FAST gains ground while SVOD and MVPD falter, Horowitz survey

FAST gains ground while SVOD and MVPD falter, Horowitz survey

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More and more TV viewers are using free, ad-supported streaming TV (FAST) platforms, with two in three (66%) using these services in a typical month, according to Horowitz Research’s annual report, State of Media, Entertainment, and Tech: Viewing Behaviors 2024.

Popular FAST platforms like Tubi, Pluto TV, Freevee, YouTube and Roku are leading the charge and reshaping the television landscape.

The report highlights a clear shift in consumer behavior, showing that more than half (53%) of FAST users have reduced their paid streaming subscriptions since using free alternatives. However, FAST is not completely cannibalizing paid services. 43% of users have subscribed to a paid service to continue watching a show they originally discovered on a FAST channel.

Adriana Waterston, executive vice president and head of insights and strategy at Horowitz Research, noted that FAST addresses some of the frustrations viewers face with on-demand streaming.

“As the FAST space evolves, it really feels like a correction to a lot of the problems that on-demand streaming has created for consumers and the industry,” Waterston said. She emphasized that FAST offers a more relaxed viewing experience, with 73% of users agreeing that TV is more fun when they can just tune in and watch what’s on offer.

This trend is particularly evident among cable TV rejectors, i.e. those who have given up on cable or satellite TV. Almost six in ten (58%) compare FAST services with traditional cable TV.

The State of Media, Entertainment & Tech: Viewing Behaviors 2024 report explores these changes and examines what types of content viewers are consuming, what devices they are using, and what platform preferences they have.

This year’s study, conducted in March and April among 2,008 adults, offers a deep dive into the role of FAST services in the current media landscape. The results will be presented in multiple editions and include the entire market and culturally focused segments such as Latino, Black and Asian viewers.

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The importance of diverse content will also be a focus at Horowitz’s upcoming Cultural Insights Forum, which is scheduled to return in fall 2024 after a six-year hiatus. The event will explore the value of inclusive programming in today’s media environment, taking into account ongoing changes in audience behavior and platform dynamics.

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