NEW YORK, April 30, 2024 /PRNewswire/ — Amagi, the global leader in cloud-based SaaS technology for broadcast and connected TV (CTV), today announced that the 11th edition of the Amagi Global FAST Report continues to show double-digit growth for the global FAST industry over the last year. Comparing the 10th edition growth rates (Q4 2023 vs. 2022) with the current edition (Q1 2024 vs. 2023), this latest analysis indicated sustained advancement across key metrics, with a notable uptick in channel growth (28% vs. 25%), ad impressions (35% vs. 28%), and hours of viewing (HOV) (42% vs. 26%). These findings reaffirm FAST’s status as the fastest growing business model and highly sought experience within the streaming ecosystem.
“The 11th edition of the Amagi Global FAST report provides valuable insights into content preferences and viewing habits across diverse regions,” said FASTMaster Gavin Bridge, VP of Media Research at CRG Global. “By shedding light on the popularity of news in the U.S. and the dominance of entertainment in EMEA and LATAM, this report underscores the importance of understanding regional nuances to drive growth and engagement within the FAST ecosystem. As the upfront season unfolds, it is crucial for media companies to leverage these findings to inform their strategies and better serve the needs of their audiences.”
The newly released Amagi Global FAST Report offers critical data and insights derived from more than 50 FAST services and 5,000+ channels using Amagi THUNDERSTORM, the company’s cutting-edge server-side ad insertion (SSAI) platform. Additionally, the report incorporates findings from the 2024 Amagi Consumer Survey, which reflects the preferences and viewing habits of nearly 500 U.S. households across various income brackets.
Key takeaways from the Amagi Global FAST Report include:
- Continued Growth in FAST Viewership: The report identifies a robust increase in FAST viewership, with a double-digit growth in monthly active users (MAU) across all of Amagi’s FAST platforms (ranging from 25-75% YoY). This growth, which outpaces that of established streaming models like SVOD and AVOD, underscores FAST services as a leading choice for digital entertainment, driven largely by new channel launches.
- Diversification and Global Reach: Initially focused on U.S.-centric, news-heavy content, FAST services are now broadening their offerings. The introduction of numerous non-news channels has significantly contributed to viewership growth, with the entertainment genre leading in regions like EMEA and LATAM. This shift toward a more diverse and globally inclusive content strategy caters to a much broader audience.
- Significance of O&O Channels: Owned and operated (O&O) channels are pivotal, making up about 25% of the top-performing FAST channels, particularly in popular genres such as music, news, and entertainment. These channels significantly enhance viewer engagement and retention by leveraging proprietary content.
- Increase in Ad Impressions: Alongside viewership growth, there has been a notable increase in ad impressions, with APAC and LATAM still showing triple-digit growth while EMEA experienced a 111% rise in HOV and a 119% increase in ad impressions. This trend reflects growing advertiser confidence in FAST platforms as effective advertising mediums.
- Addressing the Paradox of Choice: 86% of consumers spend considerable time deciding what to watch next, a dilemma that FAST’s linear, “always-on” viewing experience can resolve. This not only enhances viewer satisfaction by reducing choice overload but also mitigates potential ad revenue losses for platforms, positioning FAST channels to expand their influence across all streaming platforms.
For industry professionals, advertisers, content creators, and media enthusiasts who want to delve deeper into these findings and explore their implications for the future of broadcasting and advertising, Amagi is offering an on-demand webinar, “What’s on FAST? Tracking the content landscape and viewership trends.” Bridge joins Siva Natarajan, SVP of Strategy & Business Operations at Amagi, to discuss the latest findings of the Amagi Global FAST Report, with specific focus on topics such as the growth driven by new channels, the role of sports in FAST, the presence of FAST channels in non-FAST services, and the improvement in ad impressions and fill rates.
“The 11th edition of the Amagi Global FAST Report provides unmatched data and analysis on this burgeoning FAST ecosystem,” said Srinivasan KA, Co-Founder and Chief Revenue Officer of Amagi. “Amagi’s reports continue to provide detailed insights, resulting in a more comprehensive analysis with each iteration. As viewer habits and content monetization models continue to rapidly evolve, this report equips media companies, advertisers and ecosystem players with the insights they need to make informed decisions and chart a successful path forward in the complex modern media ecosystem.”
Amagi provides a complete suite of solutions for channel creation, distribution, and monetization. The company’s clients include ABS-CBN, AccuWeather, A+E Networks UK, beIN Sports, Cineverse, Cox Media Group, Crackle Plus, Fremantle, Gannett, Gusto TV, NBCUniversal, PAC-12, Tastemade, and The Roku Channel, among others.
The latest edition of the Amagi Global FAST Report is available here. More information about Amagi and its streaming TV solutions is available at www.amagi.com.
About Amagi
Amagi is the premier industry cloud platform, providing comprehensive management, distribution, and monetization solutions for both traditional and streaming TV services. Through continuous innovation and our make-move-monetize framework, we make video content fluid and accessible to everyone across regions and platforms — cable, D2C apps, FAST, CTV, VOD, and OTA platforms. As a pioneer in cloud broadcasting, we offer best-in-class cloud migration services for broadcast TV networks, transitioning their entire operations into the cloud effortlessly. Globally, we work with 800+ content brands, delivering 5,000+ channels with deployments in 150+ countries, managing ad opportunities in excess of 50 billion. We have a presence in New York, Los Angeles, London, Paris, Singapore, Seoul and Sydney, with innovation centers in Bangalore, Zagreb, and Lodz, and a global media monitoring center in New Delhi.
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Photo Caption: The latest analysis shows sustained advancement across key metrics, with a notable uptick in channel growth, ad impressions and hours of viewing (HOV) (42% vs. 26%). These findings reaffirm FAST’s status as the fastest growing business model and highly sought experience within the streaming ecosystem.
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Photo Caption: FAST Report #11 Banner Image
Amagi Contact:
Aashish Washikar
Director – Corporate Communications
Email: [email protected]
+91 9533390005
SOURCE Amagi Media Labs Pvt. Ltd
