Survey: US CTV users increasingly prefer FAST
April 5, 2024
Sixty-nine per cent of US CTV users prefer streaming free, ad supported streaming TV (FAST) content instead of a paid subscription without ads, and over half (53 per cent) spend two or more hours per week using FAST applications, according to a study, The Big Shift: Wave III, from connected TV and cross-screen advertising specialist LG Ad Solutions.
“Consumers are now overwhelmingly open to ad-supported streaming content, signaling a seismic shift in their CTV habits,” said Tony Marlow, CMO at LG Ad Solutions. “Far from the era of passive TV consumption, this latest research gives us a peek into a future where CTV thrives as an immersive, personalised platform. It is now a place where people engage with the personalised content they love and where marketers can connect with those audiences through highly relevant messages. It’s a win-win for the entire ecosystem.”
The study, which surveyed over 1,100 US CTV owners, also revealed:
- Time spent searching for what to watch increases: While over half (56 per cent) of US CTV users prefer watching content via streaming applications, it now takes viewers almost 12 minutes on average to decide what to watch, up from 6 minutes the prior year. In addition, over a third (38 per cent) cite too many content choices as their top challenge when looking for content to watch – with 37 per cent stating they can’t remember what platform content is on.
- Content abundance is fuelling subscription app cycling: 63 per cent of viewers are likely to sign up for a streaming subscription service to watch specific content and then cancel/pause their subscription after watching.
- FAST content consumption is speeding up: CTV users find interactive ads of interest: 42 per cent of viewers prefer ads that have interactive features, and 71 per cent of viewers like TV ad creatives that include a QR code. In addition, 62 per cent are open to scanning a QR code, and 38 per cent are likely to make a purchase after scanning a QR code on a TV ad.
“As content continues to proliferate across channels and platforms, making content more discoverable through strategies like leveraging the OEM Home Screen will be vital to capture consumer eyeballs,” added Tony Marlow, CMO at LG Ad Solutions. “In fact, two in five CTV users already rely on the TV home screen for content recommendations, and we expect that to continue to grow.”