61% of Canadian consumers surveyed prefer to stream free, ad-supported TV (FAST) content over paying for a subscription, and this was just one of the findings from a new connected TV study.
FAST has been growing fast and doesn’t seem to be slowly down at all. So much so that many existing streaming services and companies have tried to get in on the action by either offering an entirely free service or adding FAST channels and content to their existing services.
According to a new study by LG Ad Solutions, a partnership between LG and Alphonso, FAST services are proving particularly popular with Canadian consumers. The study not only found that 61% prefer to stream free, ad-supported content rather than pay for a subscription, but 24% of respondents spend 2-5 hours per week watching free, ad-supported TV apps.
“Compared to U.S. consumers, Canadian TV viewers are more likely to search online, visit a website, and talk about an ad or product after seeing a connected TV ad,” Jason Randall, Country Manager, Vice President of Sales, Canada, LG Ad Solutions, said.
While many might simply view and use FAST services as a way to supplement their existing paid subscriptions and services, it would seem that FAST has matured enough that some are willing to rely more heavily on free services.
According to the same survey, “one in three viewers have canceled a streaming service to save money” and 55% “are willing to cancel a subscription after watching the desired content.”
For background, The Big Shift: Canada Wave II study took place in June 2023 and involved surveying more than 750 Canadian consumers on their perceptions and behaviors related to connected TV.
While not the biggest of studies, it is just the latest. Back in January of this year, Roku announced the results of one of its studies and found very similar results.
According to Roku’s Video-on-Demand (VOD) Evolution study, 52% of Canadians are using FAST services, with Canadian TV streamers spending five hours per week watching ad-supported content.
The same Roku study also found similar intentions towards paid streaming services. For example, 18% were planning to cancel or downgrade their cable/satellite package in the next 12 months, and 47% were generally reevaluating the selection of TV streaming services they use on a regular basis.