Why FAST Is Having a Moment — and What Comes Next
The economics behind the FAST channel explosion, why independent operators are now viable where they weren't five years ago, and where the category is heading over the next two years.
This is the first episode of SIGNAL — Vidiyo's editorial publication covering the FAST channel industry for the people building it.
We're starting with the big picture: why FAST is growing so fast, what's driving independent operators into the space, and where we think the category goes from here.
The numbers first
The global FAST market reached approximately $9.7–12.3 billion in ad revenue in 2025 by most analyst estimates, with North America representing roughly 90% of that total. Mordor Intelligence puts the 2025 global figure at $12.26 billion; Grand View Research estimates $11.50 billion for 2025 growing to $40.2 billion by 2033; other research firms range from $10–$13 billion depending on methodology. Whichever estimate you use, the direction is clear: FAST is growing faster than any other segment of the TV advertising market.
Note: market size estimates vary significantly by analyst and methodology. All figures above are from public research reports cited. Actual US-only figures are not separately published by most research firms; North America typically represents approximately 90% of the global figure.
FAST viewership is up too — US FAST viewing surged approximately 43% year-over-year through mid-2025, according to Apprupt's analysis of platform data, driven primarily by cord-cutters and cord-nevers who never had cable subscriptions to begin with.
The platforms are responding. Major device manufacturers have steadily expanded their built-in FAST offerings. Aggregator apps like Pluto TV now carry 250+ live channels in the US. Amazon heavily promoted its ad-supported tiers and folded its Freevee service into the main Prime Video experience.
The infrastructure costs that previously made FAST prohibitive for small operators have dropped dramatically over the past five years. Cloud HLS playout that cost tens of thousands per month in 2020 costs a few hundred dollars or less in 2025 — or free, if you're on a platform like Vidiyo.
Why now?
Five forces are converging:
1. Cord-cutting reached mainstream. By 2025, the majority of US households watch at least some streaming-first content. The "cord cutter" is no longer an early adopter — they're the median viewer. This audience is comfortable with FAST's linear format because many of them grew up with cable TV and find the "just put something on" lean-back experience familiar.
2. Streaming subscription fatigue is real. The average US household has 4-5 streaming subscriptions at $15-20 each. That's $80-$100/month before they've watched a single second of TV. Consumer tolerance for adding another subscription is low. Free, ad-supported alternatives are getting looked at with fresh eyes.
3. Platform proliferation creates distribution optionality. In 2019, FAST distribution meant Pluto TV and a handful of others. In 2025, there are 20+ platforms with meaningful FAST audiences. Samsung TV Plus ships pre-installed on every Samsung TV and reaches hundreds of millions of devices globally.
4. Cloud infrastructure reached the right price point. CDN costs, cloud transcoding costs, and managed HLS playout have all come down to the point where even a channel with 500 average viewers generates more in ad revenue than it costs to operate.
5. Programmatic ad demand recovered from its 2022-2023 downturn. After a rough couple of years, programmatic CTV CPMs have recovered and in some categories (news, sports, food) have set new records.
What kinds of channels are winning
Looking at the fastest-growing FAST channels in 2024-2025, a few patterns stand out:
Deep niche, not broad genre. "Cooking" channels compete with the entire cooking section of every major FAST platform. "Authentic Thai street food" channels don't compete with anyone. The internet has taught audiences to find incredibly specific content they love. FAST channels that go deep on a niche are outperforming broad genre channels for audience loyalty and time-per-session.
Catalog depth over production freshness. Channels with 500+ hours of quality catalog consistently outperform channels trying to publish fresh content daily. The linear format means catalog depth is infinitely more valuable on FAST than it is on YouTube. A 300-episode back catalog of documentary interviews becomes a high-quality linear channel. On YouTube, the 300th episode competes with the 1st for attention; on FAST, they're all scheduled programming.
Creator-to-channel conversions. YouTube channels, podcasters, and other digital content creators with established audiences are converting faster than expected into FAST channel operators. They arrive with built-in audiences who want to see their content in a TV format. The early cohort of creator-to-FAST conversions (2023-2024) is now showing 2-3x higher average session times than channels launched without a pre-existing audience.
News and analysis. The news category remains the highest-CPM category in FAST. Independent news outlets, local journalism operations, and vertical-specific news publications are finding genuine audiences and premium ad rates. The gap left by the collapse of local television news in the US is being partially filled by FAST operators.
The competitive moat question
The obvious question: if FAST channels are getting easier to launch, doesn't that mean the market fills up with mediocre content and everyone's revenue gets diluted?
The short answer is yes, this will happen in some niches. We're already seeing saturation in certain categories (classic film, 24-hour news loops with wire service content).
But the economics of FAST don't work like YouTube, where you're competing for the same algorithmic slot with ten thousand other channels. FAST channels aren't competing primarily with each other — they're competing with subscription TV and YouTube for the viewer's lean-back time.
The best-positioned operators are building content moats, not just schedules:
- Rights libraries. Operators who own or have multi-year licenses to deep content catalogs are building durable distribution assets. The content is the moat.
- Original programming with unique access. Interview shows with practitioners in specific industries, coverage of real events (not just news), documentary series about underserved topics. These generate content that can't be replicated.
- Community and audience ownership. FAST channels with loyal audiences who come back to specific programming (a weekly show, a recurring segment) are building a different kind of moat. Platform algorithms change; loyal audiences move with you.
What we think comes next
Platform consolidation will favor aggregators. As the number of FAST platforms stabilizes, the question for independent operators isn't "which platforms can I get on?" but "how much does each platform's audience actually translate to my CPMs?" Platforms with verified demographics and strong programmatic demand will win the operator competition; others will struggle.
Original content will matter more. As catalog libraries become more accessible (through licensing, public domain, creator conversion), original content becomes more differentiating. The channels that survive long-term in a saturated category will be the ones with programming that can't be replicated.
Direct buyer relationships will drive premium CPMs. Programmatic rates are volatile and always trending toward commoditization. The operators who build direct advertising relationships — sponsorships, branded content, direct-sold inventory — will have more stable and higher CPMs than those relying entirely on programmatic.
Cross-platform distribution will be table stakes. Being on Roku and Fire TV isn't a differentiator anymore. Samsung TV Plus, LG Channels, and Vizio WatchFree+ are increasingly important. Operators who aren't on all the major devices are leaving viewership on the table.
What this means for independent operators
If you're thinking about launching a FAST channel in 2026, the window of opportunity is real but narrowing in some niches. The categories with room for new operators:
- Deep niche content with no incumbent channel
- Creator-driven content with existing audiences in non-FAST-saturated niches
- Local and regional content with genuine community engagement
- Language-specific content for underserved linguistic communities in the US
- Original documentary and investigative content
The categories with high barriers for new operators:
- General entertainment (highly saturated)
- Classic film without a distinctive curation angle
- 24-hour news (requires significant production infrastructure)
- Sports without rights access
The infrastructure argument for launching now is strong: costs have never been lower, distribution has never been broader, and the ad market is healthy. The content argument is more nuanced: you need something real to say, not just a schedule.
Next on SIGNAL
Future episodes will go deep on specific parts of the FAST channel stack — monetization tactics from operators who've actually built things, distribution strategy from people who've navigated platform deals, and content development from creators who've made the transition from digital to linear.
If you're building a FAST channel and want to be on SIGNAL, reach out at signal@vidiyo.com.
If you're not yet building a channel and this has convinced you to start, Vidiyo is free to start — no credit card, no minimum commitment.
—The Vidiyo team
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