FAST IS A FORMAT, NOT A BUSINESS MODEL

Why rights strategy, not just distribution, will define the future of ad-supported streaming

Here is a thought: FAST is overhyped.

What began as a clever way to monetise long-tail content in the U.S. has become a global buzzword, especially among media operators and capital partners searching for a post-SVOD growth story.

There is perhaps an uncomfortable truth from our lessons in Latin America whilst we prepare for a US-H launch:

FAST isn’t a business model. It’s a delivery format. Just like DVD, cable, or early mobile streaming once were.

The issue with formats alone is that they do not scale value. What scales is the model that sits behind them: the rights architecture, monetisation levers, and platform integration strategy that turns content into durable revenue.

The “FAST Illusion”

FAST (Free Ad-Supported TV) channels sound great in theory:

• No churn

• Low acquisition cost

• Library-friendly

• Platform demand

But if all you’re doing is dropping catalogue content into a 24/7 stream with minimal metadata and a few non-skippable ads, you haven’t built a business.

You’ve built digital wallpaper. FAST, in this model, is a shelf, not a store.

Don’t make fast work of FAST

It is a mistake to see FAST as a destination. We use it as one layer in a multi-format monetisation engine that has elements which separate sustainable FAST strategies from speculative ones:

Rights Architecture

Success starts with how rights are cleared and structured:

• Format-specific windows (SVOD, AVOD, FAST) allowing you to optimise ROI

• Language versions and territory rights – subs always, dubs where needed

• Exclusivity carve-outs – there are a number of ways to achieve this

• Licensing chains across platforms

If your content’s rights metadata isn’t clean and dynamic, your FAST strategy won’t scale.

Content Operations Engine

This is the part most overlook. Delivering to FAST isn’t about file transfer and putting it into a schedule. It’s about:

• Cue-point accuracy

• Dynamic ad break insertion

• Time-zone aware scheduling

• Platform-specific playout logic

• Localised compliance

FAST is not “fire and forget.” It’s more operations-intensive than you think and increasingly platform-governed.

Platform Fit + Ad Strategy

FAST platforms aren’t ad networks, although some try. Mostly they hold inventory and your content has to earn its place:

• Is your channel aligned with viewers intent?

• Does it match the platforms’ vertical focus?

• Can it deliver consistent ad breaks with high completion rates?

Without platform fit, monetisation will not scale. You will just stream.

Cross-Format Monetisation

This is where real value is captured. Performance should feed insights back into:

• Windowing strategy across AVOD and SVOD

• Licensing bundles

• Branded content deals

• UGC ecosystems such as YouTube, TikTok, Snap and Meta.

At CINDIE, we aim to treat every platform as a signal, although data uniformity is difficult to get from platforms (share your data CTVs:  it helps all of us!), so that every stream is a learning input. FAST gives you visibility; it doesn’t replace revenue engines.

What we have learned in LATAM

In scaling CINDIE across Latin America that we will bring into the US Hispanic market, we’ve observed:

• Curation beats catalogue dumps: A lean, high-affinity lineup often outperforms generic feeds.

• Platform-by-platform marketing and positioning matters: what works on Samsung TV+ won’t necessarily land on VIDAA, Whale, TCL, Pluto, Tubi, or Roku.

• Localisation isn’t translation: it is programming with cultural intuition.

3 Questions before backing a FAST play

1 | Is there a rights monetisation stack behind the content?

FAST with no secondary licensing is a short-lived game.

2 | How does FAST support, not cannibalise, other revenue streams?

If it’s not driving value to SVOD, AVOD, or licensing, it may be a cost centre.

3 | Is the ops team FAST-native or retrofitted from linear?

If you are not thinking in playout logic, ad pod sequencing, device-specific UX ad how FAST, AVOD and SVOD work together… walk.

My takeaway…

FAST can be powerful one when part of a broader, rights-first, format-fluid monetisation model. At CINDIE, we’re building FAST into a global streaming architecture that treats rights like levers, not leftovers, unlocking value territory by territory and window by window.