July 12, 2021
Samsung has quietly rolled out its ad-supported “TV Plus” streaming video platform app for anyone to access on the internet. The app, which streams third-party content such as ABC News Live, PBS Kids, ION Plus and Vice, similarly to Redbox Live TV, The Roku Channel, Pluto TV and Tubi, has been available since 2016 for mobile devices and Samsung TV owners.
Samsung also made the app available to cast on Google Chromecast devices, according to Protocol, which first reported the move.
Since launching the app, Samsung reportedly has installed the platform in 50 million of its connected televisions, in addition to access on Galaxy mobile devices. It is also available in 23 countries.
“We stream billions of minutes every month,” Sang Kim, SVP of Samsung Electronics, told the publication.
Indeed, AVOD and free ad-supported streaming television, or FAST, has grown in popularity among CE manufacturers and media companies unwilling to directly take on SVOD, including heavyweights Netflix, Amazon Prime Video, Disney+ and Hulu.
More importantly, AVOD is generating ad-revenue, hundreds of millions of dollars worth. In its most-recent fiscal filing, Roku reported it generated $466 million in Q1 platform-related ad revenue, up 101% from the previous-year period.
Both ViacomCBS and Fox Entertainment contend their respective AVOD platforms (Pluto TV and Tubi) can generate about $1 billion in annual advertising revenue by next year.