• Kayak for streaming services
• A universal TV Guide for the internet

• FreeCast Platform: A digital media aggregation and streaming TV guide that organizes content from various online sources, allowing users to discover and access live TV, on-demand movies, TV shows, and music.
• SelectTV: A premium service that enhances the FreeCast experience by offering a broader selection of streaming channels, movies, and TV shows, often including options for premium content access and bundled subscriptions.
• HuddleUp: A social media and communication platform integrated within FreeCast, enabling users to connect, chat, and share content recommendations and experiences.

FreeCast (CAST) primarily serves individual consumers. The company operates as a streaming content aggregator, providing a platform that consolidates access to various streaming services, both free and subscription-based, for its users.

Based on its service offering, the up to three categories of customers FreeCast serves are:

1. Cord-cutters and Cord-nevers: Individuals who are seeking alternatives to traditional cable television services or have never subscribed to cable, preferring to access content through online streaming.
2. Budget-conscious streamers: Users who want to maximize their access to a wide range of content, including free options, and manage their streaming subscriptions efficiently to save money.
3. Content discovery and management users: Individuals looking for a simplified and centralized platform to discover, organize, and access content from multiple streaming sources without having to navigate between numerous apps.

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William (Bill) Mobley, Chief Executive Officer, President, and Chairman of the Board

Mr. Mobley founded FreeCast, Inc. in 2011 and has served as its CEO and Chairman of the Board since then. He is credited with creating no-download media buffering in 1997, a technology used globally for video streaming today, and has over 25 years of experience in digital media. He also founded MegaMedia Networks MegaChannels.com in 1999, which was the internet's first movie and TV streaming portal, featuring content from major studios like Warner Bros. and Miramax. MegaChannels.com reached over 800,000 daily viewers at its peak in 2000. Additionally, he founded Nextelligence, Inc., which owns and controls the technology FreeCast licenses for its SmartGuide.

Jonathan David Morris, Chief Financial Officer & Director

Mr. Morris was appointed Chief Financial Officer in May 2020. He brings over 23 years of experience as a finance executive, having held key leadership positions in financial management, mergers & acquisitions, private equity, and both merchant banking and investment banking. His career began in the merchant banking division of Lombard, Odier et Cie, a private bank in Switzerland.

Christopher Savine, Chief Operating Officer and Head of Finance

Mr. Savine rejoined FreeCast in April 2024 as Chief Operations Officer and Head of Finance, having previously served as the company's CFO from 2014 to 2020. He possesses a strong background in financial leadership within large, diversified manufacturing and media businesses, as well as in startup and Pre-IPO/Publicly traded companies. His previous CFO roles include positions at Capital Cities/ABC (The Walt Disney Company), Netscape, AOL Time Warner, RR Donnelley, and Cenveo.

Tracy West, Executive VP of Digital Content & Channel Distribution

Ms. West joined FreeCast's executive team after years of consulting for well-known domestic and international broadcast networks, channel distributors, television programmers, and entertainment platforms.

Irwin Podhajser, Executive Vice President of Broadcast Partnerships

Mr. Podhajser supervises media buying and major network partnerships for FreeCast. Prior to FreeCast, he served as the VP of Business Development for DTV America, which held 450 television licenses across 118 top markets in the United States and distributed numerous media brands.

FreeCast (NASDAQ: CAST) faces several significant risks, primarily centered on its financial viability, intense competition in the streaming aggregation market, and governance structure.

1. Financial Instability and Going Concern Risk
   FreeCast has a history of recurring operating losses and a substantial accumulated deficit, which has led auditors to express "substantial doubt about its ability to continue as a going concern." As of September 30, 2025, the company reported an accumulated deficit of over $198 million and a net loss exceeding $2.8 million for that quarter. The company's revenues (approximately $706K trailing 12-month revenue as of September 30, 2025) are significantly outweighed by its operating expenses, which topped $8 million for the fiscal year ending June 30, 2025. Furthermore, its recent direct listing on Nasdaq did not raise new capital for the company, meaning it will likely require additional equity financing to meet its obligations.
2. Intense Competition in the Streaming Aggregation Market
   FreeCast operates in a highly competitive and rapidly evolving digital media landscape. The company, which provides a SmartGuide to aggregate streaming content, faces competition from major players such as Amazon Prime Video, Pluto TV, Yidio, CanIStream, Roku, TiVo, Amazon Fire TV, and Apple TV. The ongoing "streaming wars" and the dominance of "Big Tech platforms" as gatekeepers in content distribution pose significant challenges, potentially limiting FreeCast's reach and increasing costs for content acquisition or licensing.
3. Founder Control and Governance Risks
   FreeCast operates with a dual-class share structure, designating it as a "controlled company" under Nasdaq corporate governance standards. Following its direct listing, CEO William A. Mobley Jr. is expected to retain approximately 75.55% of the voting power. This concentrated control allows FreeCast to opt out of certain Nasdaq corporate governance requirements, which could diminish the influence of outside shareholders and potentially affect the company's valuation or strategic direction.

The addressable markets for FreeCast's main products and services operate within the broader streaming and over-the-top (OTT) media industries, with a significant focus on ad-supported video on demand (AVOD).

Global Market Sizes:

• The global over-the-top (OTT) market was estimated at USD 399.12 billion in 2025 and is projected to reach approximately USD 2,816.85 billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 24.42% from 2025 to 2034. Another estimate valued the global OTT market at USD 383.52 billion in 2026, projected to reach USD 626.69 billion by 2031.
• The global video streaming market was estimated at USD 129.26 billion in 2024 and is projected to reach USD 416.8 billion by 2030, exhibiting a CAGR of 21.5% from 2025 to 2030.
• The global advertising-based video on demand (AVOD) market was estimated at USD 49.04 billion in 2024 and is projected to reach USD 226.57 billion by 2030, growing at a CAGR of 29.2% from 2025 to 2030. This market was valued at USD 54.14 billion in 2025 and is projected to reach USD 218.31 billion by 2033.

U.S. Market Sizes:

• The U.S. video streaming market is expected to reach USD 66.4 billion by 2030, with a CAGR of 19.8%.
• The U.S. ad-supported streaming market (AVOD) was valued at USD 18.52 billion in 2025 and is projected to reach USD 73.42 billion by 2033. North America, led by the U.S., dominated the AVOD market with a 39.5% share in 2024.

1. Expansion through Commercial Partnerships and Increased Subscriber Base: FreeCast plans to achieve significant scale by forming commercial partnerships, targeting millions of consumers through agreements with apartment communities, condominiums, campus housing, and the hospitality industry. This strategy aims to rapidly increase its user base without the high customer acquisition costs typically associated with direct-to-consumer models.
2. Enhanced Monetization via AI-Powered Advertising and Personalization: The company is introducing advanced AI features designed to unlock significant revenue potential. This includes AI-driven advertising, enabling precision targeting, advanced audience segmentation, and new ad macros, which are expected to drive incremental ad revenues. Additionally, hyper-personalization, delivering individualized recommendations and tailored electronic program guides (EPGs), aims to create unique viewer journeys that maximize engagement.
3. Strategic International Market Expansion: FreeCast has officially launched its free streaming service throughout the Caribbean, marking its first significant international expansion. This breakthrough deployment is live in over 25 countries and territories, bringing hundreds of free channels and thousands of on-demand titles, and is poised to reach over 10 million viewers across the region. The platform is also direct-to-mobile (D2M) and optimized for a wide variety of mobile devices prevalent in the region.
4. Growth of its Platform-as-a-Service (PaaS) Offerings and Content Aggregation: FreeCast operates as a streaming technology and media aggregation provider, offering platform-as-a-service solutions for television and digital video distribution. The company's platform infrastructure supports telecom operators, internet service providers, broadcasters, municipalities, utilities, brands, and device manufacturers in deploying and managing digital media and streaming services. By licensing its SmartGuide technology to device manufacturers and brands and expanding its technology solutions for commercial partners, FreeCast aims to drive growth by consolidating content, consumer management, and monetization into a single system for its enterprise clients.

Share Issuance

• FreeCast completed a direct listing on Nasdaq on March 10, 2026, where existing shareholders planned to sell up to 19.8 million shares of Class A common stock. The company itself did not receive any proceeds from this direct listing.
• In June 2025, FreeCast issued 550,000 shares at $8 per share.
• Effective June 25, 2021, FreeCast adopted the 2021 Equity Incentive Plan, under which 1,792,176 options to purchase common stock were granted at a $2 exercise price, expiring June 25, 2031.

Inbound Investments

• FreeCast secured a revolving convertible promissory note from Nextelligence, Inc., an entity controlled by CEO William A. Mobley, Jr., for a principal amount of up to $5,000,000.
• As of March 5, 2026, the outstanding principal balance under this note was $4,424,052, reflecting multiple draws since November 21, 2025.
• The convertible note accrues interest at an annual rate of 12.0% (18.0% upon default) and is due by June 30, 2026, with the option for Nextelligence to convert the debt into Class A common stock at $8.00 per share.

Capital Expenditures

• FreeCast stated its intent to use net proceeds from its offering for general corporate purposes, which may include funding capital expenditures and developing new products.
• The company's CEO unveiled "Six AI Monetization Engines" in August 2025, indicating a focus on harnessing advanced artificial intelligence and proprietary data insights to accelerate growth and unlock new revenue streams, suggesting future capital expenditures will be directed towards AI development.