Report: FAST channels, generative AI trend in TV market
October 11, 2023
From Branislav Pekic in Rome
The European TV market is in a state of flux, with traditional pay-TV and advertising losing ground to streaming services, according to the XXI edition of the annual Turning Digital report from Rome-based ITMedia Consulting.
The report recorded a slowdown in the growth of the TV market in Europe in 2022, after the rise in 2021 characterised by the post-pandemic recovery, largely cancelled out by the strong increase in inflation.
SVoD services in particular have seen strong growth in recent years, but are now starting to show signs of maturity, with churn and stagnation in subscriptions, while AVoD is expected to become a growing source of revenue in the coming years.
The report highlights two emerging trends that could have a major impact on the TV industry in the future:
- FAST channels are destined to become the next big thing and, even if currently only the US represents a fertile market with great prospects, the phenomenon is destined to expand.
- Generative AI, a type of AI that can be used to create new content, such as scripts, videos, and images, is expected to reduce production costs and make it possible to create more personalised content.