A new study from Samsung Ads documents just how rapidly the free-ad-supported TV (FAST) streaming business has grown in recent years, with data showing that 12 new major FAST services have launched since 2019 (tripling the market) and individual FAST channels in the U.S. available on one or more major services have increased 214% since November 2020.
There are currently 18 major FAST platforms available in the U.S., the study found, and 1926 FAST channels in the U.S., up from 614 in November of 2020.
Samsung Ads’ a new industry report, “Decoding FAST: A comprehensive guide to the Free Ad-Supported Streaming Landscape”, also shows how the landscape of FAST is undergoing a transformative shift, debunking the prevailing misconception that it serves as a repository for older, less-valuable content.
The report found that across the hundreds of FAST channels offering single-title content, more than one-third is programs that are still in production and 46% are programs that first aired since 2020.
From a usage standpoint, the study noted that multiple sources have demonstrated that penetration and time spent with FAST continue to grow. HUB Entertainment Research notes that 57% of U.S. HHs use FAST. TVision Insights reports that 12% of time spent with CTV in the U.S. is with FAST apps. And at Samsung, its FAST app, TV Plus, is a top 5 app by users and time spent. Samsung recently announced that FAST consumption has grown by nearly 60% in the past year.
Other key findings include:
- As of November 2023, U.S. FAST channels are broken down into the following categories: 57% TV Shows; 13% Movies; 6% Music; 18% News & Opinion, 6% sports.
- News is having its moment, with 333 FAST channels available as of November, 2023
- Local news channels now account for 69% of all FAST news channels; there are currently about 210 local news channels.
- Sports is another hot genre that has skyrocketed in the past year, growing from 45 available channels in November 2020 to 114 in November 2023 (a growth rate of 153%)
The full report is available here.
