LG is all set to enhance its offerings by increasing the number of sports content in its FAST offering. LG TV has leveraged the concept of FAST channels and recently added the FIFA+ channel to its content library.
This addition provides a wide range of original football content, including live matches, documentaries, and interviews. With the Women’s Football World Cup underway, introducing the FIFA+ channel into the LG TV ecosystem will greatly benefit viewers across Europe, Latin America, and Australia.
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Why is LG moving towards FAST channels?
LG TV launched its FAST Channels services in 2019, and with the continuous addition of FAST-based channels, LG has managed to triple its user base in Europe in 2022.
Dated back to October 2022, LG conducted a survey of over 1000 consumers in the UK, and the study showed that 71% of consumers prefer an ad-supported model of connected TV, and 23% have cancelled their existing paid subscriptions and moved towards free ad-supported services.
LG TV is not limiting itself to football.
It has partnered with WedoTV Channels to introduce Wedo Sports to viewers in Germany, Austria, and Switzerland. This collaboration will offer a diverse range of sports, from horse racing events and sailing competitions to special weekly programs on football, Formula 1, E-sports, and martial arts.
Along with the live events, Wedo Sports has also produced documentaries on sports personalities like Tiger Woods, David Beckham, Michael Schumacher, and Manchester United.
And Wedo also provides German language support, a bonus for regional personalisation.
In addition, LG has launched Shoot for Love, a YouTube-based channel in an Advertising-Based Video on Demand format. This channel is popular among football fans across Europe and has almost 916K subscribers with over 6.5M+ monthly views.
Shoot for Love, a YouTube-based channel being added to LG TV
The next addition to LG’s extensive list of sports channels is Unbeaten, which features the biggest events across Europe in football, tennis, and golf. LG plans to launch it in five European countries.
With a series of major tennis events taking place in the EU & UK, like the Wimbledon, French Open, Davis Cup, ITF World Tennis Tour, Lexus British Open Wheelchair Tennis Championships etc., LG has planned to launch a 24-hour dedicated channel for tennis in the UK, Germany, and Austria.
LG’s strategic partnership with DAZN
Previously, during May, LG partnered with DAZN and launched various FAST-based sports channels, including DAZN FAST, DAZN Combat, DAZN Rise, and DAZN Women’s Football. These channels cover various sports, from MMA Combat to Women’s Football events like the UEFA Women’s Championship.
DAZN will cover major football events like Spanish First League and Women’s Bundesliga, along with other sports like hockey, boxing and basketball.
In Jan 2023, it was reported that DAZN showed its losses widened to $2.3 Billion, with operational losses at $1.36 Billion. This was up 70% from 2020.
Samsung TV Plus’ FAST Bet
A few days ago, Samsung TV Plus partnered with the FIFA+ Channel and launched the FAST-based channel for its viewers, enabling them to watch the ongoing Women’s FIFA World Cup.
This strategic move is part of the company’s ongoing efforts to expand its free-access sports offerings for Samsung customers.
Samsung launched its FAST Channel services in 2015, and from then on, it has been a market leader by providing over 1600+ channels globally with 465 million devices.
Samsung has witnessed a watch time of 3 billion hours in 2022.
What is FAST?
FAST is an acronym for Free Ad-Supported Streaming TV. As the name suggests, this OTT content delivery model has two primary characteristics: free content for the user to consume, and the streaming is ad-supported.
FAST channels are witnessing a significant increase in their revenue numbers. The revenue for the US region was estimated to be $4 billion in 2022, projected to rise to $9 billion by 2026. This trend is also gaining momentum in Europe, Canada, Australia, and India.
Will this rapid growth in user traction and revenue will also pull the top OTT platforms to move towards FAST? Click to know the Future of FAST.
With over nine years of diverse professional experience, Ragul has made significant contributions across various domains, including Media Operations, OTT Technologies, Video Production, Ecommerce, and Social Media.
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