Xumo 2024 FAST Report Reveals Shifting Entertainment Habits Toward Free and Easy Streaming
04 Juin 2024 - 4:00PM
Business Wire
Time-Spent Watching FAST During Primetime
Hours Rivals Gaming, Social Media and Cable TV
70 Percent of FAST Users Can Always Find
Something to Watch on Free Streaming Channels
Xumo, together with FASTMaster Consulting, today released a new
research report, 2024 FAST Market Update. Taking an in-depth look
at viewers’ engagement with free ad-supported streaming TV (FAST),
the new report provides the industry, including content owners and
advertisers, with meaningful insights into the role FAST plays in
consumers’ evolving entertainment decisions. It offers insight into
topics like who is watching, when and how much they watch, why they
watch, and how FAST viewing compares to other major forms of
entertainment.
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Xumo 2024 FAST Report (Graphic: Business
Wire)
“The findings of this report underscore the increasingly
important role FAST plays in today’s entertainment landscape,
dispelling myths and highlighting the diverse, engaged, and growing
audience that finds value in our free and easy streaming,” said
Stefan Van Engen, Vice President, Content Programming and
Partnerships, Xumo. “As engagement levels during primetime rival
other major forms of entertainment, it’s clear that FAST is
becoming a part of people’s everyday lives.”
Despite being a relative newcomer to the entertainment
landscape, the findings reveal FAST is becoming a primary means of
entertainment for today’s consumers, with a third of American
adults saying they regularly watch FAST channels during peak
primetime hours. Additionally, time spent watching FAST channels is
on par with other forms of entertainment. Specifically, the average
FAST viewer spends one hour and 40 minutes watching FAST channels
in the evening, whereas a gamer typically spends one hour and 42
minutes playing video or mobile games during this same timeframe.
Consumers also said they scroll social media for one hour and 53
minutes, while cable TV customers spend one hour and 58 minutes
watching cable network programming.
“There are many myths about FAST which are often bandied about
by external onlookers, such as FAST viewers watch because they have
no alternatives or they are a less desirable consumer for
advertisers,” said Gavin Bridge, Chief Analyst, FASTMaster
Consulting. “I am very happy that Xumo has sought to address this
via research into who watches FAST, dispelling false narratives
with facts and illustrating why FAST continues to grow and needs to
be part of any marketer’s toolkit to maximize reach.”
Other findings of the report explore topics like the who, what
and why of FAST viewing:
Who is watching
- Pay TV customers watch more FAST than cord-cutters or
cord-nevers: Nearly half (47%) of consumers that subscribe to a
pay-TV service say they also regularly watch FAST. In comparison,
46% of cord-cutters report being regular viewers of FAST, while
only 35% of cord-nevers say they do.
- FAST viewers trend younger and more diverse. While 46% of the
US. adult population is between the ages of 18 and 44 according to
the U.S. census, 58% of FAST viewers fall within that range.
Additionally, Black viewers represent 20% of FAST’s audience,
compared to 14% of the U.S. population. Similarly, 23% of FAST
viewers have Latino origins, compared to 19% nationally.
What they watch
- FAST viewers over-index on news, movies and crime TV. Together,
these genres represent 58% of total viewing hours on Xumo Play, but
only account for 11% of total channels.
Why they watch
- FAST is a reliable form of entertainment. Nearly 70% of FAST
users say they can always find something to watch on free streaming
channels.
- FAST is becoming a top choice for many viewers. More than half
of FAST users say it is one of their favorite forms of
entertainment.
The data in this report is from a market research project Xumo
commissioned with FASTMaster Consulting, which collected responses
from 4,000 U.S. adults among varied age, gender and ethnicity
groups between the third quarter of 2023 to the first quarter of
2024.
About Xumo
Xumo, a joint venture between Comcast and Charter, was formed to
develop and offer a next-generation streaming platform for the
entire entertainment industry. The company is defined by three
primary lines of business: Xumo devices, Xumo Play, and Xumo
Enterprise.
Powered by Comcast’s global technology platform, Xumo devices
feature a world-class user interface that includes universal voice
search capabilities, making it easy for consumers to find and enjoy
their favorite streaming content. Xumo Play is a free ad-supported
streaming TV (FAST) service with hundreds of ad-supported linear
channels and on demand options that anchors the free content
offering on Xumo devices and is also available as an app on other
major streaming platforms. Xumo Enterprise is the
business-to-business arm of the joint venture, providing content
makers, distributors and advertisers with tools and services to
make FAST content more accessible.
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version on businesswire.com: https://www.businesswire.com/news/home/20240603643564/en/
Debbie Frey 215.983.0563 debbie_frey@comcast.com
Comcast (NASDAQ:CMCSA)
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