Giving your content a second life: Could FAST be the answer?
The streaming wars are in full swing. In January streaming aggregator Flixed provided what they call “The Complete List of Streaming Services in 2022 - 200+ Services” naming over 200 streaming services that consumers can choose from this year.
With this kind of competition, how are streaming services able to attract viewers, moreover lock them in for the long term?
So far, in the game of SVOD, the strategy has been to maintain a steady release of original content. And although successful originals are the main driver of new subscribers, platforms need to think of alternative ways to drive viewers - especially considering the amount of time that an average viewer binges a show.
According to a study by Netflix, “fast bingers” will finish the first season of a show in as quick as four days. Services have started doing weekly releases which is a better way to stretch out a subscription and keep viewers on their platform longer but there is still more that can be done.
EriK Hoffman says “looking back a few years when House of Cards was the front-runner for Netflix, it was a great production. This one specific show drew in a lot of new subscribers but nowadays I can’t imagine that Netflix gets any new users due to House of Cards, even though there was so much money put into it. And that applies to more or less every TV show or movie that they create.”
Even though older content won’t be front runners or main drivers to get more customers onto subscription services, there are ways that platforms can monetize their back catalog moving forward to generate more interest and revenue.
This can be to sell the rights to other services, just as some broadcasters have broadcasted reruns in non-primetime slots on their channels in the past. However, we are not talking just linear TV.
A hybrid between AVOD and SVOD, FAST (AKA Free Advertise Supported TV) is all the rage right now. FAST offers a layback linear experience that holds big potential for back catalog content.
Why?
Well, I don’t know about you but when I watch linear TV, I normally pick something I’ve seen before.. I usually watch old movies or shows that I have seen a hundred times but wouldn’t normally choose to watch if I was on Netflix or HBO - such as Friends reruns.
By exposing your older content to these channels, you can give them a second life and remind viewers of the type of content you have to offer.
If you want to take it one step further, creating your own FAST channels with old content (think of something like a Netflix Comedy channel broadcasted on Roku, YoutubeTV or any other third-party platform broadcasting FAST channels) gives you the opportunity to create niche viewing communities where you can advertise new productions that will be popping up on your SVOD platform to the perfect target group.
Just because you had a show that was a hit but has run its course on your subscription platform, doesn’t mean its time is over. Monetize your old content by selling the rights to other channels and create new opportunities for viewers to see your past successes and remain loyal when your newest hit comes in.
Clipsource has been hired by some of the industry’s finest entertainment brands to streamline marketing and communication workflows and gain more exposure for their content. Contact us today to learn more about how you can scale down to one platform for all of your needs.
