A new report from Xumo and Comcast Advertising released this week shows that the FAST (free ad supported TV) trend is showing strong growth among both advertisers and viewers.
According to the joint report, “The 2023 State of FAST,” from Xumo—the streaming joint venture between Comcast and Cox—advertisers are increasingly including FAST in their strategies in response to viewer habits, with 84% of buyers responding that they plan to increase their FAST investments even more in 2024. With advertisers increasing their spend year over year, consumer interest and awareness in the free service also continues to grow; in fact, the study reveals, 94% of FAST impressions are delivered on the TV screen.
“Every month, FAST channels are attracting tens of millions of viewers due to the plethora of high-quality programming including content like local news, niche sports, themed movies, enthusiast TV shows, and more,” said Marcien Jenckes, President, Xumo and Managing Director, Comcast Advertising. “The results of this research highlight how the advertising industry is responding to FAST, and their increasing interest in its monetization potential.”
Nearly half of advertisers surveyed said they are currently using FAST in their media buying and planning, noting that FAST helps them reach their audiences incrementally and more accurately; in fact, three in five FAST buyers use it to target a specific audience, and over half of advertisers use FAST because it extends the reach of their audience, according to the report.
The report also found that almost half of consumers regularly watch at least one channel on a FAST service, with FAST viewers using an average of 1.5 FAST services. The report also noted that in a survey, 56% of viewers said FAST channels are as good as cable channels.
The most popular genre on FAST is news at 39% share, followed by crime TV with 17%, movies 10%, action and drama 5%, sports 5% and games shows 3%. Others accounted for 21%.
The report concludes with several predictions around the future of FAST, including the blurring between FAST and linear, the personalization of the user experience, and increased advertiser education as FAST continues to mature, according to Megan Halscheid, VP, PMX Marketplace Intelligence, Publicis Media.
“I expect demand for FAST to grow in the coming years as pricing pressure on consumers from subscription streaming services mounts,” she said. “More and more of the viewing audience will look to FAST to add to their viewing experience, making the format increasingly valuable to ad buyers.”
"The 2023 State of FAST" report combines data insights from across Comcast Advertising and Xumo Play alongside custom research with advertisers and agency executives undertaken by Gavin Bridge, vice president, Media Research at CRG Global and known in the industry as “FASTMaster.”
