By: The BitMar Team.
Image Source: Bing Image Creator.
In recent years, the entertainment industry has witnessed a significant shift in the way that people consume Television content. With the advent of streaming platforms, traditional Cable and Satellite TV subscriptions have faced stiff competition. One particular trend that has gained immense popularity, is: the rise of Free Ad-Supported Streaming Television (FAST TV.) This new model offers viewers access to a wide range of content, without requiring a subscription fee; thanks to targeted advertising. According to a report, by eMarketer, the number of FAST TV users is expected to reach 72.4 million, by the end of 2023.
The appeal of FAST TV lies in its accessibility, and cost-effectiveness. Viewers can enjoy a vast library of shows, movies, and live TV channels, without having to pay hefty subscription fees. Advertisers, on the other hand, benefit from a large, and engaged, audience; providing an opportunity to reach their target demographics, effectively. A study, conducted by Deloitte, found: that 55% of respondents preferred ad-supported streaming services, due to their ability to access content for free. This indicates a significant shift in consumer behavior; and highlights the growing appeal of FAST TV.
Major media conglomerates have taken note of this rising trend, and have started investing in FAST TV platforms. For instance: NBCUniversal launched its ad-supported streaming service: Peacock, in 2020. The platform has seen rapid growth, and is expected to reach 52 million subscribers, by 2024; as reported by Variety. Similarly, Fox Corporation launched Tubi, an ad-supported streaming service that has garnered over 33 million monthly active users, as of April 2021. These strategic moves, by industry giants, signify their confidence in the potential of FAST TV.
Another significant factor, driving the rise of FAST TV, is: the increasing number of cord-cutters, and cord-nevers. As traditional TV subscriptions become more expensive, many consumers are opting to cancel their Cable, or Satellite, services; while embracing streaming options. A study, conducted by eMarketer, estimates that the number of cord-cutters, in the United States, will reach 46.6 million, by the end of 2023. This trend further fuels the demand for FAST TV platforms; offering consumers an affordable alternative to traditional TV.
One of the challenges, for FAST TV platforms, has been: striking the right balance; between content, and advertising. While viewers appreciate the free access to shows, and movies, an excessive number of ads can be off-putting. However, industry players are increasingly focusing on ad personalization, and targeted advertising; in order to enhance the viewing experience. A report, by Nielsen, states: that personalized ads, on connected TV platforms, are twice as effective as non-personalized ads. By leveraging user data, and preferences, FAST TV platforms can deliver more relevant ads; resulting in higher engagement, and improved viewer satisfaction.
In conclusion, the rise of Free, Ad-Supported Streaming Television (FAST TV) has disrupted the traditional TV landscape, and transformed the way in which audiences consume content. With millions of users, flocking to these platforms, the appeal of free access to a wide variety of shows, and movies, is undeniable. As the industry continues to evolve, media conglomerates are investing heavily in FAST TV services; while advertisers are capitalizing on the opportunity to reach a targeted audience. With the number of cord-cutters on the rise, the future looks promising for FAST TV; revolutionizing the entertainment industry, as we know it.
Currently, next-generation streaming platforms – like: BitMar – may provide you the most affordable form of on-demand streaming entertainment. BitMar provides all-in-one streaming service, for life, for a one-time payment, of: $99.99 USD. It can connect you to millions of on-demand movies, TV shows, channels, videos, and songs (from many different sources on the Web), on the screens that you already own. In fact, BitMar provides access to more movies, and TV shows, than: Cable, Satellite, Netflix, Disney Plus, Max/HBO Max, Amazon Prime Video, Apple TV+, Peacock, and Hulu – combined – and more songs, than: Pandora, Spotify, Amazon Prime Music, and Apple Music—combined. You may learn more, at: BitMar.com.