Free ad-supported streaming TV (FAST) - India

India

Highlights

In India, revenue in the Free ad-supported streaming TV (FAST) market market is projected to reach US$140.60m in 2024.
Revenue in this market is expected to exhibit an annual growth rate (CAGR 2024-2029) of 18.76%, leading to a projected market volume of US$332.10m by 2029.
In a global context, the highest revenue is anticipated to be generated the United States, amounting to US$5.24bn in 2024.
The average revenue per user (ARPU) in the Free ad-supported streaming TV (FAST) market market in India is projected to reach US$1.06 in 2024.
Furthermore, the number of users in the Free ad-supported streaming TV (FAST) market market in India is expected to total 152.4m users by 2029.
User penetration in India will be 9.2% in 2024 and is anticipated to increase to 10.1% by 2029.
In India, the burgeoning popularity of FAST services reflects a growing consumer preference for cost-effective, ad-supported viewing options amid rising digital media consumption.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Free ad-supported streaming TV (FAST) market in India has been experiencing significant growth in recent years.

Customer preferences: Indian consumers have shown a growing interest in streaming TV content, driven by factors such as increasing internet penetration, affordable data plans, and the availability of a wide range of content options. With the rise of smartphones and smart TVs, consumers are increasingly looking for convenient and on-demand entertainment options. The ad-supported model of FAST platforms appeals to price-conscious consumers who are looking for free content without the need for a subscription.

Trends in the market: One of the key trends in the Indian FAST market is the emergence of local and regional content. As India is a diverse country with multiple languages and cultures, there is a strong demand for content in regional languages. FAST platforms are catering to this demand by offering a wide range of regional content, including movies, TV shows, and web series. This has helped in attracting a larger audience and increasing engagement on these platforms. Another trend in the market is the increasing focus on original content. FAST platforms are investing in creating their own original shows and movies to differentiate themselves from competitors and attract viewers. This trend is driven by the success of original content on other streaming platforms and the desire to offer unique and exclusive content to users. By producing original content, FAST platforms are able to build a loyal user base and increase user retention.

Local special circumstances: India has a highly competitive media and entertainment industry, with traditional TV channels, OTT platforms, and FAST platforms vying for viewership. The presence of established players in the market has led to intense competition, with platforms offering a variety of content and features to attract users. Additionally, the Indian market is price-sensitive, and consumers are more likely to choose platforms that offer free or affordable content.

Underlying macroeconomic factors: India has witnessed rapid internet penetration in recent years, with a large number of people gaining access to the internet for the first time. This has been facilitated by the availability of affordable smartphones and data plans. The increasing internet penetration has created a favorable environment for the growth of the FAST market, as more people have the means to access and consume streaming content. Furthermore, the Indian government's Digital India initiative, which aims to transform India into a digitally empowered society, has also played a role in the growth of the FAST market. The initiative has focused on improving internet connectivity in rural areas and promoting digital literacy, which has helped in expanding the user base for streaming platforms. In conclusion, the Free ad-supported streaming TV (FAST) market in India is developing rapidly due to the preferences of Indian consumers for convenient and affordable entertainment options. The availability of regional and original content, intense competition among platforms, and favorable macroeconomic factors such as internet penetration and government initiatives have all contributed 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.