Today, Xumo and Comcast Advertising released a joint report, titled The 2023 State of FAST. This new report explores the growing usage of free ad-supported streaming television (FAST) among advertisers and consumers, and the role it is playing in multiscreen TV advertising plans today.
The report combines data insights from across Comcast Advertising and Xumo Play alongside custom research with advertisers and agency executives undertaken by Gavin Bridge, VP, Media Research at CRG Global and known in the industry as "FASTMaster." The result is an in-depth and quantitative look at the current state of FAST in the U.S.
According to the report, advertisers are increasingly including FAST in their strategies in response to viewer habits: After devoting more ad spend to the channel in 2023 compared to 2022, 84% of buyers think they will increase their FAST investments even more in 2024. Consumer interest and awareness continues to grow around the medium, which offers an engaging, TV-like experience at no cost?in fact, the study reveals, 94% of FAST impressions are delivered on the TV screen.
"Every month, FAST channels are attracting tens of millions of viewers due to the plethora of high-quality programming including content like local news, niche sports, themed movies, enthusiast TV shows, and more," said Marcien Jenckes, President, Xumo and Managing Director, Comcast Advertising. "The results of this research highlight how the advertising industry is responding to FAST, and their increasing interest in its monetization potential."
Nearly half of advertisers surveyed said they are currently using FAST in their media buying and planning. They cited that a large factor in including FAST is the value it provides in helping them reach their audiences incrementally and more accurately; in fact, three in five FAST buyers use it to target a specific audience, and over half of advertisers use FAST because it extends the reach of their audience.
The report concludes with several predictions around the future of FAST, including the blurring between FAST and linear, the personalization of the user experience, and increased advertiser education as FAST continues to mature.
"I expect demand for FAST to grow in the coming years as pricing pressure on consumers from subscription streaming services mounts," said Megan Halscheid, VP, PMX Marketplace Intelligence, Publicis Media. "More and more of the viewing audience will look to FAST to add to their viewing experience, making the format increasingly valuable to ad buyers."
The 2023 State of FAST is the first joint report from Xumo, a joint venture between Comcast and Charter, and Comcast Advertising, the advertising division of Comcast Cable.
To read the full report, The 2023 State of FAST, click here.
Xumo, a joint venture between Comcast and Charter, was formed to develop and offer a next-generation streaming platform for the entire entertainment industry. The company is defined by three primary lines of business: Xumo devices, Xumo Play, and Xumo Enterprise.
Powered by Comcast's global technology platform, Xumo devices feature a world-class user interface that includes universal voice search capabilities making it easy for consumers to find and enjoy their favorite streaming content. Xumo Play is a FAST service with hundreds of ad-supported linear channels and on demand options that anchors the free content offering on Xumo devices and is also available as an app on other major streaming platforms. Xumo Enterprise is the business-to-business arm of the joint venture, providing content makers, distributors and advertisers with tools and services to make free ad-supported streaming TV (FAST) more accessible.
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 goal ? 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.
These press releases may also interest you