Free ad-supported streaming TV (FAST) - South Korea

  • South Korea
  • The projected revenue in the Free ad-supported streaming TV (FAST) market) market in South Korea is estimated to reach €54.55m by 2024.
  • It is anticipated that the revenue will demonstrate an annual growth rate (CAGR 2024-2027) of 9.04%, resulting in a projected market volume of €70.72m by 2027.
  • When compared globally, United States is expected to generate the highest revenue, reaching €7,114.00m in 2024.
  • In terms of the average revenue per user (ARPU) in the Free ad-supported streaming TV (FAST) market) market, it is projected to amount to €5.38 in 2024.
  • Furthermore, the number of users in the market is expected to reach 11.1m users by 2027.
  • The user penetration rate is estimated to be 19.8% in 2024 and is predicted to increase to 21.6% by 2027.
  • South Korea's free ad-supported streaming TV market is booming, with a wide range of local content attracting a growing number of viewers.

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

Mercado
Región
Comparación de regiones
Moneda

Revenue

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Notes: Data was converted from local currencies using average exchange rates of the respective year.

Most recent update: Mar 2024

Fuente: Statista Market Insights

in billion EUR (€)

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Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

Most recent update: Mar 2024

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Most recent update: Mar 2024

Fuente: Statista Market Insights

Digital

Access more Market Insights on digital topics with our featured report

This report presents a comprehensive analysis and additional information on the Free ad-supported streaming TV (FAST) market, in a PDF format.
Going FAST: The return of linear TV - Background Going FAST: The return of linear TV - Cover

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.

Users

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Most recent update: Mar 2024

Fuente: Statista Market Insights

Global Comparison

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Most recent update: Mar 2024

Fuente: Statista Market Insights

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.

Key Market Indicators

The following Key Market Indicators give an overview of the social and economic outlook of the selected region and provide additional insights into relevant market-specific developments. These indicators, together with data from statistical offices, trade associations and companies serve as the foundation for the Statista market models.

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