USD 28 Billion FAST (Free Ad-Supported TV) Channels Market Hit by 2032 | Top Players such as - Xumo, Vudu & Plex

Cost-effective and accessible entertainment, coupled with targeted advertising, drives the growth of FAST (Free Ad-Supported TV) channels.

PORTLAND, PORTLAND, OR, UNITED STATE, December 6, 2023 /EINPresswire.com/ -- Allied Market Research published a new report, titled, " The USD 28 Billion FAST (Free Ad-Supported TV) Channels Market Hit by 2032 | Top Players such as - Xumo, Vudu & Plex." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global FAST (free ad-supported tv) channels market was valued at USD 6.9 billion in 2022, and is projected to reach USD 28 billion by 2032, growing at 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.

The FAST (Free Ad-Supported TV) channels market is segmented into type, content type, distribution platform, and region. By type, the market is differentiated into linear channels and video on demand. Depending on content type, it is fragmented into movies, music and entertainment, news, sports, and others. The distribution platform segment is divided into mobile applications and web-based channels. Region wise, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.

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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.

By type, the linear 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 content availability, cost-effectiveness, and evolving viewer preferences. Linear channels offer a curated programming schedule, similar to traditional TV channels. This format provides viewers with a familiar and convenient way to consume content. The availability of linear channels in the FAST market offers viewers a diverse range of programming options, including news, sports, entertainment, and lifestyle channels, thereby attracting a wider audience.

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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.

The key players operating in the FAST channels market analysis include Roku, Inc., Pluto TV, Tubi TV, Crackle, Xumo, Inc., Sling TV, Vudu, Plex, Peacock TV LLC, and Amazon.com, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the free ad-supported TV channels industry.

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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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