It appears that Google is planning to offer free streaming channels for Chromecast and Google TV in the near future.
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Protocol reports that Google TV, Chromecast, and select smart TVs from Sony, TCL and others will likely add free streaming channels to their offerings soon(-ish). Multiple industry insiders say that Google has recently been in talks with ad-supported free streaming channels, potentially leading to free channels in the rotation as early as this fall, though Protocol notes that the announcement could be delayed until early 2022.
There are already a number of free streaming channels available, but until they actually partner with Google, they won’t be available to watch on Google TV itself. Like commercial TV stations, these free streaming services bypass the need for a subscription via advertising. So the trade-off would be that there would be the occasional interruption of programming that you probably won’t be able to skip.
The speculation at Protocol is that, once available, you’ll be able to browse a special free channel menu on Chromecast. As for smart TVs, the expectation is that the free additions will be available alongside the regular channels. This hasn’t been confirmed by Google yet.