, local special circumstances, and underlying macroeconomic factors. With the increasing demand for convenient and affordable streaming services, the FAST market is poised to grow and innovate further to meet the evolving needs of consumers.

The cost advantage of FAST channels over traditional pay-TV services is a key driver behind the growth of the free ad-supported TV market. Various customers are seeking for reasonable substitutes to expensive cable or satellite TV. FAST channels propose a free approach to a diverse range of content, including movies, TV shows, news, and sports, making them attractive to budget-conscious viewers. These channels feature content from both traditional broadcasters and digital-native creators, providing audiences with a wider selection than conventional TV channels. This variety appeals to viewers with diverse interests, boosting engagement and fueling market growth.

Type Insights

The linear channel segment accounted for the largest revenue share in 2023. This segment is experiencing robust growth, driven by their familiarity, rapid expansion, acquired content, and the importance of user experience in an increasingly competitive market. Moreover, FAST services can quickly develop and launch new linear channels to accommodate shifting audience demand. For instance, In June 2023, NBCUniversal revealed plans to launch 48 new FAST channels on Amazon Freevee and Xumo Play, highlighting the flexibility of this market. For the first time, viewers can enjoy programming across all NBCUniversal genres, featuring popular titles and categories, available anytime at no extra cost. Similarly in July 2023, Virgin Media O2 has launched free ad-supported streaming TV channels, partnering with leading entertainment networks to introduce a range of new Free Ad-Supported Streaming Television (FAST) channels.

The Video-On demand segment is predicted to foresee significant growth from 2024 to 2030. The growth of VOD in the market is fueled by the rise of platforms like Tubi, Pluto TV, and The Roku Channel, which offer extensive libraries of movies, TV shows, and original content without requiring a subscription fee. As viewers seek alternatives to subscription fatigue, the appeal of free, ad-supported content continues to grow. For instance, Tubi has successfully integrated both linear channels and on-demand options, allowing users to enjoy a continuous stream of content while also providing the ability to choose specific shows or movies. Moreover, the VOD segment in FAST services is benefiting from advancements in targeted advertising, which enhances the monetization potential for content providers. By leveraging viewer data, advertisers can deliver personalized ads that resonate more effectively with audiences, improving engagement and driving revenue.

Device Type Insights

The smart TVs segment led the market and accounted for 48.4% of the global revenue in 2023. Smart TVs from major brands like Samsung, LG, TCL, Xiaomi and others are increasingly offering pre-installed FAST channels alongside popular OTT services. These FAST channels offer a wide range of content, including news, entertainment, food, and lifestyle programming, appealing both viewers and advertiser. The rise of FAST channels on smart TVs is due to, the rapid increase in broadband connectivity and the dominance of smart TVs in the market have created a favorable environment for FAST services. Additionally, the availability of a vast library of content from TV networks has enabled the growth of FAST channels, as they can leverage existing content libraries

The mobile devices segment is estimated to grow significantly from 2024 to 2030. Mobile devices enable users to watch FAST channels anytime and anywhere, making it a convenient option for those with busy lifestyles. The user experience on mobile is enhanced by features like personalized recommendations and easy navigation, which mimic the linear TV experience while allowing for on-the-go viewing. Advertisers are increasingly drawn to mobile FAST channels because they can deliver targeted ads based on user behavior and preferences, making them more effective than traditional TV advertising. 

Content Type Insights

The movies segment led the market and accounted for 23.7% of the global revenue in 2023. Increased accessibility through connected devices, such as smartphones and tablets, has made it easier for users to access FAST services, allowing them to consume content anytime and anywhere, which significantly boosts user engagement and viewership. FAST services leverage their partnerships with major studios and extensive libraries to offer a wide variety of films, ranging from recent releases to classic titles.

This diverse selection caters to the preferences of viewers seeking free access to movies without the need for a subscription. The availability of movies on FAST channels provides an attractive alternative to traditional cable TV and subscription-based streaming services. By offering a curated selection of films supported by advertising revenue, FAST platforms make it possible for viewers to enjoy high-quality content without incurring additional costs. While the movie offerings on FAST channels may not always include the latest blockbusters, they often feature a mix of popular titles and niche films that may be harder to find on other streaming platforms. This variety helps to attract a diverse audience and keeps viewers engaged with the content.

The sports segment is estimated to grow significantly from 2024 to 2030. The sports segment within the market is emerging as a significant growth driver, attracting a large and engaged audience. FAST platforms are increasingly offering live sports events, highlights, and analysis, catering to the growing demand for accessible and cost-effective sports content. The live nature of sports programming creates a sense of urgency and excitement among viewers, leading to higher engagement rates and increased advertising opportunities. FAST services are able to leverage partnerships with sports leagues, teams, and media rights holders to secure live and on-demand sports content, which is then delivered to viewers on various devices, including smart TVs and mobile devices.

Regional Insights

North America free ad-supported streaming TV market accounted to hold significant share in the market and accounted for a 31.8% share in 2023. The growth of North American market is driven by several key factors that collectively contribute to its robust expansion. Consumers are increasingly seeking free entertainment options due to rising costs of living and subscription fatigue, making FAST services an attractive alternative to traditional cable and paid streaming platforms. Furthermore, technological advancements, such as improved streaming technology and infrastructure, have made it easier for FAST channels to deliver high-quality content, facilitating seamless access to a growing library of channels and programming.

U.S. Free Ad-supported Streaming TV Market Trends

The U.S. free ad-supported streaming TV market is accounted to hold highest revenue share from 2024 to 2030, driven by several factors, including the rising demand for cost-effective entertainment options as consumers seek alternatives to traditional cable subscriptions. With the proliferation of connected devices such as smart TVs and streaming boxes, accessing free streaming content has become more convenient, further boosting viewership.

Europe Free Ad-supported Streaming TV Market Trends

The adoption of free ad-supported streaming TV solutions in Europe is particularly strong. This growth is driven by changing consumer preferences as viewers increasingly opt for cost-effective alternatives to traditional cable or satellite TV subscriptions. The appeal of FAST services lies in their flexibility and convenience, allowing access to a wide range of content on multiple devices, including smartphones, tablets, and smart TVs. A significant percentage of viewers in countries like the UK, Germany, and Italy now prefer lower-cost plans that include advertisements. In the UK, significant number of users expressed a preference for cheaper ad-supported plans, while similar trends are observed in other major markets. This shift in consumer behavior reflects a broader trend towards ad-supported streaming, as viewers prioritize affordability and flexibility in their entertainment options.

Asia Pacific Free Ad-supported Streaming TV Market Trends

The Asia-Pacific Free Ad-supported Streaming TV (FAST) market is experiencing rapid growth, driven by the region's increasing demand for affordable, diverse content and the expansion of internet and mobile penetration. As mobile-first markets and the rollout of 5G networks make streaming more accessible, FAST services provide a cost-effective alternative to subscription-based models, appealing especially in price-sensitive regions. The appeal of localized and multilingual content, along with advancements in targeted digital advertising, further fuels the market's expansion.

Key Free Ad-Supported Streaming TV Company Insights

Prominent firms have used product launches and developments, followed by expansions, mergers and acquisitions, partnerships, and collaborations contracts, and agreements, as their primary business strategy to increase their market share. The companies have used various techniques to enhance market penetration and boost their position in the competitive industry. For instance, In April 2024, Amazon Live will debut an interactive and shoppable channel on Prime Video and Amazon Freevee. This new 'Amazon Live' FAST Channel will showcase popular and widely-loved content from Amazon Live, featuring fan-favorite creators and brands such as Ashley Iaconetti and Jared Haibon, Madison LeCroy, Rachel Clark, Tastemade, Haley Kalil, The Bump, and more.

Recent Developments

• In August 2024, Anoki Inc., a pioneer in AI-powered contextual CTV advertising was strategically partnered with Amagi, a global provider of SaaS technology for Smart TVs and Connected TV (CTV). This dynamic partnership boosts the expansion of contextual advertising for Free Ad-Supported Streaming TV (FAST), representing a major advancement in the AI-driven evolution of the CTV industry. By incorporating with Amagi, ContextIQ platform of Anoki’s leverages multi-model generative AI to produce contextual, scene-level metadata on select content served by Amagi, going well beyond traditional genre and text analysis.

• In June 2024, Real Juice Media (RJM) has revealed its FAST network, Telephone TV. This launch is supported by strategic partnerships with leading ad tech companies, which enhance Telephone TV's channel environment and offer omni-channel extensions for both creators and advertisers. These partnerships introduce AI-driven tools and contextual targeting to the platform, enhancing brand suitability and content relevance

Free Ad-supported Streaming TV Market Report Scope

Global Free Ad-supported Streaming TV Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global Free Ad-supported Streaming TV (FAST) market report based on type, device type, content type, and region:

• By Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Linear Channel

  • Video-on-demand

• By Device Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Smart TVs

  • Mobile Devices

  • Others

• By Content Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Movies

  • Music & Entertainment

  • News

  • Sports

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • UK

    • France

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

  • Latin America

    • Brazil

    • Mexico 

  • Middle East and Africa (MEA)​​​​​​​

    • Kingdom of Saudi Arabia

    • UAE

    • South Africa