Trend Details

FAST Gaining Popularity Worldwide

Video streaming services are gaining popularity worldwide while traditional broadcasters retain strong demand in regions like Europe. By Ching Wai.

US - Omdia’s media & entertainment research director Maria Rua Aguete presented research data at Connected TV World Summit on 13 March. Youtube remained dominant worldwide as the most-watched video service in 2023. However, there are shifting trends in consumption. One evident example is FAST platforms like Tubi and Roku entering the top ten most-used video services in the U.S. The growing trend of consumers patronising free content streaming services is happening globally, and streaming services are responding to the change. Rua Aguete predicts that all major SVOD services will have advertising tiers by the end of this year.

The landscape of video streaming services continues and will continue to undergo significant transformations. In the U.S., FAST services have continued their increasing popularity amongst consumers, with Tubi and Roku being the 6th and 7th most used services on a monthly basis respectively. The average number of free video services per video user increased from 6 to 7.5 services in the U.S., and from 5.1 to 6.2 services in the U.K.

Traditional free TV and broadcaster video on demand services such as BBC iPlayer in the U.K., MyTF1 in France and ZDF Mediathek in Germany retain a strong demand. In the UK, free-to-air content like BVOD services and social media platforms are the most popular services, with FAST services coming in as third. The number of SVOD services per home declined in markets globally for the first time while free video services has, conversely, gained popularity.

Consumer behaviour changes in line with the increasing dominance of streaming services and social media platforms in the audiovisual entertainment industry. For example, Omdia found that social media platforms like Instagram Reels and the increasing number of free TV options like ITVX, BBC Player and Channel4 have collectively changed British consumer behaviour. Rua Aguete stated “[w]hether these changes are happenings in response to the cost of living increases, paid subscription fatigue, or other factors, it underscores the evolving preferences of consumers who increasingly have more places to go to access video content.”

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