The Free ad-supported streaming TV (FAST) market is experiencing significant growth and development worldwide. As consumers increasingly seek convenient and cost-effective ways to access their favorite content, the demand for free streaming services supported by advertisements has skyrocketed. This trend can be attributed to several key factors.
Customer preferences: One of the primary reasons for the growth of the FAST market is the evolving preferences of consumers. In today's fast-paced world, viewers are gravitating towards on-demand streaming platforms that offer a wide range of content options. Free ad-supported streaming TV services provide users with the flexibility to watch their favorite shows and movies at their convenience, without the need for costly subscriptions. This customer preference for free, ad-supported content has fueled the expansion of the FAST market.
Trends in the market: The FAST market has witnessed a surge in competition, with numerous streaming platforms entering the market to capitalize on the growing demand. These platforms offer a diverse selection of content, including movies, TV shows, and original programming. As a result, viewers have access to a vast library of entertainment options, catering to their individual tastes and preferences. This trend has led to increased engagement and loyalty among users, further driving the growth of the FAST market.
Local special circumstances: While the FAST market is experiencing global growth, there are certain local special circumstances that contribute to its development in specific regions. For example, in countries with limited access to traditional television networks or expensive cable subscriptions, free ad-supported streaming TV services provide an affordable alternative for consumers to enjoy high-quality entertainment. Additionally, in regions with a high level of smartphone penetration, mobile streaming platforms have gained popularity, allowing users to watch their favorite content on-the-go.
Underlying macroeconomic factors: Several macroeconomic factors have played a role in the growth of the FAST market. 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. 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. This symbiotic relationship between advertisers and streaming platforms has contributed to the expansion of the FAST market. In conclusion, the Free ad-supported streaming TV (FAST) market is experiencing substantial growth worldwide due to evolving customer preferences, the availability of diverse content options, local special circumstances, and underlying macroeconomic factors. As the demand for convenient and cost-effective streaming services continues to rise, the FAST market is expected to further expand and innovate to meet the evolving needs of consumers.
Data coverage:
Data encompasses enterprises (B2B). Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers video ad formats from services that offer free content supported with advertisements.Modeling approach:
Market size is determined by a combined top-down and bottom-up approach. We use market data from industry reports and survey results from our primary research (e.g., Statista Global Consumer Survey) to analyze the markets. Then we benchmark key countries or regions (United States, China, Europe, Asia, and Africa) results with country-specific advertising organizations or associations. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, internet users, and digital consumer spending.Forecasts:
We use a variety of forecasting techniques, depending on the behavior of the market. For instance, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.Additional notes:
Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.
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