New report findings show FAST revenues will account for nearly 20% of the UK’s $3bn premium online ad-supported video market by 2027
Global Distributor, Blue Ant International, released new findings at London Screenings today that point to the significant growth in the UK’s emerging FAST arena over the next four years. Conducted by technology research firm Omdia as a followup to its recent global study on FAST, the UK-focused findings reveal that FAST will account for nearly 20% of the UK’s $3bn premium online ad-supported video market by 2027 (of which $500m will be attributed to FAST). That discovery points to FAST channel revenue in the UK quadrupling in the next four years, from the current $128m earnings. As part of its commission to Omdia, the full, updated global report is now accessible to the public, free-of-charge.
Growth numbers, previously released in the now-updated Omdia report, signalled the exponential audience adoption of FAST platforms and a growing need for producers and content owners around the world to navigate and access this emerging market. The report is aimed as a tool for the industry to unpack how FAST channels operate in order to tap into this emerging space and breaks down:
- Growth of FAST in the UK
- How content owners can make money from FAST
- Opportunities for advertising in FAST
- What type of content is suitable for FAST
- How FAST channels are programmed
- How FAST Channels fit in with existing revenue streams.
“As a global distributor with a proven track record, our goal with these new findings is to demystify how FAST will perform outside of North America, specifically in the UK where free-to-air still reigns supreme,” said Lilla Hurst, Global Head of Acquisitions & Partnerships, Blue Ant International. “The updated data highlights FAST as an opportunity for creators to maximise the value of their IP in the UK via windowing strategies that will extend the life and revenue of their productions. We’re here to help them navigate through that journey.”
New FAST trends highlighted in the report:
- UK FAST channel revenue has already increased 180 times between 2019 and 2022
- FAST is a weekly habit for 15% of UK online viewers
- The general movement of consumers from free TV towards free online video is a key driver of ad-based online video monetization, as advertisers start to follow eyeballs from traditional TV towards digital and CTV environments.
- In terms of content, in the US, local news channels have carved out an important niche on FAST.
- News was the top FAST channel genre is the US according to Amagi, with 33% of hours of viewing, 8% for movies and crime, 7% for entertainment and 3% for sports (Amagi Global FAST Report Edition #5).
- News is the leading genre in APAC (14%), but in Europe, documentary channels are number one (15%), while in Latin America, movie channels (21%), according to Amagi.
- New interviews with leaders in the FAST space (indicated below) reveal that anywhere from 50-500 hours of content are required to launch and keep programming fresh for audiences
- An increasing number of channels are FAST-native. These are typically focused around a niche programme genre or target audience
- FAST is often described as “lean-back” entertainment designed for people wanting to relax with minimal effort. Audiences will not research a channel, so its purpose needs to be clear through its branding. The name of the channel often highlights its genre or niche.
The now updated report also includes a roadmap of FAST platforms available in the top 10 international markets and interviews with FAST industry experts and thought leaders, including: Srinivasan KA, Co-founder & Chief Revenue Office, Amagi; Greg Diefenbach, Managing Director at Alliant/Magellan TV; Richard Young, Director of Syndication at Little Dot Studios; Jamie Schouela, President, Global Channels and Media, Blue Ant Media; Jonathan Strauss, Global Head of Business Development, Tastemade. BCS Bureau