NEW YORK–(BUSINESS WIRE)–Today, Comcast Advertising released a new report entitled “Free Ad-Supported Streaming TV: Why More Advertisers (and Consumers) Are Going FAST” The report highlights the rise of free ad-supported streaming TV (FAST) and its value to advertisers today as a complement to traditional TV and streaming advertising plans.
As one of the newest forms of over-the-top (OTT), FAST provides consumers with streaming services that also feature linear-style channels, encouraging a lean-back experience and content discovery that mimics traditional TV viewing.
According to the report, FAST penetration among households has more than doubled year-over-year. Today, six out of 10 households who have connected TVs are using FAST services exclusively or in addition to other services – getting a TV-like viewing experience without the costs or logins required for linear TV or paid streaming.
“FAST is a rapidly growing ad-supported medium for consumers to watch and discover premium streaming content in an environment that mimics linear TV,” said James Rooke, President, Comcast Advertising. “As advertisers look to efficiently maximize their reach in an increasingly fragmented viewing landscape, FAST services are a valuable complement to traditional TV and other AVOD streaming options as part of a holistic multi-screen media plan.”
The report looks at new trends from FAST provider XUMO and reveals that the average XUMO user spends about 104 minutes within the platform once they have entered. Many consumers may be landing on FAST channels without even realizing it, as many are programmed directly into the channel guide by TV manufacturers. Not surprisingly, 70 percent of XUMO users are cord cutters, relying on XUMO as a complement to subscription video-on-demand (SVOD) services.
According to the report, advertisers and programmers alike are seeing the value of FAST services today. According to Horizon Media, “the FAST industry has grown exponentially and overlaps quite a bit now with what traditional TV has to offer in terms of both content and audience. Advertising on FAST allows us to reach our targeted audience and is a valuable complement to our TV budget.”
Amanda Garcia, Senior Director of Partnerships at Paramount+, adds, “As customers find more ways to watch the content they love across a mix of services, FAST channels have become a key part of our media mix for acquisition and awareness, as well as targeted campaigns to super-serve key audiences.”
To read the full report, “Free Ad-Supported Streaming TV: Why More Advertisers (and Consumers) Are Going FAST” please click here.
About Comcast Advertising
Comcast Advertising is the advertising division of Comcast Cable. As a global leader in media, technology and advertising, Comcast Advertising fosters powerful connections between brands and their audiences as well as among publishers, distributors, MVPDs, agencies and other industry players. Effectv, its advertising sales division, helps local, regional and national advertisers connect with their audiences on every screen by using advanced data to drive targeting and measurement of their campaigns. FreeWheel, its media and technology arm, provides the technology, data enablement and convergent marketplaces required to ensure buyers and sellers can transact across all screens, across all data types and all sales channels, in order to ensure the ultimate goals – results for marketers. Comcast Cable, along with NBCUniversal and Sky, is part of the Comcast Corporation (NASDAQ: CMCSA). Visit http://comcastadvertising.com/ to learn more.