Maria Rua Aguete
In the frame of MIPCOM 2024, Maria Rua Aguete, Head of Media and Entertainment at Omdia, highlighted Brazil’s rapid rise in the free ad-supported streaming TV (FAST) market. Projected to triple its FAST revenue from $119 million in 2024 to $303 million by 2029, Brazil is set to become the third-largest FAST market globally, surpassing Canada to take its place just behind the USA and the UK.
The executive also mentioned Global FAST revenue is expected to reach $11.7bn by 2029, growing from an expected value of $5.9bn in 2024 and the global FAST market will be dominated by the FAST services of CTV platform operators such as Samsung TV Plus and the Roku Channel. The value of hardware-driven platforms is expected to account for more than half of the market by 2029.
Omdia also projected The USA is to lead in FAST revenue, reaching $9.4 billion by 2029, while the UK is expected to more than double its revenue to $488 million.
On the other hand, Latin America boasts one of the highest shares of premium video advertising in FAST, driven by CTV platforms like Samsung TV Plus and LG Channels, as well as online players like Pluto TV. In Brazil, CTV platforms currently hold the largest market share and will significantly grow their installed base by 2029.
“Brazil’s FAST growth exemplifies the global shift to ad-supported streaming,” said Rua Aguete. “CTV manufacturers and online platforms are reshaping the landscape, positioning Brazil as a significant player in the FAST ecosystem.” FAST services like Pluto TV and Samsung TV Plus are currently among the top 10 most watched video platforms in the country.
Despite representing a relatively small proportion of the overall advertising market, FAST is set to outpace other segments in growth in the premium online video sector. "To have FAST channels that can be properly monetized, it is crucial to have attractive enough content to expand current-scale audiences. If audiences are big enough, it can be a profitable channel", said Rua Aguete.