FAST (free ad-supported streaming television) is attracting tens of millions of viewers as consumers look to lower their overall cost of television viewing, according to a new report, “The 2023 State of FAST,” released jointly by Xumo and Comcast Advertising.

As consumers change their habits, advertisers are shifting as well.

“After devoting more ad spend to the channel in 2023 compared to 2022, 84 percent of buyers think they will increase their FAST investments even more next year,” said Xumo and Comcast in a press release. Consumer interest and awareness continues to grow around the medium, they said. Some 94 percent of FAST impressions are delivered on the TV screen.

Free Ad-Supported Streaming TV

Nearly half of advertisers are currently using FAST in their media buying and planning because it helps them reach their audiences incrementally, more accurately, and more cost effectively than other methods. Three in five FAST buyers use it to target a specific audience, and over half of advertisers use FAST because it expands the reach of their audience.

“Every month, FAST channels are attracting tens of millions of viewers due to the plethora of high-quality programming including content like local news, niche sports, themed movies, enthusiast TV shows, and more,” Marcien Jenckes, Xumo president and managing director, Comcast advertising, said in a prepared statement. “The results of this research highlight how the advertising industry is responding to FAST, and their increasing interest in its monetization potential.”

The 2023 State of FAST mirrors findings in a TiVo Video Trends Report released earlier this year. That report found that ad-supported video on demand (AVOD) and free ad-supported streaming TV (FAST) were gaining in popularity at the expensive of subscription streaming video services.

That report also noted that for the first time the average number of video services that customers use had hit double digits. Consumers were using 11.6 video services, an increase from 8.9 a year earlier and 9.9 in the previous quarter.