FAST is still growing :) While the pace of creating new FAST channels has tapered off slightly compared to two years ago, numbers are still strong:
Says FastMaster Gavin Bridge: the 1,943 channel count in May is the second-greatest total in history.
New data from Horowitz Research reveals that as many as two-thirds of TV content viewers are using FAST platforms in a typical month.
Fox’s Tubi, Paramount Global’s Pluto TV, Amazon’s Freevee, YouTube, and Roku are the most used FAST networks by consumers surveyed.
“Over seven in 10 (73%) FAST users say that TV is more enjoyable now that they can turn on these free services and watch whatever is on.”
Specifically, among cord-cutters who no longer have a cable or satellite subscription, nearly six in 10 (58%) say free services are like having cable TV again.
FAST, according to Variety, will eclipse subscription-based streaming service’s dominance by 2030.
As has been said many times, FAST is like cable but free. It's a new and improved version of old-fashioned broadcast , with all the advantages of targeting and ad optimization.
Don’t Underestimate FAST
All that is great news for FAST channel owners who have the content and the resources to devote to programming and channel optimization. But, as we’ve seen in the last few years, standing up a FAST channel isn’t easy, and requires a set of skills that may not be endemic to every channel owner.
For traditional publishers, who are looking to FAST to bolster their advertising revenue in a tough environment, they’ll need at least 200 hours of content to start. Where are they going to get that from? Plus, the programming needs to be scheduled and optimized. Who will do that? A “set it and forget it” mentality isn’t possible on FAST and is a prescription for disaster.
If you’re a content producer, with exclusive IP, a FAST channel can provide a secondary venue - free to viewers - to showcase your programming, and serve as a promotional vehicle for you. Take Tyler Perry, for example, who just launched two comedy channels on Roku and Pluto featuring his own shows which fans can now access on-demand without a cable or streaming subscription. But producing content isn’t the same as running a channel, which needs to be operationalized and managed.
Says Preeya Naul, VP Streaming Partnerships at VideoElephant,
“Breaking into the FAST space demands an entirely new skill set, especially for individuals or teams whose primary focus lies elsewhere. Suddenly, you're tasked with programming content around the clock, mastering the intricacies of TV broadcast scheduling, managing ad insertion, and navigating the complexities of selling ad inventory. It’s a steep learning curve, making FAST a challenging venture for those not already immersed in the industry.”
VideoElephant’s New Managed Services
VideoElephant learned this the hard way, successfully standing up three channels of its own (Beyond Paranormal, Travel Escapes, Real Crime Uncovered, with a fourth on the way), nurturing them as they took shape, monitoring their audiences daily, making programming adjustments as needed, and monetizing them, leveraging its own mini-ad network. VideoElephant grew the HOVs over time and found a home on platforms like Sling Freestream.
Says VideoElephant CRO Brian Cullinane, “We have learned a lot about what works and what doesn’t. As a result, we have decided to leverage that expertise for the benefit of other channel owners with the launch of a new Managed Services business.”
VideoElephant’s FAST Managed Services takes the burden of operationalizing these channels off the shoulders of channel owners, which is a huge lift, expensive and manpower heavy. Established channel owners who have had trouble making money with FAST can reduce their investment in technology, infrastructure, content acquisition, operations, and staff with an outside resource and aspiring channel owners who can’t afford to invest, can stand up a FAST channel by handing off the end-to-end development and operation to a partner.
Access to Streamers
But most importantly, working with VideoElephant facilitates relationships with the streaming platforms - the holy grail for FAST channels, simplifying discovery for consumers and ensuring rapid adoption. With VideoElephant as a partner, channel owners can be assured access to the top streamers for consideration by understanding their priorities and the audiences they want to tap. As Cullinane says, “Without distribution, the rest is basically irrelevant.”
“With years of on-the-ground experience,” adds Cullinane, “we know how to do it all, from handling the programming and scheduling to ad break optimization for a 24/7 broadcast-style schedule. To our credit, with our three existing FAST channels, we have seen a 50% increase in average session minutes while more than doubling our unique user sessions. Plus, we are successfully selling our inventory.”
Adds Cullinane, “Our FAST success makes our Managed Services offering an attractive option to any channel owner - publisher, broadcaster, even content creator - who has either already embarked on their own FAST journey or is thinking about it. At VideoElephant, we handle it all so content owners don’t have to.”
Adds Preeya, “We have developed the in-house capability through launching channels ourselves. Therefore, we know how to launch, program and run successful FAST channels.”
If you’d like to learn more about VideoElephant’s FAST Managed Services, connect with us.
