FAST TV- Once a joke, now the new standard for mass reach in CTV
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In the world of CTV, or Connected TV, FAST TV stands for “Free Ad Supported TV.” This is a form of TV Content that is free to consumers, and content is paid for by Advertising.
Below are some top FAST TV providers:
Pluto TV- Owned by Paramount
Tubi – Owned by FOX
Amazon FreeVee
Google TV- “FreePlay”
Samsung TV Plus (If you own a Samsung TV)
Roku Channel (If you own a Roku Device)
Vizio WatchFree (If you own a Vizio TV)
The first FAST Network--Pluto TV—was founded in 2013 (Source: Crunchbase- Pluto TV) and was co-founded and launched by Tom Ryan, and Ilya Pozin in 2014 (Source: Inc- This Dad Started a Streaming Service So He Could Find Decent Shows for His 2-Year-Old. 5 Years Later, Viacom Bought It for $340 Million) .
PlutoTV basically started by purchasing the TV rights of programming that was no longer of high value to other TV Networks and content providers. They then bundled the content into channels to mirror the traditional Cable TV and Satellite TV models, and started offering this content to users for free through the Pluto TV App, and on the website. By offering the content free of charge, Pluto TV was able to able to quickly gain a high number of active users and monthly unique visitors, which provided an opportunity to reach consumers at mass reach through advertising, similar to the traditional “Big Three” Broadcast Networks- CBS, ABC, and NBC. Since there is mass scale and reach on PlutoTV, Advertising provided high value to its advertisers. *The Co-Founders of PlutoTV sold the company to Viacom for $340 million in 2019 (Source: Inc- This Dad Started a Streaming Service So He Could Find Decent Shows for His 2-Year-Old. 5 Years Later, Viacom Bought It for $340 Million) .
When PlutoTV first launched, it was not well respected in the industry because the content was “Free” and may have been considered “Less Valuable” by some in comparison to traditional broadcast content, and content from Cable and premium TV Networks such as ShowTime, and HBO.
However, the mass reach that PlutoTV offered provided infinite scale and opportunity for advertising given that PlutoTV less barriers to entry than other streaming providers. As of “April 2023, PlutoTV had 80M Monthly Active Users.” (Source: 10 Years Of Pluto TV And How The Underdog Became An Industry Leader)
PlutoTV may not have been seen as a top tier content provider, but their value was undeniable, and others took notice. Other companies soon followed suit in the market, using the same business model— and there are now a variety of FAST TV options. Take a look at the evolution of the FAST TV Market:
Tubi- Founded in 2014 (Source: Crunchbase- Tubi TV)
Samsung TV Plus – Founded in 2015 (Source: Samsung TV Plus Unveils New Brand as Global FAST Platform Doubles Down on Premium Content, Exclusive Premieres & Key Partnerships)
The Roku Channel – Founded 2017 (Source: Roku Launches “The Roku Channel)
Vizio Watch Free- Founded 2018 (Source: VIZIO LAUNCHES ALL-NEW WATCHFREE™ SERVICE)
Amazon FreeVee- Founded in 2019 as “FreeDive” and later was sole and rebranded to Amazon FreeVee (Source: IMDb TV Streaming Service Rebrands As Amazon Freevee, Plans Launch In Germany And 70 More )
Google TV- “FreePlay” – Founded 2023 (Source: Google TV’s free channels have a new name as ‘Freeplay’ starts rolling out)
PlutoTV is a story that proves that being the “first to market” in an category doesn’t always love and respect. Going against the grain can lead to criticisms, however, if there is true value then others will take notice and follow suit.
