August 2025 — Amagi Global FAST Report highlights one of the most pivotal shifts in streaming: the surge of live programming as a cornerstone of growth in Free Ad-Supported Streaming TV (FAST). With audiences migrating away from traditional cable and broadcast, live sports, events, and real-time programming are proving to be the last great battleground for streaming platforms.

Linear Decline, Streaming Ascendance

Traditional linear TV viewership continues to shrink, while streaming solidifies its lead.

Platform	Share of Viewership (May 2025)
Streaming	44.8%
Cable	24.1%
Broadcast	20.1%

Yet, live programming remains cable’s lifeline. Of the top 100 U.S. programs in 2024, 81 were live sports, 16 were political events, and 3 were major cultural live broadcasts (Oscars, Grammys, Thanksgiving Parade).

The Live Sports Effect on FAST

Live sports are not only migrating but thriving on FAST. Cathy Rasenberger, Co-founder of Sports Studio, Inc., draws a direct parallel:

“Live sports on FAST today are driving growth much like ESPN did for cable in its early days.”

Key Data:

Sports dominate FAST live programming (Q1 2025):
- Sports: 84%
- Talk shows: 14%
- Others: 2%
Number of Sports FAST channels doubled in 8 months (from 107 to 220).
69% of U.S. sports fans watch some games on streaming (on par with cable & broadcast).
Among fans under 34, 48% consider streaming their home base for sports.

This surge also fuels advertising:

Higher CPMs and fill rates for live sports inventory.
Attraction of new sponsorship dollars and direct ad buys.
FAST currently accounts for 20% of U.S. media viewership but just 8% of ad spend—live sports are poised to close this gap.

Roku’s Strategy: Aggregation and Accessibility

Joe Franzetta, Head of Sports at Roku Media, reinforced the belief that “all TV will be streamed, and all sports will be streamed.”

Roku entered live sports in 2023 with Formula E rights and expanded into MLB, NBA G League, and NFL’s Munich Game.
Roku Sports Channel now centralizes live events—major leagues, emerging sports, and ancillary content (clips, highlights, trivia).
Roku leverages its reach—present in over half of U.S. broadband households—to position itself as the go-to sports destination.

Consumer Insights: Amagi’s 2025 Survey

Amagi surveyed 500+ U.S. households across income groups to understand live-event viewing behaviors.

Viewing Frequency

Frequency	% of Households
Daily	35%
Weekly	35%
Monthly	24%
Rarely	16%

Platforms for Live Events

Platform	% of Households
Streaming (free or paid)	67%
Cable/Pay TV	39%
Traditional Broadcast	32%
Social Media	26%

Impact on Subscriptions

47% would sign up for a paid trial if offered a free live event.
41% said live event options dictate subscriptions “a lot”; another 41% said “a little.”

Content Discovery

Discovery Experience	% of Households
Live events clearly shown	39%
Streaming = on-demand only	26%
Found via ads/social media	19%
Unaware services had live	16%

Influential Live Event Types

Event Type	% of Households
Major Sports Leagues (NBA, Premier League)	56%
Concerts	46%
News	24%
Awards Shows	17%
Minor Sports (Olympics, HS, niche)	45%
Talk Shows	27%

Cable vs Streaming Quality

62% said streaming quality matches or surpasses cable.
38% still prefer cable for reliability (buffer-free).

Conclusion: The Next Growth Engine

Amagi’s latest report makes clear that live programming is FAST’s killer app. Just as scripted content drove streaming’s first phase, live sports and events will define its future.

For content providers and advertisers, the implication is stark:

Invest in live rights and production.
Use live events to attract first-time users and build habits.
Leverage the ad dollar shift from cable to streaming.

FAST platforms that master live will not only capture audiences but also command the premium advertising that follows.

The Power of Live Programming in FAST