Asia Pacific (APAC) saw the fastest growth in FAST channels in the year to June 30, with a 290% increase in ad impression and 181% in hours of viewing (HOV).
According to Amagi’s ninth quarterly Global FAST Report, while the US is projected to remain the largest FAST market, the region witnessed relatively moderate growth over the period, with an increase of 20% in ad impressions and 12% in HOV. LATAM was in second place and EMEA in third after APAC in terms of growth, underscoring the importance of expanding FAST offerings globally.
Other key findings were:
News Ranks Highest in Global, APAC, and US FAST Viewership: Compared to other genres, news content contributed the most in global ad impressions (40%) and HOV (37%). These numbers are roughly on par with APAC (47% in ad impressions, 36% in HOV) and the US (44% in ad impressions, 46% in HOV), demonstrating a general preference for FAST viewers to stay connected to current events.
FAST Thrives in EMEA and LATAM, Especially With Movies: From Q2 2022 to Q2 2023, LATAM saw a 174% growth in ad impressions and a 20% growth in HOV, while EMEA experienced a 64% increase in ad impressions and a 58% hike in HOV. Interestingly, movies contributed the most in ad impressions and HOV for both regions, indicating a clear preference for this genre.
Content Recommendations Present Challenges and Opportunities: Approximately 70% of respondents to Amagi’s Consumer Survey reported experiencing confusion about what to watch next on CTV platforms. However, only half of respondents who receive recommendations from their CTVs said suggestions were helpful, suggesting that more needs to be done to improve content discovery in FAST and CTV.
Personalised Advertising Is a Dire Need: Only about 19% of respondents found ads pertinent to their interests, 24% reported they prefer interactive ads, and 22% made a purchase from an ad with an interactive or shoppable feature. These statistics demonstrate that improved personalization, interactivity, and sophistication in CTV advertising should be a top priority in the industry.
Commenting on the findings of the report, Srinivasan KA, co-founder and chief revenue officer of Amagi, said: “As we delve into the insights and data presented in this report’s latest edition, it’s clear that FAST has not just arrived; it’s thriving, expanding, and reshaping how viewers consume content.
“The remarkable growth of FAST on a global scale is both an opportunity and a testament to the evolving preferences of the modern viewer. With FAST 2.0 on the horizon, we’re entering an era where personalization, interactivity, and innovative ad formats will be key to creating a truly dynamic and engaging linear television experience. We invite broadcasters, content owners, and advertisers to join us in this exciting journey, where we’re redefining the future of television”.
Amagi provides a complete suite of solutions for channel creation, distribution, and monetisation. Its global clients include ABS-CBN, AccuWeather, A+E Networks UK, beIN Sports, Cinedigm, Cox Media Group, Crackle Plus, Fremantle, Gannett, Gusto TV, NBCUniversal, PAC-12, Tastemade, and The Roku Channel.
