Two in three (66%) TV content viewers in the US are using free, ad-supported streaming TV (FAST) platforms in a typical month, according to Horowitz Research’s latest annual report, State of Media, Entertainment, and Tech: Viewing Behaviors 2024.
Tubi, Pluto TV, Freevee, YouTube and Roku are the top-used FAST networks by consumers surveyed in the study.
The new report also reveals the impact of the emergence of FAST services on the TV ecosystem.
On one hand, it found that more than half (53%) of FAST users have cut down on their paid streaming services now that they have adopted FAST.
On the other hand, 43% of FAST users say they have subscribed to a paid service to continue watching a show they started watching on a FAST channel.
Horowitz Research said the data underscores the importance of leveraging FAST strategically, with smart windowing and content promotional strategies.
Horowitz’s study also finds that consumers who solely rely on on-demand streaming options miss the lean-back experience of channel surfing.
Over 7 in 10 (73%) FAST users agree 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 6 in 10 (58%) say free services are like having cable TV again.
“As the FAST space matures, it does feel like a correction of many of the issues that on-demand streaming created for both consumers and the industry,” said Adriana Waterston, EVP and Insights & Strategy Lead for Horowitz Research, a division of M/A/R/C Research. “On the consumer side, FAST is helping mitigate the challenges of TV viewing in the on-demand space, in which consumers had to work pretty hard to find content to watch every time they sat down in front of the TV—not the most relaxing viewing experience. It is also creating opportunities to generate both ad revenue and revenue from syndication, which will help put the business model back into balance.”
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