There is a new acronym you’re going to be coming across more and more in the world of streaming: FAST. Free, ad-supported, streaming television. A whole new generation of streaming platforms are emerging, many owned by the same companies that operate paid-for streaming services.

There is is Tubi (owned by Fox), Pluto (Paramount), Xumo (Comcast) and Freevee (Amazon). They all offer on-demand libraries of TV shows and movies, and many offer linear live TV channels as well. Rather than paying for a subscription, you just need to watch ads. They are the digital version of free-to-air TV. And they are having a moment.

Take Pluto, which Paramount bought for $340 million in 2019. This FAST platform is seen as a compliment to Paramount’s paid-for streaming service Paramount+. When Paramount+ launches the new season of RuPaul’s Drag Race, Pluto features all previous seasons and the first episode of the new one. For Paramount, it is a way to get people into their content and to try to upsell them to the paid platform.

Pluto and Tubi have both recently reached the viewership numbers to be featured in the Nielsen rating. And as cable TV subscribers keep falling and the cost of streaming services keep rising, expect to see these FAST services continue to build momentum. Turns out the future of TV may end up looking very similar to TV of twenty years ago.

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