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FAST trend grows globally: New channels from Free Live Sports, CBC, and Pluto TV showcase demand for free, ad-supported streaming options.

DTC Revenue Growth: Up 8% in Q4, driven by Paramount+ and Pluto TV. Streaming is the growth engine: Executives remain bullish, expecting Paramount+ to achieve domestic profitability in 2025 as part of a shift toward a streaming-first strategy. We expect the service to generate over $600 million in US ad revenues this year (see chart).

Younger consumers are increasingly turning to these services, and FAST options like the Roku Channel, Pluto TV, and Tubi account for a higher share of US TV use (4.3%) than Peacock, Max, and Paramount+ combined (3.7%), per a Nielsen Gauge report, indicating these channels are gaining value.

Nielsen’s Gauge previously found that FAST services like the Roku Channel, Tubi, and Pluto TV account for a higher share of US TV use (4.3%) than the combined usage of Paramount+, Peacock, and Max (3.7%), which all include advertisements for specific subscription tiers. This indicates that advertisers could find more value in FAST services than ad-supported subscription video-on-demand.

Per MediaPost, YouTube generates $0.18 per streaming hour in US ad revenues, behind Pluto TV but ahead of Tubi and The Roku Channel. Why it matters: Our data reinforces the bullish outlook. YouTube is projected to earn $40.03 billion in global ad revenues (gross) in 2025, a 759% increase from 2015.

Ad-supported viewing is the default for free services like Tubi and Pluto TV. And most Prime Video, Hulu, Peacock, and Paramount+ viewers choose ad plans. But fewer than one-fourth of Netflix viewers are ad supported, and most Max and Disney+ viewers are ad-free, too. Taken together, viewing patterns don’t always translate to advertising patterns.

Although its viewership totals trail major FAST competitors like The Roku Channel (87.0 million), Tubi (79.3 million), and Pluto TV (64.8 million), Samsung is positioning itself as a premium and engaging alternative. The broader CTV market is undergoing rapid transformation, with US CTV ad spend projected to surpass traditional TV in 2028, reaching $46.89 billion.

Viewers who choose advertising plans grew 16% between 2023 and 2024, and free ad-supported streaming TV (FAST) services like Pluto and Roku are also climbing steadily, according to our forecast. The shift from linear TV to streaming is causing legacy media giants like Paramount, Warner Bros.

Free ad-supported services like Tubi and Pluto are capitalizing on the affordability gap, particularly among younger viewers who increasingly resist rising subscription prices. Our take: YouTube’s February surge isn’t just a win in a single month—it signals a lasting realignment in the streaming hierarchy.

The share of total TV time spent controlled by Pluto TV and Paramount+ (both of which are owned by Paramount Global) has barely budged over the past year, per Nielsen. While we expect Pluto TV’s CTV ad revenues to exceed $1 billion in 2025, its share of total CTV ad spending will actually drop slightly to 3.1%. Tubi has made considerable progress with viewers.

FAST platforms like Roku, Tubi, and Pluto TV are gaining buzz from viewers and industry professionals alike. Find out more about the FAST landscape.

Paramount’s restructuring and layoffs bely their challenged market position: Pluto TV and Paramount+ are attractive streaming assets, but may not be enough to help them increase market share.

Free ad-supported streaming TV (FAST) services like The Roku Channel, Tubi, and Pluto TV will bring in tens of millions of viewers this year, though time spent with the platforms isn’t comparable to that of Netflix or YouTube, according to our forecast. Still, marketers should keep an eye on these streaming services, especially those with parent companies like Paramount or Fox that may be able to spin free viewers into paid members.

On today's episode, we introduce you to the FAST (free ad-supported streaming TV) services (e.g., Tubi, The Roku Channel, and Pluto TV), explain how they became so popular, and look ahead to see what their ceiling is. "In Other News," we talk about whether the advertising space is on the mend and how significant of an ad player Microsoft is. Tune in to the discussion with our analyst Ross Benes and director of Briefings Jeremy Goldman.

Paramount+ added 5.6 million subscribers in Q4—its strongest gain in two years—while Pluto TV’s ad-supported model saw a 16% increase in viewing hours. Meanwhile, WBD’s Max and Discovery+ platforms added 6.4 million global subscribers, contributing to the company’s first full year of direct-to-consumer profitability.

This screen commands the heaviest share of viewer engagement and is addressable via multiple ad channels: linear or live TV spots; ad-supported video-on-demand services such as Netflix, YouTube, and a host of others; and free ad-supported streaming TV (aka FAST channels), including Pluto TV, Tubi, Rakuten, and Roku. Influencers are a key channel for targeting Gen Z.

The Roku Channel, Tubi, Pluto TV, Samsung TV Plus, and a handful of others will collectively draw over 115 million US viewers this year. FAST platforms aren’t subject to subscription fatigue or pricing pressures, positioning them to capitalize on other services’ losses in the coming zero-sum time spent environment.