Amagi publishes latest Global FAST Report
- 14 June, 2023
IND: Amagi, the global leader in cloud-based SaaS technology for broadcast and connected TV, found that the number of unique connected TV (CTV) users in the Asia-Pacific (APAC) region increased by 247% from the fourth quarter of 2021 to the fourth quarter of 2022 (October through December). This finding comes from the seventh and latest edition of Amagi's Quarterly Global FAST Report, which combines analytics gathered from the company's cloud-native software with a survey of APAC consumers. The report confirms that demand for free content is the biggest catalyst for the growth free ad-supported streaming TV (FAST) in the APAC region, demonstrating that now is the opportune time for broadcasters and platforms to explore the region further and expand their offerings.
The report further reveals that there is a consistent rise in hours of viewing (HOV) and ad impressions among TV users in India and Australia. India saw the largest growth, with a 63.3% surge in HOV and a 77% rise in ad impressions. The report also highlights that the Indian CTV market is booming, with 20-22 million households currently using CTVs. That number is projected to double by 2024. This shift in consumer behavior opens opportunities for major players to enter India's FAST market. As per the report, in the fourth quarter of 2022, India emerged as the frontrunner in channel deliveries, showcasing an impressive year-on-year growth of 142%. The Philippines followed closely at 81%, with New Zealand at 74%, Japan at 73%, and Australia at 50%.
This edition of the report aggregates data from Amagi's homegrown data analytics platform, Amagi ANALYTICS, which brings together data and insights from over 50 FAST platforms and approximately 2,700 channels, all of which operate on Amagi's SSAI (Server-Side Ad Insertion) platform, Amagi THUNDERSTORM. These findings are further supplemented by data gathered from the Amagi Consumer Survey, which surveyed nearly 600 APAC households from August 2022 to January 2023.
CTV Adoption Rates See a Steady Climb: Surprisingly, the data revealed that India, New Zealand, and Australia have relatively comparable figures, with CTV penetration rates of 87%, 82%, and 81.2% respectively. These rates surpass that of the United States, the leading FAST market, which stands at 80.6%.
Favorite Genres Across APAC: The news genre emerged as the ultimate victor, witnessing a significant surge of 49% in ad impressions and a notable increase of 39% in viewership. Following Rishi Sunak's appointment as the 57th Prime Minister of the United Kingdom on October 25, 2022, news viewership in the APAC region experienced a remarkable spike of 46.32% compared with the average viewership for the rest of the month.
TV-Viewing Habits and Recession - What the Future Might Hold: At 56%, Indian consumers, in contrast to their counterparts in the U.S., Australia, and New Zealand, showed a greater inclination to retain their paid subscriptions rather than switch to FAST services even if their economy were to be in a recession period. Nearly 33% of Indian consumers currently displayed an interest in FAST services, meaning there is still bright potential for increased adoption rates in the future.
"Given an economic downturn scenario, we see a consistent consumer pattern in India,
New Zealand, and Australia," said Baskar Subramanian, CEO and co-founder of Amagi.
"The majority of individuals in these countries (43-53%) prioritize cutting travel expenses as their initial cost-cutting measure, and opting out of paid TV subscriptions follows suit. Interestingly, these findings align with the U.S., where 48% of households prioritize reducing travel expenses and 33% are willing to give up paid TV subscriptions."
You can download the latest edition of the Amagi Quarterly Global FAST Report here.
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