Exclusive: Australia poised for rapid FAST growth, as top 10 non-US markets revealed

Australia is poised for rapid FAST growth over the next four years and will overtake Germany in revenue terms by 2027, according to the latest research seen by TBI.

While FAST uptake in the US has surged over the past 18 months, it is the UK and Canada that are now seeing explosive growth, albeit at a lower level.

FAST revenues in the UK are predicted to stand at around $205m in 2023, while Canada is second in the top 10 markets outsiude of the US with $174m expected, followed by Germany, Australia and Italy.

However, Omdia research points to rapid growth in Australia over the next four years that will take FAST revenues to $307m by 2027, above the $214m exected to be recouped in Germany.

In the UK, FAST revenues are expected to reach $506m by 2027, making it the biggest market outside of the US, where FAST revenues are expected to stand at north of $10bn.

Canada revenues will hit $317m by 2027, with Australia, Germany, and Brazil making up the top five.

Italy, Mexico, France, Spain and Sweden will make up the top 10.

The data was revealed by Maria Rua Aguete, Omdia’s senior research director for media & entertainment, during a presentation at MIPTV’s FAST & Global strand of panels.

While FAST has been a hot topic here at MIPTV, its revenue raising potential still remains considerably less than other platform.

Rua Aguete said that while FAST’s revenue is set to hit $12bn by 2027, slocial media – and Tik Tok in particular – will hit new heights. The social media app company will make $90bn alone, while YouTube, Netflix, Meta and Disney+ will also be among the top five.

“Certainly FAST’s revenues of $12bn are not to be sniffed at but it needs to be put into the context of the wider online video landscape,” Rua Aguete told TBI. “Social video remains the growth story of the next five years.”