Why FAST has become TV’s favourite new F-Word
Audiences have welcomed TV’s latest F-bomb and are lapping up FAST (Free Ad-Supported Television). Services are growing rapidly across local BVODs like 10 Play and global platforms such as Pluto TV. But FAST isn’t just a shiny new toy for audiences, it’s a different viewing experience uniquely meeting viewer needs and complementing other services. Gareth Tomlin, General Manager Data, Insights & Analytics at Paramount Australia, shares key insights for marketers from a global research study on why viewers are choosing to go FAST.
FAST services are rapidly proliferating around the world attracting diverse audiences. Pluto TV is the global leader in FAST and is part of 10 Play’s 52 channel FAST offering in Australia. At Paramount, we sought to better understand why viewers were flocking to the new viewing experience and conducted a global research study that surveyed 5,500 consumers aged 18-64 across nine markets, including Australia. By analysing more than 15,000 TV viewing occasions, we know more about why viewers are choosing FAST. And the results give advertisers valuable insights into viewing behaviour and trends, with a surprise new wave of younger audiences discovering (and loving) cult classics and nostalgic content.
TV’s eight needs
Watching TV addresses multiple needs for consumers and our research identified eight needs that are met by watching TV of all forms – comfort, uplift, immersion, external connection, togetherness, exploration, routine and distraction.
The different forms of TV including free-to-air broadcast, BVOD, SVOD and FAST, meet different needs. Free-to-air broadcast and streaming meet viewers’ desire for routine, as they plan their lives around their favourite news bulletin, game show, reality TV or sport.
Whether we’re watching TV on the same couch or blowing up the group chat when the Matildas score a goal, free-to-air broadcast and BVOD tick the box of external connection, allowing us to engage with the wider community. In contrast, SVOD meets an emotional need for immersion as we escape our world and dive into the centuries of drama of the Dutton family in 1883, 1923, and Yellowstone.
FAST provides simplicity, uplift and exploration
Our data shows how FAST services are addressing the needs of viewers in a unique way and complementing other services. Gone are the days of endlessly scrolling to the bottom of streaming catalogues, questioning your life decisions as you settle on your ninth re-watch of The Mummy Returns. FAST meets a need for simplicity by surfacing dozens of channels of premium content, ready to view in an instant. They take the stress out of what can be the hardest decision of your day – What will I watch on TV? Eighty per cent of FAST users agree that it, “makes it easy to find shows to watch”.
The volume of channels on FAST (over 50 on 10 Play locally, and more than 250 on Pluto TV in the U.S.) means it’s 44 per cent more likely than other forms of TV to meet a viewer's need for exploration when viewers are looking for something new. FAST users engage with more types of content, viewing an average of 3.3 genres in a typical session, compared with 2.4 genres for non-FAST users.
Viewers look to TV, and particularly FAST, for uplift, a sense of feeling refreshed and revitalised, with a brighter mood. Uplift was a need present in over a third of the viewing occasions we measured, and 78 per cent of FAST users say it gives them a break or a reward during their day.
FAST viewers are younger and view differently
Almost half (44 per cent) of 10 Play’s Live with Pluto TV audience are under 40, compared to a 34 per cent average for commercial BVOD in the same period. FAST viewers are more likely to watch on the weekend than typical 10 Play users, and view for far longer. A typical viewing session for 10 Play’s Live with Pluto TV channels is over an hour, far longer than a typical viewing session for on-demand or live stream broadcast channels.
Younger and new audiences are finding classic content
Judge Judy. Shannon Doherty. Snooki. Eric Cartman. Four names that might mean more to those of us born before 1990 (particularly Judge Judy, who was my babysitter for most school sick days), but they’re also the stars of some of the most viewed channels for under 40s on 10 Play. A FAST viewer of Judge Judy is up to 20 years younger than a Judge Judy viewer on free-to-air TV.
FAST gives our content a new lifecycle, surfacing franchises like The Shores, MasterChef and South Park to fresh, younger audiences.
Viewers accept ads on FAST
Advertising is what puts the “F” in FAST, and users see ads as a worthy trade-off for a service they value, with 73 per cent of users agreeing that “ads on FAST are part of the overall viewing experience” and 71 per cent agree that “the ad load is the same as or lower than on other services”.
“Just a second!” How FAST should we go?
FAST may be the newest acronym on the block, but all advertisers need to know is that FAST is bringing new, different and younger audiences to TV in total. FAST is meeting viewers’ needs of simplicity, uplift and exploration that’s seeing new and returning fans take a deep dive into a diverse array of curated content such as reality TV, movies, cult classics, comedy, cooking shows and more. And to top it off, these viewers don’t mind an ad in there too, it is, after all, free. So, as Judge Judy would say, don’t be a schmuck, the future is certainly FAST and it’s a worthy part of your marketing mix.
Paramount Australia is currently presenting this research to the market so talk to your sales representative to book your session.