Market Insights Digital Digital Media Video-on-Demand

Free ad-supported streaming TV (FAST) - Costa Rica

Costa Rica

Costa Rica is expected to witness a significant growth in its Free ad-supported streaming TV (FAST) market) market revenue.
It is projected to reach US$1.30m in 2024.
Furthermore, the market is anticipated to display a steady annual growth rate (CAGR 2024-2027) of 9.14%.
This growth trajectory will result in a projected market volume of US$1.69m by 2027.
When comparing in Costa Rica to other countries globally, it is important to note that United States will generate the highest revenue in the Free ad-supported streaming TV (FAST) market) market, with an estimated value of US$7,752.00m in 2024.
The average revenue per user (ARPU) in the Free ad-supported streaming TV (FAST) market) market is projected to amount to US$1.93 in 2024.
This figure represents the average revenue earned from each user in Costa Rica.
Looking ahead, it is expected that the number of users in the Free ad-supported streaming TV (FAST) market) market will witness a significant increase.
By 2027, the number of users is projected to reach 0.7m users in Costa Rica.
When considering user penetration, it is important to note that in 2024, the penetration rate will be 12.8%.
This figure represents the proportion of the population that are users of Free ad-supported streaming TV (FAST) market).
By 2027, it is projected to decrease slightly to 12.7%.
In conclusion, Costa Rica's Free ad-supported streaming TV (FAST) market) market is poised for growth, with projected increases in revenue, market volume, and user base.
Costa Rica's burgeoning digital advertising landscape is driving the growth of Free ad-supported streaming TV (FAST) platforms in the country.

Key regions: China, United Kingdom, Japan, South Korea, United States

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Analyst Opinion

The free ad-supported streaming TV market is currently experiencing significant growth, as more viewers look for cost-effective alternatives to traditional cable TV. To keep up with demand, many services are expanding their content offerings, including original programming and live sports. Additionally, the use of targeted advertising is becoming more sophisticated, with services leveraging data and analytics to deliver personalized ad experiences to viewers. As a result, the free ad-supported streaming TV market is expected to continue to grow and evolve in the coming years.

The free ad-supported streaming TV market is being driven by a number of key factors. First, the rise of connected devices like smart TVs, streaming boxes, and mobile devices has made it easier for viewers to access free streaming content. Additionally, the availability of high-quality content from established networks and studios has made free streaming services more appealing to viewers. Furthermore, advancements in ad targeting and personalization have made it easier for advertisers to reach specific audiences, driving increased investment in the free ad-supported streaming TV market. Finally, the growing trend of "cord-cutting" - or canceling traditional cable TV subscriptions - is expected to continue, further fueling growth in the free ad-supported streaming TV market.

The free ad-supported streaming TV market is expected to continue its growth trajectory in the coming years, growing at a CAGR of 9.10% until 2027.

Methodology

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.