Magnite’s Ryan Kenney On Why FAST Feels More Like “TV” Again.

Key Takeaways

• Fill rates improving but still below linear TV
• Contextual targeting gaining scale via genre-level data
• Non-endemic brands expanding on home-screen inventory
• VOD commands higher CPMs than linear FAST
• Advertisers balance reach with brand safety on creator content

Summary

Magnite senior VP Ryan Kenney says FAST is stabilizing but still faces performance gaps, especially around fill rates and transparency. Advertisers are shifting to contextual signals and first‑party data for inventory insight, moving away from traditional show‑level reporting. VOD inventory commands higher CPMs, while linear FAST remains a key vehicle for broad incremental reach among younger audiences. Non‑endemic brands are increasingly buying home‑screen slots, expanding FAST beyond media‑only content.

Pulse Analysis

Free‑ad‑supported streaming (FAST) has moved from a niche experiment to a mainstream distribution channel, now accounting for a sizable share of digital video impressions. Industry analysts estimate that FAST inventory will exceed 300 million daily active users by 2025, driven by platform investments from broadcasters, OEMs, and independent services. Ryan Kenney of Magnite notes that this growth is reshaping the perception of television, with advertisers treating FAST lineups more like traditional linear channels than isolated video pods. The shift is prompting media buyers to allocate budget toward “total TV” reach that includes FAST alongside SVOD and social video.

Despite the momentum, the ecosystem still wrestles with core performance metrics. Fill rates, while stabilizing, remain lower than legacy linear TV, creating inventory gaps for smaller publishers. Transparency is evolving; advertisers now rely on contextual signals, OEM first‑party data, and ACR metrics instead of classic show‑level reporting. Kenney emphasizes that contextual targeting—particularly genre‑level taxonomies—offers the most scalable solution, yet it demands extensive education and custom infrastructure. The operational overhead of integrating these signals into programmatic workflows continues to slow broader adoption, especially for granular emotional or behavioral taxonomies.

The commercial upside is evident as non‑endemic brands flood FAST home‑screen slots, from fintech to food‑delivery services, leveraging programmatic DSP integrations for precise audience slices. VOD inventory commands premium CPMs, reflecting its perceived higher quality, while linear FAST remains the workhorse for incremental reach among younger viewers. As measurement standards improve and brand‑safety tools mature, advertisers can confidently experiment with creator‑driven content without sacrificing control. Kenney predicts that continued standardization of contextual data and clearer labeling of live versus shoulder programming will cement FAST’s role as a true TV equivalent in the advertising mix.