The election cycle in India has been a significant driver of growth in news and in entertainment, a mix of local and Hollywood movie channels drove viewership, according to Amagi’s latest report titled ‘Grabbing the remote control: What’s on FAST?’
Comparing the January to March quarter of 2024 to the same time frame in 2023, the report stated that the APAC region has seen news grow tremendously driven by India, due to a combination of local elections, and also the embrace of traditional broadcasters in regions like Australia to incorporate Free Ad-supported Streaming TV (FAST) into Broadcaster Video On Demand (BVOD) service, quite unlike the approach seen in the U.S., which generally eschewed BVOD for the masses.
India is currently holding general elections from April 19 to June 1, 2024, divided into seven phases. The results will be declared on June 4.
The report highlighted that with its established position in the streaming industry, FAST remains a highly sought-after streaming model. As Subscription Video On Demand (SVOD) subscription costs rise and Pay TV cord-cutting increases, FAST has become a popular streaming option for viewers.
Viewers actively choose FAST services over other streaming options due to its linear, lean back and library experience. FAST also offers highly targeted and customised ads. The Amagi Consumer Survey 2024 showed that 33% of viewers prefer more personalised ads, while 29% are interested in shoppable ads.
“Repeating last year’s trend, news took the top spot in APAC in terms of both hours of viewing (HOV) (55%) and ad impressions (64%) this year. The election cycle in India has been a significant driver of growth in news. In entertainment, a mix of local and Hollywood movie channels drove viewership,” the report stated.
Across the region, new channel launches accounted for more than 50% of the channel count during this period. Unlike other regions, kids’ content is a top genre, with animation and anime channels being popular, too.
In terms of specific pockets of growth in APAC, India, Australia, Japan, and Korea are key markets.
The YoY monthly active users (MAU) growth analysis across all Amagi’s FAST platforms shows double-digit increases ranging anywhere from 25%-75%, which is a unique growth phenomenon compared to other mature streaming models like SVOD and AVOD.
The report highlighted, “Such growth rates across the board tell us we are still in the early days of FAST and more viewers are coming into these platforms to discover and enjoy rich content.”
“While APAC and LATAM continue to exhibit triple-digit growth in ad impressions, EMEA now has a 111% growth in HOV and a 119% increase in ad impressions. While a higher growth rate in ad impressions can be considered as a proxy for a healthier ad market, it is also an indicator of the need for improving fill rates and maturing ad operations across all regions,” it added.
With a larger user base and more viewing hours, FAST channels and services can attract more advertisers willing to pay higher rates than other streaming options such as ad-supported SVOD services.
The report brings data and insights from over 50 FAST services and more than 5,000 channels distributed that use Amagi THUNDERSTORM, their SSAI (Server-Side Ad Insertion) platform.
