Horowitz: 66% of TV viewers use FAST platforms every month
19 August 2024
Two in three TV viewers use free, ad-supported streaming TV (FAST) platforms in a typical month, new data from Horowitz Research shows. Fox’s Tubi, Paramount Global’s Pluto TV, Amazon’s Freevee, YouTube and Roku are the FAST networks most commonly used by consumers surveyed in the study.
The report is based on a survey of 2,008 TV viewers over the age of 18 conducted in March and April 2024. It tracks the evolution of the pay and free TV, streaming, internet and mobile environments and shows the impact of the introduction of FAST services on the TV ecosystem.
On the one hand, more than half (53%) of FAST users say they have cut back on their paid streaming services since FAST was launched. On the other hand, 43% of FAST users tell us they have subscribed to a paid service to continue watching a show they started on a FAST channel. This data highlights the important opportunity to use FAST strategically, with smart windowing and content promotion strategies.
Horowitz found that consumers who gave up their cable TV and relied on on-demand streaming options sorely missed the relaxing experience of channel surfing. Over seven in ten (73%) FAST users say TV is more fun now that they can tune in to these free services and watch whatever is on. Particularly among cable TV users who no longer have a cable or satellite subscription, nearly six in ten (58%) say free services are like cable TV.
“As the FAST space matures, it actually feels like a corrective to many of the problems that on-demand streaming has created for consumers and the industry,” said Adriana Waterston, EVP and Insights & Strategy Lead at Horowitz, in a statement.
Waterston claims that FAST helps mitigate the challenges of on-demand television, where it is difficult for consumers to find content.
“(FAST) also creates opportunities to generate advertising revenue and syndication revenue, which will help rebalance the business model,” she said.
The report examines audience share per platform, the devices users watch TV on, the type of content they consume, and which services they believe best deliver the content they want.
