NEW YORK, Oct. 23, 2023 /PRNewswire/ -- Amagi, the global leader in cloud-based SaaS technology for broadcast and connected TV (CTV), has announced the release of its ninth Quarterly Global FAST Report, which provides a comprehensive analysis of the FAST industry in conjunction with Amagi's consumer survey and real-time data from the Amagi ANALYTICS platform. Comparing global and region-specific data from APAC, LATAM, EMEA, and North America between Q2 2022 to Q2 2023, the ninth edition of this report undeniably confirms that 2023 has been a successful year for the FAST sector, which by 2027, Omida* projects will grow to $12 billion in revenue and Statista** expects it will reach 1.1bn users. Toward the end of this report, content owners, platforms, and advertisers will find a roadmap outlining how they can take advantage of and promote innovation in the emerging FAST 2.0 ecosystem.
The report examines viewer data across 50-plus FAST platforms and a sample of 1,500 channel deliveries that use Amagi THUNDERSTORM, the company's proprietary server-side ad insertion (SSAI) platform. It also provides insights into audience preferences and viewing habits based on the 2023 Amagi Consumer Survey of over 500 US households, which represents participants of diverse socio-economic backgrounds.
Key Highlights from the Report:
- Other Regions Surpass North America in FAST Channel Growth: While the US is projected to remain the largest FAST market, the region witnessed a relatively moderate growth, with an increase of 20% in ad impressions and 12% in hours of viewing (HOV). APAC takes a major lead with 290% growth in ad impressions and 181% in HOV, with LATAM in second place and EMEA in third, underscoring the importance of expanding FAST offerings globally.
- News Ranks Highest in Global, APAC, and US FAST Viewership: Compared to other genres, news content contributed the most in global ad impressions (40%) and HOV (37%). These numbers are roughly on par with APAC (47% in ad impressions, 36% in HOV) and the US (44% in ad impressions, 46% in HOV), demonstrating a general preference for FAST viewers to stay connected to current events.
- FAST Thrives in EMEA and LATAM, Especially With Movies: From Q2 2022 to Q2 2023, LATAM saw a 174% growth in ad impressions and a 20% growth in HOV, while EMEA experienced a 64% increase in ad impressions and a 58% hike in HOV. Interestingly, movies contributed the most in ad impressions and HOV for both regions, indicating a clear preference for this genre.
- Content Recommendations Present Challenges and Opportunities: Approximately 70% of respondents to Amagi's Consumer Survey reported experiencing confusion about what to watch next on CTV platforms. However, only half of respondents who receive recommendations from their CTVs said suggestions were helpful, suggesting that more needs to be done in FAST and CTV to improve content discovery.
- Personalized Advertising Is a Dire Need: Only about 19% of respondents found ads pertinent to their interests, 24% reported they prefer interactive ads, and 22% made a purchase from an ad with an interactive or shoppable feature. These statistics demonstrate that improved personalization, interactivity, and sophistication in CTV advertising should be a top priority in the industry.
"As we delve into the insights and data presented in this report's latest edition, it's clear that FAST has not just arrived; it's thriving, expanding, and reshaping how viewers consume content," said Srinivasan KA, co-founder, and Chief Revenue Officer of Amagi. "The remarkable growth of FAST on a global scale is both an opportunity and a testament to the evolving preferences of the modern viewer. With FAST 2.0 on the horizon, we're entering an era where personalization, interactivity, and innovative ad formats will be key to creating a truly dynamic and engaging linear television experience. We invite broadcasters, content owners, and advertisers to join us in this exciting journey, where we're redefining the future of television."
Amagi provides a complete suite of solutions for channel creation, distribution, and monetization. Amagi's global clients include ABS-CBN, AccuWeather, A+E Networks UK, beIN Sports, Cinedigm, Cox Media Group, Crackle Plus, Fremantle, Gannett, Gusto TV, NBCUniversal, PAC-12, Tastemade, and The Roku Channel among others.
The latest edition of the Amagi Quarterly Global FAST Report is available here. For more information about Amagi and its streaming TV solutions, visit www.amagi.com.
References:
* Omdia Report
About Amagi
Amagi is a next-generation media technology company that provides cloud broadcast and targeted advertising solutions to broadcast TV and streaming TV platforms. Amagi enables content owners to launch, distribute and monetize live linear channels on Free Ad-supported Streaming TV and video services platforms. Amagi also offers 24x7 cloud-managed services bringing simplicity, advanced automation, and transparency to the entire broadcast operations. Overall, Amagi supports 700+ content brands, 800+ playout chains, and over 2100 channel deliveries on its platform in over 40 countries. Amagi has a presence in New York, Los Angeles, London, Paris, Melbourne, Seoul, Singapore, and broadcast operations in New Delhi, and an innovation center in Bangalore.
Photo: https://mma.prnewswire.com/media/2254736/Amagi_Pvt_Ltd.jpg
Amagi Contact:
Aashish Washikar
Director - Corporate Communications
Email:aashish.washikar@amagi.com
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