Amagi, a global leader in cloud-based SaaS technology for broadcast and connected TV (CTV), has announced that the 11th edition of the Amagi Global FAST Report continues to show double-digit growth for the global FAST industry over the last year.

Comparing the 10th edition growth rates (Q4 2023 vs. 2022) with the current edition (Q1 2024 vs. 2023), this latest analysis indicated sustained advancement across key metrics, with a notable uptick in channel growth (28 percent vs. 25 percent), ad impressions (35 percent vs. 28 percent), and hours of viewing (HOV) (42 percent vs. 26 percent).

These findings,  according to an Amagi statement, reaffirm FAST’s status as the fastest growing business model and highly sought experience within the streaming ecosystem.

“The 11th edition of the Amagi Global FAST report provides valuable insights into content preferences and viewing habits across diverse regions,” said FASTMaster Gavin Bridge, VP of Media Research at CRG Global.

He added: “By shedding light on the popularity of news in the U.S. and the dominance of entertainment in EMEA and LATAM, this report underscores the importance of understanding regional nuances to drive growth and engagement within the FAST ecosystem. As the upfront season unfolds, it is crucial for media companies to leverage these findings to inform their strategies and better serve the needs of their audiences.”

The newly released Amagi Global FAST Report offers critical data and insights derived from more than 50 FAST services and 5,000+ channels using Amagi THUNDERSTORM, the company’s cutting-edge server-side ad insertion (SSAI) platform. Additionally, the report incorporates findings from the 2024 Amagi Consumer Survey, which reflects the preferences and viewing habits of nearly 500 U.S. households across various income brackets.

Key takeaways from the Amagi Global FAST Report include:

 # Continued Growth in FAST Viewership: The report identifies a robust increase in FAST viewership, with a double-digit growth in monthly active users (MAU) across all of Amagi’s FAST platforms (ranging from 25-75 percent YoY). This growth, which outpaces that of established streaming models like SVOD and AVOD, underscores FAST services as a leading choice for digital entertainment, driven largely by new channel launches.

# Diversification and Global Reach: Initially focused on US-centric, news-heavy content, FAST services are now broadening their offerings. The introduction of numerous non-news channels has significantly contributed to viewership growth, with the entertainment genre leading in regions like EMEA and LATAM. This shift toward a more diverse and globally inclusive content strategy caters to a much broader audience.

# Significance of O&O Channels: Owned and operated (O&O) channels are pivotal, making up about 25 percent of the top-performing FAST channels, particularly in popular genres such as music, news, and entertainment. These channels significantly enhance viewer engagement and retention by leveraging proprietary content.

# Increase in Ad Impressions: Alongside viewership growth, there has been a notable increase in ad impressions, with APAC and LATAM still showing triple-digit growth while EMEA experienced a 111 percent rise in HOV and a 119 percent increase in ad impressions. This trend reflects growing advertiser confidence in FAST platforms as effective advertising mediums.

# Addressing the Paradox of Choice: 86 percent of consumers spend considerable time deciding what to watch next, a dilemma that FAST’s linear, “always-on” viewing experience can resolve. This not only enhances viewer satisfaction by reducing choice overload but also mitigates potential ad revenue losses for platforms, positioning FAST channels to expand their influence across all streaming platforms.

“The 11th edition of the Amagi Global FAST Report provides unmatched data and analysis on this burgeoning FAST ecosystem,” said Srinivasan KA, Co-Founder and Chief Revenue Officer of Amagi.