With new streaming services cropping up almost every week accompanied with varying levels of subscription fees, consumers are feeling the drain on their bank accounts. The solution? Free ad-supported streaming TV channels (FASTs). FASTs have changed the game by providing consumers with engaging, premium content at zero cost. Consumer attitudes towards FASTs are positive, paving the way for brands to reach their target audience efficiently.
We conducted a qualitative and quantitative research study earlier this year, examining the attitudes of consumers in CTV households towards FASTs, including LG’s own offering, LG Channels, among various other types of platforms and services. Our research shows how FASTs have increased in popularity over the last few years, with 80% of smart TV owners being aware of FAST Channels and more than half using them to discover and watch content.
Here are a few takeaways from the study:
FAST Channels Are Seen As A Replacement For Cable / Satellite TV
Nearly two-thirds of CTV users agree they’re less likely to subscribe to cable or satellite TV because of the easy accessibility and wide prevalence of FAST channels. Over 70% of those who have never had a cable / satellite subscription or who have canceled their cable / satellite subscription agree that they are less likely to subscribe to cable/satellite TV. Even a majority of current cable / satellite subscribers agree that they are likely to cut the cord in direct connection with the growth of FAST channels.
FAST Channels Provide An Alternative To More Subscriptions
With the proliferation of subscription streaming options, smart TV owners view FAST Channels as an alternative to paying for a subscription. Over 80% of smart TV (including LG) owners prefer watching shows for free through FAST channels versus paying for more subscriptions.
FAST Channels Viewers Are More Receptive To Ads
Nearly two-thirds of FAST Channels viewers have medium to high ad receptivity. This means that brands that place their ads on FAST channels are more likely to have higher audience engagement. In addition, ad receptivity on FASTs is higher than on cable or satellite networks.
LG Smart TV Users Have The Highest Awareness Of FAST Channels
Nine in ten LG TV users are aware of FAST Channels on their LG smart TV, which is significantly higher than other brands. Nearly half the LG smart TV users regularly use LG Channels. LG Channels offer opportunities for brands to connect with audiences through CTV video ads. Like the linear TV experience, viewers see ads during regular breaks in programming.
With piling subscription costs, FASTs are the next big thing for TV viewers. FAST Viewers are expecting to see ads and are more likely to pay attention to them. This makes FASTs an ideal platform for brands looking to enhance awareness or improve conversion. In our report below, we outline further details about FAST audiences including demographics and the kind of ads that resonate most with this group. To learn more, download the full report below or contact us here.