BANGALORE, India — June 13, 2023 — Amagi, the global leader in cloud-based SaaS technology for broadcast and connected TV, has released its seventh edition of the Amagi Quarterly Global FAST Report, providing valuable insights into the Asia-Pacific (APAC) region’s connected TV (CTV) landscape. The report unveils remarkable growth in CTV users and highlights the factors driving the surge in free ad-supported streaming TV (FAST) across APAC.
According to the report, the number of unique CTV users in the APAC region witnessed an impressive increase of 247% from the fourth quarter of 2021 to the fourth quarter of 2022 (October through December). This substantial growth signifies the rising popularity of FAST among consumers. Amagi leveraged its cloud-native software analytics and a survey of APAC consumers to compile this data.
The report reveals that the demand for free content is the primary catalyst for the significant growth of FAST in the APAC region. As a result, the report emphasizes that now is the opportune time for broadcasters and platforms to explore the region further and expand their offerings to meet the evolving needs of consumers and businesses.
Among the noteworthy findings, the report highlights a consistent rise in viewing hours (HOV) and ad impressions among TV users in India and Australia. India, in particular, experienced remarkable growth, with a 63.3% surge in HOV and a 77% rise in ad impressions. These figures indicate the increasing adoption of CTVs and the growing engagement of viewers with ad-supported content.
The Indian CTV market is booming, with an estimated 20-22 million households utilizing CTVs.
This number is projected to double by 2024, presenting significant opportunities for broadcasters and platforms to tap into the Indian FAST market. Furthermore, in the fourth quarter of 2022, India emerged as the frontrunner in channel deliveries, exhibiting an impressive year-on-year growth of 142%. The Philippines closely followed with 81%, while New Zealand, Japan, and Australia demonstrated growth rates of 74%, 73%, and 50%, respectively.
The report relies on data aggregated from Amagi’s homegrown data analytics platform, Amagi ANALYTICS. This platform consolidates insights from over 50 FAST platforms and approximately 2,700 channels operating on Amagi’s SSAI (Server-Side Ad Insertion) platform, Amagi THUNDERSTORM. The findings are further complemented by data collected through the Amagi Consumer Survey, which surveyed nearly 600 APAC households from August 2022 to January 2023.
CTV penetration rates in India, New Zealand, and Australia prove noteworthy, surpassing that of the United States, the leading FAST market, which stands at 80.6%. India boasts an impressive CTV penetration rate of 87%, followed closely by New Zealand and Australia at 82% and 81.2%, respectively. These figures emphasize CTV viewership’s substantial presence and growth in these APAC countries.
The report also delves into the viewership trends across genres in the APAC region. Notably, the news genre emerged as the most popular, witnessing a significant surge of 49% in ad impressions and a notable increase of 39% in viewership. The appointment of Rishi Sunak as the 57th Prime Minister of the United Kingdom on October 25, 2022, played a role in this surge, as news viewership experienced a remarkable spike of 46.32% compared to the average viewership for the rest of the month.
Furthermore, the report analyzes the TV-viewing habits of consumers in the face of a potential recession.
Interestingly, Indian consumers were more inclined to retain their paid subscriptions rather than switch to FAST services, even during an economic downturn, with 56% of respondents expressing this preference. However, approximately 33% of Indian consumers showed an interest in FAST services, indicating the potential for increased adoption rates in the future.
Baskar Subramanian, CEO and co-founder of Amagi, provided insights into consumer patterns during economic downturns, stating,
“Given an economic downturn scenario, we see a consistent consumer pattern in India, New Zealand, and Australia. 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.”
In conclusion, the Amagi Quarterly Global FAST Report highlights the substantial growth in CTV users and the increasing demand for free ad-supported streaming TV in the APAC region. The report’s findings emphasize the need for broadcasters and platforms to seize the opportunities presented by this evolving market. By understanding consumer behavior, genre preferences, and CTV penetration rates, industry players can adapt and expand their offerings to effectively cater to the growing audience in the APAC region.
