Monetizing Sports on FAST: A Q&A With Free Live Sports' Cathy Rasenberger and Amagi's Srinivasan KA
Live sports streaming is increasingly where the action is in the streaming and CTV ecosystem, from eye-popping licensing deals to headline-grabbing DTC apps to the rise of niche sports offerings on FAST to adtech innovations bringing new levels of dynamism and personalization to sports fans around the world.
Free Live Sports has emerged as a major player on the burgeoning FAST sports scene, with more than 125 live sports channels and a vast library of sports-related VOD content available in 71 countries across the globe. Free Live Sports appeared in a major announcement last week when news broke that cloud-based technology solutions provider Amagi—whose technology powers FAST channel monetization throughout much of the free streaming ecosystem—will become the exclusive monetization partner for its entire FAST ad inventory.
Free Live Sports inventory will now be available exclusively via the Amagi ADS PLUS CTV marketplace. The partnership gives Free Live Sports access to ADS PLUS’ real-time connection global ad buyers as well as the AI-powered yield management capabilities ADS PLUS offers.
To gain additional insight into how the partnership will benefit each side and what it might tell us about the current and future direction of sports on FAST and technological and strategic aspects of its monetization, for this Q&A, we spoke with Free Live Sports Co-Founder/Co-President Cathy Rasenberger and Amagi President – Global Business Srinivasan KA.
Free Live Sports’ Cathy Rasenberger (left), Amagi’s Srini KA (right)
Do you think this signals that there is a broader trend afoot toward making the consolidation of monetization platforms a new standard for FAST, especially for sports content where premium inventory is limited and in high demand?
Yes, from a direct sales perspective, consolidation is emerging as a clear trend. But monetization in FAST is multi-faceted, requiring the right balance between direct and programmatic channels. A unified direct sales team can create stronger, more consistent relationships with buyers, while a robust programmatic ad stack that is continuously managed, optimized, and yield-focused ensures scalability and efficiency. Together, this hybrid approach positions platforms to maximize premium sports inventory, where demand is high and supply is limited.
Can you explain a bit about the AI-powered yield management described in the release – how it works, how it improves ad revenue performance, and if you have any preliminary data on how it has worked for Free Live Sports so far?
We don’t yet have preliminary data for Free Live Sports, but our AI-powered yield management has already shown strong results for publishers, both those using our SSAI layer and those who aren’t. Publishers leveraging the full Amagi stack have reported up to a 30% lift in fill rates and yield.
The system prioritizes top bidders, adapts pricing in real time to market conditions, and routes traffic to the most effective demand partners. By streamlining ad tiers, aligning pricing with demand, and dynamically managing traffic, the AI reduces inefficiencies, improves ad performance, and maximizes revenue. This establishes a strong foundation for similar success with Free Live Sports.
You mention that Free Live Sports is now available in 71 countries. How does Amagi ADS PLUS handle localization and regional ad targeting in all of those different regions to maximize value for global advertisers on the Free Live Sports service?
By providing robust impression-level transparency and sophisticated inventory packaging, global advertisers can easily partner with Amagi to target their desired geographic markets with relevant messages.
The progression toward in-content ad formats, squeeze-backs and the like seems especially important for live sports content. Do you think these innovations in DAI and SGAI will reshape the balance toward maximizing ad revenue and affirming live sports streaming as a viewer-first experience?
The ability to deliver in-content ad formats via dynamic ad insertion has the ability to create a true win-win for consumers and streamers. Consumers can increasingly access free live sports content with fewer disruptions. This is especially beneficial for sports with fewer opportunities for traditional commercial breaks. Platforms are better positioned to maximize value for advertisers by delivering impression-level addressability and accountability for these ad formats.
Can you explain a bit how these new in-content ad formats are inserted into live feeds? Overlays? Stream-level insertions?
Yes, our In-Content Ad formats are inserted dynamically at the stream level. Ad opportunities are sent to advertisers as the opportunity for an in-content ad insertion arises. Our server-side ad insertion platform retrieves the creative and stitches it over the content in seconds, before the stream is sent to the viewer.
With CPMs and fill rates remaining a challenge for FAST overall, do you think exclusive, high-quality live sports inventory is emerging as FAST's best hope for improving CPMs as the FAST ad supply overall continues to grow?
Live sports is one of the most compelling ways for FAST platforms to demand higher CPMs. It offers real-time, must-watch moments that draw highly attentive audiences advertisers rarely find elsewhere, and for that reason, advertisers are willing to pay a premium for it.
However, sports alone will not solve the CPM challenge. At Amagi, we see sustainable monetization coming from a combination of premium content and smarter ad infrastructure. Advertisers increasingly expect better targeting, measurement, and accountability. By coupling content like live sports with dynamic ad insertion, audience segmentation, and programmatic tools, FAST platforms can further differentiate their inventory and enhance value for advertisers.. Live sports will continue to draw high fill rates and CPMs but all content can benefit from the integration of premium inventory with innovative, data-driven ad innovation.
Given the volatility of live sports audiences--especially younger ones--how do you see AI-driven yield optimization evolving to address those issues, and do you see any new models of dynamic pricing emerging for FAST?
Live sports audiences, particularly younger viewers, are highly dynamic, often tuning in and out quickly. That volatility makes it difficult to rely on traditional, static ad models.
AI and machine learning are changing that by allowing platforms to respond in real time. Rather than focusing on “dynamic pricing,” the real opportunity is in adaptive yield optimization: shaping ad breaks on the fly, selecting the right creative, and ensuring ads blend naturally into the live stream.
For FAST, this means smarter decisioning that maximizes every impression despite unpredictable viewing patterns, delivering stronger outcomes for advertisers while keeping the viewing experience seamless.
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