Streaming of TV content in 2023 surpassed the traditional, legacy viewing methods.  Connected TV streaming is now the primary way to consume video content.

One of the main reasons for this switch is the rise of FAST (Free Ad-Supported TV) services.  The proliferation of FAST services and increased awareness of them by TV viewers will mean continued growth of this media sector. According to Nielsen, in 2023 the average adult used 11 streaming services, including many FAST services such as Pluto and Tubi.

Even viewers who claim to be ad-intolerant, will watch free ad-supported TV to watch the content they want.  In a Tivo Video Trends report, 75% of respondents said they were ad-favorable or ad-tolerant and 59% of respondents claiming to be ad-intolerant view programming on FAST networks.

 

Approximately one-third of the U.S. population and 44% of OTT viewers will watch FAST services in 2024.  Although the experience watching FAST TV isn’t quite like watching traditional TV, the concept has found an eager audience in the U.S.  Maybe because the price is right (free!) compared to traditional or digital pay TV.  Whatever the appeal is, FAST services aim to replace these other forms of TV services.

When it comes to FAST services, Roku leads but Freevee is growing the fastest.  Most FAST services are available via any internet-connected screen, but Roku’s connected TV (CTV) leadership gives it an edge.  Roku’s CTV devices and smart TV operating system are very popular and give users an immediate, frictionless way to watch the Roku Channel.  This differentiates Roku from the otherwise very similar FAST services on the market and helps explain its viewership advantage.