84% ad buyers to increase FAST investments in 2024, says report

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A joint report published by Xumo and Comcast Advertising revealed advertisers are increasingly including FAST in their strategies to reflect viewer habits, with 84% buyers to increase FAST investments in 2024.

The 2023 State of FAST is the first joint report from Xumo, a joint venture between Comcast and Charter, and Comcast Advertising, the advertising division of Comcast Cable. It explores the growing usage of FAST among advertisers and consumers, and the role it is playing in multiscreen TV advertising plans.

The study found that 94% of FAST impressions are delivered on the TV screen, with advertisers significantly increasing ad spend to the channel in 2023 compared to 2022. It noted consumer interest and awareness continues to grow around FAST, which offers an engaging, TV-like experience at no cost.

Findings showed nearly half of consumers regularly watch at least one FAST service with FAST viewers using an average of 1.9 FAST services. In addition, the report highlighted FAST impressions are 10 times more likely to be delivered within hard-to-reach HHs than traditional TV impressions and FAST impressions are 2.3 times more likely to be delivered within hard-to-reach HHs than other streaming sectors.

Nearly half of advertisers surveyed said they are currently using FAST in their media buying and planning, said Xumo and Comcast Advertising. They cited that a large factor in including FAST is the value it provides in helping them reach their audiences incrementally and more accurately.

The report concluded with several predictions around the future of FAST, including the blurring between FAST and linear, the personalisation of the user experience, and increased advertiser education as FAST continues to mature.

“Every month, FAST channels are attracting tens of millions of viewers due to the plethora of high-quality programming including content like local news, niche sports, themed movies, enthusiast TV shows, and more,” said Marcien Jenckes, president, Xumo and managing director, Comcast Advertising. “The results of this research highlight how the advertising industry is responding to FAST, and their increasing interest in its monetization potential.”

“I expect demand for FAST to grow in the coming years as pricing pressure on consumers from subscription streaming services mounts,” said Megan Halscheid, VP, PMX Marketplace Intelligence, Publicis Media. “More and more of the viewing audience will look to FAST to add to their viewing experience, making the format increasingly valuable to ad buyers.”