Plex is starting to see a return on its investment in free ad-supported streaming channels.
The company, which started as a software company providing video server apps, in 2019 started adding free ad-supported channels. The company said the number of viewers to those channels has risen by 54% in the first half of this year over the same period in 2022. The number of minutes watched has increased by 135%, with 1.5 billion minutes watched, compared with 600 million minutes watched a year ago.
The growth falls in line with the increasing number of consumers tuning into these so-called FAST platforms, which offer huge libraries of content with ad breaks. With the number of subscription services increasing — as well as the monthly rates — consumers see these services, which include Pluto TV, Tubi and Roku Channel, as alternatives that are easier on their budgets.
The number of streaming channels and content has exploded, which leaves some viewers overwhelmed. Plex said it has increased the number of channels available globally by 64%.
Plex noted that on its platform, interest in the ION channel has shot to the top, despite having no presence a year ago. The Hallmark Movies & More channel stands at No. 2. Other top 10 channels include Top Gear, PBS Antique Roadshow, COPS, ION Mystery+ and Modern Marvels by History.