OK, I am watching TV adverts again, sorry. I really must learn.
This is not the first time I have seen adverts for something use the phrase "NO CONTRACT". This time was for NOW TV.
I think they mean no minimum term, or no "tie in" or some such. But I am sure they do not mean "No contract". Saying "no contract" has an important legal meaning.
Basically, you can make an agreement with someone. When you do, it can either be a contractual, and hence enforceable, agreement, or it can be a non-contractual agreement bound by honour only.
You may think that a non-contractual agreement is unusual, but it is something we all do every day. Most social agreements made with friends are non-contractual: "you get this round, I'll get the next", etc.
But even things you may think of as commercial that people use every day are non contractual, like using the Royal Mail.
A non contractual agreement is still an agreement. It is still two parties each agreeing to do something for the other. The difference is that is cannot be enforced. You cannot sue someone for failing to do what they agreed when there is no contract. This works well when the agreed upon actions go together, even handing over money for something if done as a single transaction, does not need to be a contract.
How do you know if an agreement is a contract? Well there are defaults - a social agreement is normally non contractual. Betting with a bookie used to be non contractual (not sure if that is the case these days). But most commercial things, buying goods or services, etc, are assumed to have a contract. But this is the default, and can be changed by an explicit statement. So stating "NO CONTRACT" is stating that the agreement is non-contractual.
What does this mean? Well, it means that you pay your money and the service may or may not be provided. Better still, you agree to pay money and then don't and they cannot really do anything about it (apart from stopping providing the service). Now maybe, for a pre-paid TV service it makes sense to have no contract. They know they can stop the service if you don't pay.
Still, a slightly worrying trend for marketing people not to know this.