Free ad-supported streaming TV (FAST) channels will generate revenues of $6.3 billion in the current year, according to research from Omdia.
The United States, which is by far the largest market for FAST channels, will be responsible for 80% of revenues. However, Omdia predicts the UK, Canada, and Australia to be major growth contenders with rapid expansion expected over the next four years.
While the United States will continue to dominate the market, a $1.6bn revenue opportunity will emerge for FAST channels outside of the US by 2027. UK, Canada, Australia, Germany, Brazil, Italy, Mexico, France, Spain, and Sweden are the top ten markets outside of the United States.
According to Maria Rua Aguete Senior Director at Omdia: “Although three of the five-largest FAST markets are English-speaking nations, Canada, Germany, and Brazil, in third, fourth and fifth place, respectively, will offer mainstream FAST opportunities for non-English content.”
Earlier this year, Omdia reported that FAST revenue grew almost 20 times between 2019 and 2022 and is set to triple between 2022 and 2027 to reach $12 billion. Much of this growth will be driven by the US, which currently accounts for almost 90% of the global FAST channel market value. By 2027, the US FAST channel market will exceed $10 billion in revenue.
