Free ad-supported streaming TV (FAST) - Asia

Asia

Highlights

In Asia, revenue in the Free ad-supported streaming TV (FAST) market market is projected to reach US$2.21bn in 2024.
Revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 17.19%, leading to a projected market volume of US$4.89bn by 2029.
In a global context, the majority of revenue will be generated the United States, which is forecasted to reach US$5.24bn in 2024.
The average revenue per user (ARPU) in the Free ad-supported streaming TV (FAST) market market in Asia is anticipated to amount to US$4.52 in 2024.
In this market, the number of users in Asia is expected to total 545.0m users by 2029.
User penetration in Asia will be 10.8% in 2024, with expectations of reaching 11.7% by 2029.
In Asia, countries like India are witnessing a surge in free ad-supported streaming TV platforms, driven by increasing internet penetration and diverse content preferences.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Free ad-supported streaming TV (FAST) market in Asia is experiencing significant growth and development.

Customer preferences: Customers in Asia are increasingly turning to free ad-supported streaming TV platforms as a convenient and cost-effective way to access a wide range of content. With the rise of internet penetration and smartphone usage in the region, consumers are looking for on-demand entertainment options that offer flexibility and variety. The popularity of FAST platforms is also driven by the desire for personalized and curated content experiences, as well as the ability to watch shows and movies without the need for a subscription or cable TV package.

Trends in the market: One of the key trends in the FAST market in Asia is the emergence of local and regional players. While global platforms like YouTube and Pluto TV have a presence in the region, there is a growing number of homegrown streaming services catering to the specific preferences and tastes of Asian audiences. These local platforms often offer a mix of local and international content, including popular TV shows, movies, and original productions. This trend is driven by the desire to tap into the local market and provide content that resonates with Asian viewers. Another trend in the FAST market in Asia is the increasing adoption of advertising-supported models. As more viewers turn to these platforms for their entertainment needs, advertisers are recognizing the potential of reaching a large and engaged audience. Ad-supported streaming TV allows advertisers to target specific demographics and deliver personalized ads, enhancing the effectiveness of their campaigns. This trend is driven by the need for revenue generation in the highly competitive streaming market, as well as the desire to offer free content to viewers.

Local special circumstances: Asia is a diverse region with varying market dynamics and cultural preferences. Local special circumstances play a significant role in shaping the development of the FAST market in each country. For example, in countries like India and Indonesia, where internet access is still limited in some areas, mobile data costs are a key consideration for consumers. Therefore, platforms that offer low data consumption and offline viewing options are more likely to succeed in these markets. In addition, regulatory frameworks and government policies also influence the growth of the FAST market in Asia. Some countries have strict regulations on content distribution and advertising, which may impact the availability and monetization of streaming platforms. Local players need to navigate these regulations and adapt their strategies accordingly to ensure compliance and success in the market.

Underlying macroeconomic factors: The growth of the FAST market in Asia is also supported by underlying macroeconomic factors. The region has experienced rapid economic growth in recent years, leading to an increase in disposable income and consumer spending. As a result, more people are able to afford internet access and digital devices, creating a larger potential audience for streaming platforms. Furthermore, the COVID-19 pandemic has accelerated the adoption of digital entertainment in Asia. With lockdowns and social distancing measures in place, people have turned to streaming platforms for entertainment and escapism. This increased demand has further fueled the growth of the FAST market in the region. In conclusion, the Free ad-supported streaming TV (FAST) market in Asia is developing rapidly due to customer preferences for convenient and cost-effective entertainment options. Local and regional players are emerging to cater to the specific tastes of Asian audiences, and advertising-supported models are gaining traction. Local special circumstances and underlying macroeconomic factors also contribute to the growth of the market.

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., Consumer Insights Global 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.