Earlier this month, CNN and CBS News launched a new FAST (Free Ad Supported Television) channel. As with many FAST channels, these new FAST channels will stream licensed content from their extensive programming library instead of original shows. In addition, the Roku Channel recently launched the Roku Sports Channel. News

CNN Originals: On August 7, CNN launched CNN Originals, a FAST channel that streams the cable news channel’s past shows. Long-form shows available on the new FAST channel include: Amanpour: Sex and Love Around the World, Anthony Bourdain: Parts Unknown, Chasing Life with Dr. Sanjay Gupta, Diana, Lincoln: Divided We Stand, Soundtracks: Songs That Made History, This Life with Lisa Ling, The Wonder List with Bill Weir And United Shades of America with W. Kamau Bell among others. These shows all previously aired on CNN’s linear cable network.

This is the third FAST channel for CNN. In an interview, Phil Nelson, Executive VP of CNN International, said: “This new channel complements CNN’s current FAST offering, consisting of CNN Headlines in the US and CNN Fast worldwide. More channels are planned in the coming months.” In addition, Max Streams has also streamed content from CNN.

Initially, CNN Originals will be available on Amazon Freevee, Fire TV, Prime Video and Plex, with additional platforms to be added in the near future.

48 hour channel: On August 14, CBS News launched a new FAST channel, the 48 Hours Channel. The FAST channel will feature over 500 episodes of the long-running true crime television series. With such an extensive library of programming, the 48 Hours Channel will launch with no repeats in its first week.

In a press release, CBS News noted that during the 2023-24 season 48 hours recorded 36.3 billion viewing minutes, an increase of 23% year-on-year for linear television and 31% for streaming.

The 48 Hours Channel has a program offering of over 500 episodes and offers program blocks on similar topics such as “Crimes of Passion”, “Serial Crimes and Mass Shootings”, “Criminal Mistakes”, “Evil in the Family”, “Love Gone Wrong”, “Wrongful Convictions”, “Murderesses, Horror Houses”, “Money Kills”, “Missing Persons”, “Unsolved Cases”, “Survival Stories” and “Hollywood Mysteries”.

In the press release, Wendy McMahon, President and CEO of CBS News and Stations and CBS Media Ventures, said: “It is clear 48 hours has tremendous appeal to millions of viewers and is experiencing remarkable growth in its 36th season. It is truly the iron horse of the true crime genre and continues to gain momentum as we find new ways to distribute the show ubiquitously. We are excited to launch the 48 Hours Channel and package episodes in a way that appeals to both longtime fans and viewers who have just discovered this powerful series.”

In an interview 48 hours Correspondent Erin Moriarty noted, “At a time when people are talking about how the networks are losing their reach, we are in so many places where a whole new group of people – often younger people – are hearing the stories we tell.”

Initially, the 48 Hours channel will stream on CBS News.com and the CBS News app, Pluto TV, Paramount+ and Paramount+ for Amazon Prime Video. After that, the FAST Channel will launch on Paramount+ for YouTube Primetime Channels and Local Now.

The 48 Hours Channel is CBS’ newest FAST channel and joins CBS News 24/7, CBS Stations’ 14 local news streams, CBS Sports HQ, CBS Sports Golazo Network, CBS UEFA Champions League and Pluto TV.

Roku Sports Channel: In addition, the Roku Sports Channel was launched on August 12. The Roku Channel is one of the largest FAST channels. In the June 2024 Nielsen Gauge Report, the Roku Channel had a TV usage share of 1.5%, more than Peacock, Max and Paramount+. The content of the new FAST Channel includes live Major League Baseball games with MLB Sunday kick-off, The Rich Eisen Show, GMFB: Overtime And Formula E race among others. Initially, the Roku Sports Channel will be available on Roku devices, Fire TVs, and Samsung and Google TVs.

These new FAST channels join one of the fastest-growing ad-supported media. According to Nielsen, the three largest FAST channels (Tubi, Pluto TV and The Roku Channel) achieved a TV viewing share of 4.3% in June 2024, up 1.0% year-over-year. Additionally, total streaming accounted for a record 40.3% of TV viewing in June.

The fact that FAST Channels is free is contributing to its growth. In contrast, many SVOD providers remain unprofitable despite rising programming costs. As a result, SVOD providers have increased monthly subscription costs, which has led many to cancel their subscription. According to Antenna, there were an estimated 55.2 million new SVOD subscriptions in the first quarter of 2024, while 50.4 million subscriptions were canceled.

Cost is also a major reason for cable TV cancellation. A report by FASTMaster found that 47% of MVPD and vMVPD subscribers regularly watch FAST channels and 46% of cable TV cancelers watch FAST channels.

The number of FAST channels in the United States has been growing rapidly, but there are signs that this trend is waning. According to FASTMaster, there were 1,943 unique FAST channels in the United States in May 2024, up 13.1% year-over-year. In May 2022, there were 643 FAST channels. In addition, general entertainment channels are the most popular programming genre, accounting for 58% of the volume, followed by news at 19%.

Last year, a Deloitte report found that 19% of consumers had switched from a paid subscription provider to a FAST service. Currently, eMarketer estimates that there are 111.5 million viewers of the FAST channel. eMarketer predicts that by 2028, there will be 125.4 million FAST viewers, which is one-third of the U.S. population.

For advertisers, the emergence of FAST Channels represents a cost-effective digital alternative. Digiday reports that the CPM (cost-per-thousand) for an ad on a FAST channel costs between $10 and $15. (It’s even cheaper for non-guaranteed ad buys.) In contrast, the CPM for an ad tier on a premium service like Netflix and Hulu is much more expensive, ranging from $25 to $47.

However, a recent study by Wurl, which analyzed over a million transitions on FAST channels, found that 8% of total viewership was lost during a typical two-minute commercial break. The report concluded, “Viewers frequently switch channels during commercial breaks when content and advertising are not aligned, and a portion do not return after the commercial break.” The report added that on traditional TV, a commercial runs regardless of how many people are watching. With streaming, ads cannot be delivered to viewers who are no longer available, so an opportunity is missed.

Given the continued expansion of channels (especially by major media companies), affordable ad prices, and growing consumer acceptance, it is not surprising that FAST channels’ advertising revenue, currently estimated at $5 billion in the U.S., will continue to grow.