As viewers turn to FAST channels to find an alternative to paying for SVoD services, a new report from Amagi suggests 2024 will be a pivotal year for the market.
In the 10th edition of its Quarterly Global FAST Report, comparing Q3 2022 to Q3 2023 and Q4 2022 to Q4 2023, Amagi found consistent growth in ad impressions within the global FAST market, with increases of 15 per cent in Q3 and 28 per cent in Q4.
Channel deliveries grew by 45 per cent in Q3 and 25 per cent in Q4, added the report, while Hours of Viewing (HoV) rose by 30 per cent in Q3 and 26 per cent in Q4.
In a breakdown of its figures by territory, the report reveals EMEA saw a 65 per cent increase in HoV during the period, and a 43 per cent increase in ad impressions.
In the introduction to the report, Gavin Bridge at FASTMaster Consulting states FAST channels are offering advertisers new opportunities to reach consumers.
“2024 will be a pivotal year for the medium as it looks to see ad spending catch up to viewing trends, as well as greater awareness of who the FAST audience is and why they are an attractive target,” added Bridge.
Other key findings of the report include:
- News contributed a substantial 41 per cent to total HoV worldwide in Q3 2023, followed by 37 per cent in Q4 2023, maintaining its status as the most watched genre. Films trailed behind at an 11 per cent share in Q3 2023 and a 9 per cent share in Q4 2023, with nature and wildlife as the third runner-up at 8 per cent and 6 per cent during the same quarters.
- EMEA has its own preferences: While news may dominate other genres on a global scale, EMEA audiences show a stronger preference for films. In EMEA, this genre remained the crowd favourite at a consistent 18 per cent HoV contribution across Q3 2023 and Q4 2023, while news came second at 13 per cent and then at 11 per cent.
