Did you know that U.S. households tune in to an average of nearly five different streaming platforms? And with prices ranging as high as Netflix’s most-premium $20-per-month tier, TV bills are stacking up. This might have been fine last year. However, with a recession looming consumers are rethinking their priorities.
This is where FAST, free ad-supported streaming TV, comes into play. FAST offers consumers a wide range of programming options without the financial burden. Here’s why advertisers need to get behind this latest streaming trend.
FAST is Growing
According to a Comcast Advertising survey, free ad-supported streaming TV, or FAST, has doubled in households within the past year. Six in 10 houses with a smart TV are now using FAST services. This makes it a jackpot for streaming advertising. Streaming Advertising is expected to reach $30 billion in ad spend by 2024, according to eMarketer.
FAST is Simple
Rather than supplying on-demand content, FAST platforms offer pre-programmed content that streams continuously without the necessity of picking what show to watch. Rather than tuning in to a traditional network channel like on cable, one might select a FAST channel themed for, true crime, holiday, or sports programming. No need to spend countless time searching for a show, FAST makes choosing easy.
FAST is Affordable
FAST channels currently don’t include content from heavyweights like Disney or NBCU. This means buyers who are looking to add CTV advertising to their media mix can do so without paying the network premium prices.
FAST services are a valuable complement to traditional TV and other streaming options as part of a holistic multi-channel media plan. FAST will continue to gain traction with both viewers and advertisers. Make sure to get in on this phenomenon and get your brand on FAST.
Carolina Macedo, the author, is Project Coordinator of Marketing Keys.