FAST Channel Revenue to Reach $6.3 Billion in 2023

Free ad-supported streaming TV (FAST) channels will generate revenues of $6.3 billion in 2023, according to Omdia. With the largest market of FAST channels, 80% of revenue is expected from the US. However, Omdia’s exclusive research has revealed that the UK, Canada, and Australia are major growth contenders with rapid expansion expected over the next four years.

The UK, Canada, Australia, Germany, Brazil, Italy, Mexico, France, Spain, and Sweden are the top ten non-US markets poised for growth. While the US will continue to dominate the market, a $1.6 billion revenue opportunity will emerge for FAST channels outside of the US by 2027. “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,“ said Maria Rua Aguete, Senior Director at Omdia

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. The UK and Canada, which enjoy a significant overspill of content from the US, will have FAST markets worth over $500 million and $300 million, respectively, by 2027.

Meanwhile, Omdia forecasts that FAST channels in Germany will generate just over $200 million in the same year, while those in Brazil will hit revenues of $100 million, representing around half of the total Latin American FAST market, which will be worth $207 million in 2027. FAST revenue in Mexico will be $93 million in 2027, making it the seventh-largest individual FAST market. “$12 billion in revenues for FAST channels is impressive, but when viewed in the wider context of online video, social video remains the growth story for the next five years. FAST channels are another window to monetize content but not the only one,“ concluded Rua Aguete.