According to a recent forecast by Omdia, FAST revenues globally will triple between 2022 and 2027 to reach $12B. The United States will continue to be the largest FAST market, exceeding $10B in revenues by 2027. While the share of global FAST revenues in the U.S. currently stands at 90%, this is set to decline by four percentage points by 2027. According to Omdia, this will leave a $1.6B revenue opportunity in other markets.
Omdia forecasts that the second and third largest FAST markets will be the UK and Canada, which will be worth over $500m and $300m respectively. While the three largest FAST markets will all be English-speaking countries, Germany and Brazil will be in fourth and fifth place.
Maria Rua Aguete, Media and Entertainment Senior Director, Omdia, says: “FAST channels in Germany will generate just over $200m in [2027], when those in Brazil will hit revenues of $100m – representing around half of the total Latin American FAST market, which will be worth $207m in 2027. FAST revenue in Mexico will be $93m in 2027, making it the seventh-largest individual FAST market.”
Omdia believes that while the number of channels and revenue growth will be significant in the next five years, improving content discovery will be critical to the continued success of FAST services.
