The fact that publishers and broadcasters are gravitating towards FAST or “Free Ad-Supported Streaming Television”, should not come as any surprise: Content distribution is more fragmented than ever, audiences are overrun with choice and the current pressure on household finances is putting the squeeze on subscription-based services (including traditional cable packages) – monthly costs are rising and the main streaming players are starting to introduce advertising anyway.
So is FAST just the shiny new thing, or is it the solution to keep revenues growing and satisfy audience eyeballs?
Generally speaking, most FAST channels offer a “linear” style feed, providing a continuous stream of content akin to “traditional” television, where a channel is already playing when you turn on the TV. This instant access eliminates the need to scroll through rows of content before being able to watch,and appeals to viewers looking for a more “lean back” entertainment experience.
Many of these FAST channels/apps are now built into smart TV’s and providers are also beginning to prioritize them in their UI, such that the FAST “linear” feeds are the first thing viewers see on accessing the service.
Interestingly, the fastest growing social media channel, TikTok, has completely eliminated the burden of choice – its content is simply a continuous stream of videos where the decisions are made for you.
However, what differentiates FAST from traditional TV is that FAST encompasses both linear feeds and on-demand content, with both including ad breaks to monetize the service. So, viewers may start with the “linear” curated feed, but then break out into on-demand viewing if something they see piques their interest – or vice versa switching to the linear feed if they “finish” a binge-watch and don’t know what to watch next.
This is all serving to revitalise and fuel innovation in the linear format and diversify the streaming experience. Extensive content libraries can be easily leveraged and re-purposed to provide focussed genre-based channels and programming which attracts the very audiences that traditional TV has been losing. In addition, this approach can also serve to promote on-demand catalogues and make it easier for viewers to make that choice of what to watch next.
For broadcasters, FAST is inexpensive, flexible, quick to implement and easy to fill with content. It can also provide the opportunity to more easily target advertising and even reach previously untapped or inaccessible audiences. It seems like a bit of a no-brainer!
Emerging content formats will likely have a significant influence on the evolution of FAST channels. Short-form video content, such as that offered by the likes of TikTok continues to grow in prominence and popularity, giving creators and marketeers fresh opportunity to experiment with different ad types specifically tailored to these platforms – including FAST.
Whatever the final destination, it certainly seems that FAST channels will be key players in the evolution of the streaming environment – and for publishers and broadcasters, it really could be both the shiny new thing, and the solution to keep revenues growing while satisfying audience eyeballs!
