The global market for free ad-supported (FAST) channels has gone into overdrive, and it shows no sign of slowing down. In January 2023, leading research firm OMDIA estimated that FAST channel revenue grew 20-fold between 2019 and 2022, and is now set to triple by 2027 – hitting $12bn. In this whitepaper, Rakuten Advertising looks at what is driving the FAST phenomenon and where it goes next.