One of the benefits BB Media highlights about the FAST business is that it drives the expansion of the spectrum of traditional TV audiences and brings it closer to those digital users who consume online content, and FAST brings the TV experience closer in a digital way.
Rosario Buil, Chief Customer Officer of BB Media, points out: “More than a unique way of viewing content, I see FAST as an excellent complement.”
Another advantage of adopting this business model is income diversification. “It goes beyond the traditional subscription and advertising they had on traditional TV.”
One of the challenges she mentioned is the need for reliable and authorized metrics. “One of the things that our clients highlight the most is the need for reliable and certified metrics. Platforms can offer segmentation and metrics that are much more granular than traditional metrics, but someone needs to be able to control it; otherwise, it is necessary to trust the metrics of each platform.”
“It is important to highlight the challenges in terms of competition, adapting to a business model based on advertising and online transmission. The challenge in terms of the competition of all these platforms and channels is to retain the audience and sustain income,” she said.
She added that FAST allows broadcast TV and pay TV companies to enter an online streaming space and capture audiences looking for free and online content. “For example, if we talk about a content-generating company, it can help monetize content by bidding on FAST platforms, opening a new income window for content ready-to-broadcast, revitalizing that old content. That is precisely its great strength, having a new option to generate new income with content ready-to-go.”
Buil mentioned some specific metrics from the second quarter of this year in the US from BB Media’s Online Media Essentials report:
-37.6% of the market claims to be watching live-streaming content in general
-17% say they are only doing it to watch sports
-Almost 45% said they are not doing so today, but they watch content on demand.
“Something worth mentioning is that the age ranges of those who most consume FAST content are 25 to 35 years old (27%) and in second place those under 24 years old (21%). What we see here is a much lower receptivity in the range of people between 45 years to 54 years old where the consumption of live streaming is 15.29%, and from 55 years and older, it is 15%,” she noted.
She also quoted data about the most consumed FAST channel genres in the US: 45.9% watch more genre channels, 40% of specific content, and 45% of a wide variety.
The Top 4 genres most watched within FAST are Sports, Comedy, Action, and Drama.