The FAST channels business is booming, and it is finally cutting through with traditional TV viewers in Europe, said a panel of experts at MIA Market this morning in Rome.
Paramount+ and Pluto TV SVP of Streaming for Italy and South EMEA Antonella Dominici recalled how early FAST adopters such as Paramount’s CEO and President of Streaming and co-founder of Pluto TV Tom Ryan had created the market in the 2010s, and explained why Europe had taken longer to catch on.
“Everything started in the U.S., like a lot of phenomenons,” she said. “We are late compared to the U.S., but there have been more traditional viewers who are staying on traditional platforms. Here we have a different way of watching TV. We are trying to put in place everything we can to accelerate this.”
Dominici told delegates that Europe was finally beginning to take the shape of the more established U.S. FAST market with viewers now trying out the variety of single IP, branded and thematic channels offered through various providers. Pluto TV is currently in 35 countries and has more than 400 partners, meaning it can offer more than 700,000 in total. In Italy, where MIA is taking place, the AVOD streamer has 130 channels offering the likes of Blue Bloods, South Park and the Star Trek franchise through a variety of means.
“We are going where the customer is available, and trying to reach them with our main IPs,” she said. “Library content that is not less appealing [than premium originals]. If people just want a linear experience, the platform is still mainly linear. We offer a segmented line up so customer can save the paradox of choice. They just need to know what kind of content they want to watch.
She added that Paramount+ and Pluto TV have “some IP in common, but added: “There is no strategy of switching customers. It’s just the possibility of reaching customers. We just offer what people want to watch.”
The topic of reaching audiences was a key theme throughout the panel this morning with Cédric Monnier, CEO and co-founder of French FAST provider Okast, saying the market had developed to the stage where it “is a bit like back to the old cable times… With so many channels, how do I make a choice?”
Monnier unveiled research based on FASTEU and 3Vision statistics from 2023 that showed the FAST market was, err quick to dump channels that are “not perfuming,” with 27% dropped across the main European territories of the UK, Germany, France, Spain and Italy. Furthermore, he said channels launches were slowing and older ones being filtered out, but that the likes of BBC Studios, Sony and Warner Bros. Discovery had begun partnering with platforms more regularly to launch their library content.
His data showed “single IP” channels — those that offer only one brand or one show — are “really working,” with scripted leading the way, followed by entertainment nets, movie channels, sports and then kids content.
Cristina Sala, Italy Country Lead for Samsung TV Plus, said the market had moved on even from last year and that there was a burgeoning market developing for ‘re-broadcast’ channels, which simply transmit traditional linear networks via streaming, and pointed to the challenge of discoverability.
“Big broadcasters are coming on board and it is a very big change,” she said. “There is an interconnection between the FAST channel and how you discover the content. You can have many interesting applications but you are [primarily just going to look to the] the first bar” of an interface.
Paramount’;’s Dominici said there is “a difference between being a rights holder and a platform,” adding: “When you are a rights holder and a pure content platform like Pluto, you have to become top of mind so [customers] understand what it is and look for the content.”
She pointed to local partnerships such as the one Pluto TV recently struck with France’s M6, in which 12 Pluto channels offering 3,000 hours of content are now available through AVOD streamer M6+, while Pluto will also host M6 content. Instead of fighting, you become friends,” she said.
Mauro Panella, co-founder of Italian FAST channels network FCN, said: “At the end of the day, this is TV that we have known for decades. We’re just changing the way it’s distributed. Platforms and manufacturers need to help to reach the TV audience and at the other end, traditional TV channels and distributors need to find advertising that is no longer on traditional TV.”
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