FAST comes of age!

The landscape of media consumption and traditional advertising standards is undergoing a significant disruption, thanks to the emergence of Free Ad-Supported Streaming Television (FAST).

Numerous reports provide substantial support for this statement. Specifically, the latest Amagi Global FAST Report shows that FAST maintains its position as the most rapidly expanding model within the streaming realm. Projections indicate a significant increase in the global market, with anticipated revenues reaching $12 billion by 2027 and surging to $17.7 billion in 2028. Notably, within the United States, Subscription Video on Demand (SVOD) is poised for considerable growth, with its share of ad spending projected to double from 13% in 2023 to 26% in 2027, while FAST exhibits a predominant status among the streaming models, showcasing a substantial 25% increase during the same period. In contrast, cable TV is anticipated to undergo a decline, diminishing from a 50% ad spend share in 2023 to 19% in 2027, while broadcast is likely to experience a reduction from 23% in 2023 to 13% in 2027.

These findings suggest a dynamic shift in consumer behavior and advertising trends, with FAST emerging as a prominent player in the streaming industry. The projected growth in revenues and the increasing share of ad spending for SVOD platforms further indicate the changing landscape of the streaming market, with FAST leading the way in adaptation and expansion.

Utilizing the capabilities of FAST can strategically enhance the existing video distribution channels for content creators. FAST provides instant access to a broad audience, leveraging its built-in viewership. With relatively low entry barriers, often offset by ad revenue, content distributors can broaden their portfolio, introducing a valuable layer of flexibility to their overall distribution strategy.

Here at phoenix7, we are working with our clients as they navigate this new reality. Many already have or are in the process of launching FAST channels, and we find most share the same challenges. The bottom line is that they are looking for the right technology that enables them to succeed in this world of FAST.

Launching a FAST channel demands a multi-part strategy, one that combines engaging content, strategic programming, advanced technology, and efficient distribution. At phoenix7 we understand that the evolving landscape of business opportunities emphasizes the need for a quick time-to-market, while keeping operational costs low ensures an immediate return on investment. When exploring the business implications of FAST, the prospect of personalization, such as a customized Electronic Program Guide (EPG), emerges as a significant consideration.

The right channel management system can set you up for success by driving revenue growth, delivering great user experiences, and building long-lasting relationships with advertisers, ultimately securing your FAST future in an ever-changing media landscape.

By leveraging the value of your existing content library and with the help of a few strategic partners such as phoenix7, integrated with many of the most recognized FAST ecosystem players such as AMAGI, it is easy to get started in this space and launch your FAST channel to take part in this attractive revenue opportunity.

Contact us to learn more about how phoenix7 can help with your FAST strategy.