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60% of American Households Are Using FASTs

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60% of American Households Are Using FASTs

2 Min Read

According to a recent survey from Deloitte, subscription growth for subscription-based video-on-demand (SVOD) has slowed. 44% of consumers believe they’re paying too much for SVOD services, and 24% intend to reduce their subscription count in the future. This shift is in part due to rising financial pressures, with nearly half of consumers saying they’ve made a change to their entertainment subscriptions because of current economic conditions. Millennials are particularly affected by subscription fatigue and cost-sensitivity, and although they spend the most on paid streaming video services, they also churn through SVOD services at the highest rates.

Many consumers are instead either opting for cheaper ad-supported tiers from their favorite platforms or turning to free ad-supported streaming services (FASTs). Roughly 60% of households are now using FASTs, and about four in 10 say they are watching more ad-supported streaming video than they did a year ago. Ultimately, having cheaper, ad-supported options will be key for streaming media providers who want to hold onto these cost-conscious consumers.

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