Comcast Advertising recently released a new report entitled Free Ad-Supported Streaming TV: Why More Advertisers (and Consumers) Are Going F.A.S.T. The report highlights the rise of free ad-supported streaming TV (F.A.S.T.) and its value to advertisers today as a complement to traditional TV and streaming advertising plans.
As one of the newest forms of over-the-top (OTT), F.A.S.T. provides consumers with streaming services that also feature linear-style channels, encouraging a lean-back experience and content discovery that mimics traditional TV viewing.
According to the report, F.A.S.T. penetration among households has more than doubled year-over-year. Today, six out of 10 households who have connected TVs are using F.A.S.T. services exclusively or in addition to other services – getting a TV-like viewing experience without the costs or logins required for linear TV or paid streaming.
“F.A.S.T. is a rapidly growing ad-supported medium for consumers to watch and discover premium streaming content in an environment that mimics linear TV,” said James Rooke, President, Comcast Advertising. “As advertisers look to efficiently maximise their reach in an increasingly fragmented viewing landscape, F.A.S.T services are a valuable complement to traditional TV and other AVOD streaming options as part of a holistic multi-screen media plan.”
The report looks at new trends from F.A.S.T. provider XUMO and reveals that the average XUMO user spends about 104 minutes within the platform once they have entered. Many consumers may be landing on F.A.S.T. channels without even realising it, as many are programmed directly into the channel guide by TV manufacturers. Not surprisingly, 70 percent of XUMO users are cord cutters, relying on XUMO as a complement to subscription video-on-demand (SVOD) services.
According to the report, advertisers and programmers alike are seeing the value of F.A.S.T services today. According to Horizon Media: “The F.A.S.T. industry has grown exponentially and overlaps quite a bit now with what traditional TV has to offer in terms of both content and audience. Advertising on F.A.S.T. allows us to reach our targeted audience and is a valuable complement to our TV budget.”
Amanda Garcia, Senior Director of Partnerships at Paramount+, adds, “As customers find more ways to watch the content they love across a mix of services, F.A.S.T. channels have become a key part of our media mix for acquisition and awareness, as well as targeted campaigns to super-serve key audiences.”
To read the full report, Free Ad-Supported Streaming TV: Why More Advertisers (and Consumers) Are Going F.A.S.T. please click here.