FAST Channels See U.S. Music Boom
Music TV is hot again.
The format is seeing tremendous growth in FAST, which seems to be the alchemist’s stone for revitalizing formats once deemed passé. First it brought back linear as a concept after it was considered dead when live TV viewing figures fell off the cliff.
Now music videos are a fast-growing space within free ad-supported streaming TV, when the likes of MTV are dedicated almost exclusively to reruns of “Catfish” and “Ridiculousness” (the irony being that cable networks have basically become what FAST channels were two or three years ago).
June 2023 saw a total of 114 music-based FAST channels, an increase of 41% on the 81 available a year ago. The categories driving this growth are video channels, with 18 more available (40%), and audio, which saw 14 more channels added (a 58% increase).
Most major FAST services have considerably added to their music lineup over the last year. Tubi is the sole service to offer none, with nine services having 10 or more. In terms of channel additions, Plex has the most at 33, just edging out Freevee, which has gone from zero for music to 32 as part of its tremendous channel growth in the last year.
The importance of music channels to FAST is clear when looking at the demographics of viewers. Insights firm Maru found that music was one of the only genres to see a clear favoritism among younger viewers, which becomes more even more important when considering that most FAST channels currently are geared toward viewers 35 or older.
The growth in FAST music has seen an expansion in output from many key operators in the space. Dutch-owned Xite has gone from operating 4 video channels a year ago to 23, whilst Canadian service Stingray has maintained its position as second in total offerings.
IHeart Media has added 10 more channels, with Vevo adding two others, but more will be on the way per its NewFronts presentation. MTV operates five music video channels — four branded MTV, one for CMT — with French-owned Trace having three alongside Warner Music’s new WMX brand and two from Quincy Jones’ Qwest TV.
In terms of overall domestic distribution, Vevo dominates. VIP+ reached out to the streaming giant for comment, with SVP of U.S. Sales & Global Distribution Rob Christensen having this to say:
"It's no surprise that there is growth in music channels on FAST — after all, music videos as we know it flourished on the television for decades. Music videos differ from other content sets in that they are global, universally appealing to mass audiences, while also deeply personal to specific groups of consumers, including all cultural groups and demographics.
"Music video channels therefore have become essential for platforms looking to round out a diversified content offering that attracts and retains an engaged audience. In addition to fans, these channels draw in advertisers looking to surround themselves with such influential, star-studded content."
Given the success the format has found within FAST, an easy prediction for the space is for the number of channels to continue to increase over the coming year. VIP+’s estimate is that we will see north of 130 by the end of 2023 and close to 150 by this time next year. The boom will continue.
ncG1vNJzZmiukae2psDYZ5qopV%2BrtrF71GaqZp6RqMFutdJmqp6dmaO0bq2MpqysoZNisKmtzaecpWWSpLyuedWerahlmZ2yor7TZqqtoZ6cv6LFjGppbG1maoN5hZJo