NEW YORK—A new report on free, ad-supported streaming channels indicates that their growth continues to accelerate, with the number of channels hours views and ad impressions all growing faster in Q1 2024 than they did in Q1 2023 a year earlier, according to the 11th edition of the Amagi Global FAST Report.
Comparing the 10th edition growth rates (Q4 2023 vs. 2022) with the current edition (Q1 2024 vs. 2023), this latest analysis indicated sustained advancement across key metrics, with a notable uptick in channel growth (28% vs. 25%), ad impressions (35% vs. 28%), and hours of viewing (HOV) (42% vs. 26%).
These findings reaffirm FAST's status as the fastest growing business model and highly sought experience within the streaming ecosystem, the researchers said.
"The 11th edition of the Amagi Global FAST report provides valuable insights into content preferences and viewing habits across diverse regions," said FASTMaster Gavin Bridge, vice president of media research at CRG Global. "By shedding light on the popularity of news in the U.S. and the dominance of entertainment in EMEA and LATAM, this report underscores the importance of understanding regional nuances to drive growth and engagement within the FAST ecosystem. As the upfront season unfolds, it is crucial for media companies to leverage these findings to inform their strategies and better serve the needs of their audiences."
The newly released Amagi Global FAST Report is based on more than 50 FAST services and 5,000+ channels using Amagi THUNDERSTORM, the company's cutting-edge server-side ad insertion (SSAI) platform. Additionally, the report incorporates findings from the 2024 Amagi Consumer Survey, which reflects the preferences and viewing habits of nearly 500 U.S. households across various income brackets.
"The 11th edition of the Amagi Global FAST Report provides unmatched data and analysis on this burgeoning FAST ecosystem," said Srinivasan KA, co-founder and chief revenue officer of Amagi. "Amagi's reports continue to provide detailed insights, resulting in a more comprehensive analysis with each iteration. As viewer habits and content monetization models continue to rapidly evolve, this report equips media companies, advertisers and ecosystem players with the insights they need to make informed decisions and chart a successful path forward in the complex modern media ecosystem."
Key takeaways from the Amagi Global FAST Report include:
- Continued Growth in FAST Viewership: The report identifies a robust increase in FAST viewership, with a double-digit growth in monthly active users (MAU) across all of Amagi's FAST platforms (ranging from 25-75% YoY). This growth, which outpaces that of established streaming models like SVOD and AVOD, underscores FAST services as a leading choice for digital entertainment, driven largely by new channel launches.
- Diversification and Global Reach: Initially focused on U.S.-centric, news-heavy content, FAST services are now broadening their offerings. The introduction of numerous non-news channels has significantly contributed to viewership growth, with the entertainment genre leading in regions like EMEA and LATAM. This shift toward a more diverse and globally inclusive content strategy caters to a much broader audience.
- Significance of O&O Channels: Owned and operated (O&O) channels are pivotal, making up about 25% of the top-performing FAST channels, particularly in popular genres such as music, news, and entertainment. These channels significantly enhance viewer engagement and retention by leveraging proprietary content.
- Increase in Ad Impressions: Alongside viewership growth, there has been a notable increase in ad impressions, with APAC and LATAM still showing triple-digit growth while EMEA experienced a 111% rise in HOV and a 119% increase in ad impressions. This trend reflects growing advertiser confidence in FAST platforms as effective advertising mediums.
- Addressing the Paradox of Choice: 86% of consumers spend considerable time deciding what to watch next, a dilemma that FAST's linear, "always-on" viewing experience can resolve, Amagi noted.
The latest edition of the Amagi Global FAST Report is available here. More information about Amagi and its streaming TV solutions is available at www.amagi.com.
