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The race for subscribers in streaming: FAST is gaining eyes and dollars

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Think for an instant: Just how many streaming services are you currently subscribed to? Netflix, Hulu, HBO Max, Amazon Prime, Disney+, Paramount+, Apple TV the list seemingly continues on and on with an increase of streaming services entering the area each year.

Initially, opting into streaming was a means for consumers to save lots of money, an alternative solution to cable. Now, with so many services on the market, and each one of these offering its cant-miss content, individuals are registered to a plethora of services, with various viewing choices.

It has resulted in subscription fatigue, the sense to be overwhelmed by the quantity of content available. Actually, competition for attention reaches an all-time high. In accordance with Deloittes Annual Digital Media Trends survey, nearly 47% of U.S. individuals are annoyed by the growing amount of subscriptions necessary to watch what they need.

Moreover, the U.S. currently faces a potential looming recession. With this particular comes the chance of rapidly changing consumer behavior and purchasing habits around subscriptions. Many consumers may soon have a lot more choices to create around which subscriptions they would like to keep and that they desire to remove, resulting in further subscription fatigue.

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Just how can streaming platforms address this feeling of overwhelm and help consumers manage their wallets during an economic depression while still discovering this content they would like to see? Its about delivering the proper content, at the proper time, in the proper channel to the proper consumer and the main element is free ad-supported streaming TV (FAST).

Todays audiences are craving a seamless lean back experience

As streaming and connected TV is continuing to grow in popularity, so too has subscription fatigue. Ironically, the more choices we’ve, the harder it could be to get something we really need to watch.

The set of over-the-top (OTT) video options is growing as individuals are growing weary of the increasing cost of streaming, while also facing increased barriers to content discovery. Because they are having to tighten their wallets, consumers demand more desirable services that align making use of their preferences.

Increasingly more, audiences crave a cushty lean back experience a less strenuous, more passive solution to access content, minus the stress due to an overabundance of choices. That’s where FAST can answer this need. As free ad-supported content becomes more desirable and innovative, these immersive lean back experiences will definitely follow.

FAST vs. video on demand

Were all acquainted with the big players in the subscription video-on-demand market dominating forces like Netflix and Amazon. But while these businesses could be the established goliaths of the streaming world, new contenders are emerging by means of free ad-supported models. Plus they are, oftentimes, pulling ahead in the race for consumer attention and loyalty, along with ad revenue.

Recognizing this, Netflix has announced a fresh lower-cost ad-supported subscription offering. This means that that Netflix is learning that to win the streaming wars they have to balance the high costs of content and subscriber growth by checking new lines of revenue.

Some on-demand platforms are ad-free a perk many viewers appreciate they do often feature a heftier price. However, free ad-supported TV is definitely an attractive prospect to customers that are tired of spending money on various streaming services. Whats more, FAST platforms can offer highly targeted ads to viewers, presenting them with relevant, personalized ad content which may be more engaging or at the very least, non-abrasive to allow them to watch.

Furthermore, with on-demand streaming services, there’s the issue of content discovery. When consumers enter a platform like Netflix, the very first thing they are confronted with is really a screen filled with content options. Choosing the best show or movie to view can feel overwhelming particularly when consumers have multiple subscriptions to pick from. With so many services and great content, folks are beginning to filter what services they need versus need, and the added pressures of the economy is making FAST an obvious winner.

FAST channels provide a more linear, passive experience for viewers. Consumers can merely start a channel they like, lean back and revel in, no choices necessary. In a few ways, its similar to the original cable viewing connection with days gone by. And, since there is an array of genres available, including news, sports, documentaries, movies, food and music, designed specifically around a consumers interests and personal tastes, consumers is now able to access this content they need in an easier, more direct way.

Why FAST may be the future for content producers and advertisers

Not merely is FAST a viable consumer option to on-demand streaming platforms, individuals are clearly shifting their time and attention toward this model aswell. And, very good news, so can be advertisers. In accordance with a new report from PWC, the shift toward hybrid monetization methods, connected TV and FAST channels will cement videos role because the main driver of revenue between 2021 and 2026.

Actually, 200 million global viewers and 47% of U.S. individuals are watching ad-supported platforms like Samsung TV Plus, The Roku Channel, Pluto, STIRR and Amazon IMDb TV so when new FAST services launch, this trend is only going to accelerate. Meanwhile, marketers are betting big on FAST, because they are estimated to invest over $25 billion on advertising-supported video by 2025.

For content owners, this implies there exists a golden possibility to monetize premium content through ad-only streaming models. And advertisers would prosper to check out suit, shifting a larger part of their spend toward FAST models to deploy targeted ad campaigns predicated on consumer data and viewing preferences. Enough time is currently for advertisers to go digital to capitalize on the shifting advertising landscape and interest todays modern consumers.

Ultimately, FAST TV is here now to stay, offering customers both the price and viewing experience they crave. With consumers making strategic decisions about where they spend their entertainment budget today, companies who adopt these models are poised to make an impression on consumers.

Additionally, linear OTT channels, available through ad-supported platforms, ensure it is easier for viewers to gain access to content, and minimize the attrition due to an overabundance of choices. This not merely makes getting discovered easier for this content owner and creates far better marketing opportunities for the advertiser in addition, it builds stronger engagement and loyalty among consumers.

Srini KA is cofounder of Amagi.

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