As local TV station groups focus on fine-tuning their streaming news services, they are finding that the amount and immediacy of data means they can adapt content strategies on the fly, said a panel at TVNewsCheck’s NewsTECHForum in New York City last week.
There’s good reason for TV stations to be focused on free ad-supported television (FAST) channels and other digital platforms — they have become a rapidly growing business.
“In the aggregate, FAST channels have generated $7.3 billion this year and that’s projected to grow to $34 billion in 2027 amidst a rising tide of consumer usage and a rising tide of monetization that’s complementary to local,” said Greg Morrow, GM of ViewNexa by BitCentral.
“The numbers for FAST for news content are off the charts,” said Rick Young, SVP, head of global products, LTN. “The numbers show that half the FAST channels out there are news and half of the viewing time [on those channels] is news. That’s massive. And the more real-time, the more live the content is on those channels, the more demographics that you want will find them, whether they are male or younger.”
While CBS started implementing FAST and digital streaming in 2014, it’s only been within the last three-to-five years that most local station groups have gotten their live-streaming operations off the ground with services such as Fox’s LiveNow, Gray’s Local News Live and CBS’ local news apps. The relative newness of these services means that they are still in experimental and iterative