Los Angeles, September 24, 2024 — Last Monday, the Writers Guild Foundation hosted a panel discussion to discuss the current state of writers in the FAST (free ad-supported television) and AVOD (ad-based video-on-demand) space. did.
Experienced panelists include Michael Fisk, Founding Partner of Pangram Entertainment, Mark Jocson, Primetime Emmy Award Winner and Head of Distribution at MotorTrend, and Chase Logan, VP of Production at Ilyuno Media Group. included experts.
The event began with an overview of FAST and AVOD and further discussed the evolution of streaming switching from subscription-based services like Netflix to FAST. For the uninitiated, FAST channels play in a “guided linear format, similar to cable or satellite layouts and guides,” according to Forbes.
One of the earliest companies to adopt FAST was Plex. Plex reported internal data analysis that FAST content increased from 6% to 30% from 2020 to 2022 and continues to grow.
The main appeal for consumers is that FAST channels combine the comfort of traditional pre-planned television programming within a streaming environment. These channels leverage existing content libraries and create programming to channel specific topics (e.g., a TED talk-only channel).
According to this model, viewers have no choice in programming. But you don’t have to pay a monthly subscription or TV fee. FAST Channel makes money through advertising spend, so FAST content is free to viewers.
In short, FAST channels have become popular as an alternative for users tired of paying multiple monthly subscriptions.
Much of the talk was devoted to where writers can make money in a space where both demand and advertising interest are changing.
With the changing financial landscape, our panelists wanted to turn our attention to the “new frontier” of FAST channels to pitch your stories and make money. Television channels and broadcasts often generate significant revenue through advertising spending, and advertising spending continues to increase rapidly. Keyword: Steady growth.
Streaming services, on the other hand, tend to struggle because the majority of people dislike ads. According to an article from Ad Exchange, “About 78% (!) of U.S. streaming subscribers believe they don’t need to see ads if they pay for a service.” As a result, programmers have to be more creative in order to make money.
FAST continues to grow, but how can writers take advantage of it?
As with any model, there are pros and cons regarding the FAST strategy.
Panelists explained that due to the growth in this sector, it may be worth switching from streaming to FAST channels. But they also mentioned the challenges associated with exploring FAST’s Wild West.
Right now, the only way to sell to FAST providers is very low risk, low reward. Your content should align with your company’s brand and vision. Furthermore, there is no centralized market for pitching. Platforms may request specific content to fill programming holes (e.g. October means Halloween content), but otherwise it’s up to the user to search through thousands of channels. is responsible.
The panelists said there are marketing intermediaries who will look for you. However, ad segmentation is typically based on a contract with the channel. The good news is that while the ad split (where the money is) is split between multiple parties, the rights to the original content remain with the creator.
Additionally, in some cases, platforms (and not studios) may offer co-production agreements to post content on the platform. To address these issues, panelists recommended focusing on the months in which seasonal programming is pitched and analyzing which platforms are lacking (or gaps in current programming).
In the Q&A section of the panel discussion, one question stood out. Why should writers switch to pitching to the FAST channel when there is so little pay and seemingly so much work to do? Why not go back to broadcasting instead?
Mark Jocson took the lead in answering this question, pointing out that broadcast is dying, players are changing, and FAST is the future.
In one anecdote, Jockson recalled working with the Sprouse twins on The Suite Life on Deck. At the time, the Internet was in its infancy, and their current project was scheduled to be posted on Disney’s website. The twins asked Jockson how to make money with something new like the Internet.
As well as that memory, Jockson drew parallels with FAST’s current situation. FAST, like the Internet, was the Wild West, but it will be regulated and standardized over time. FAST is the future, where the interest is, where the audience leans, and ultimately where the money is.
Another question from the audience was about the current state of demand for vertical content and whether writers should invest their time in crafting professional-level stories.
Once again, Jockson took the lead in answering questions. Jocson said that while it’s true that platforms like TikTok and YouTube Shorts are dominating entertainment, they’re not the be all and end all. He didn’t ignore short stories as a whole, but explained that short stories are a way to redirect traffic to mainstream content. Jocson uses TikTok to launch advertising campaigns, but not as a platform for creating legitimate, professional-level content.
Panelists also said that professional-level content performs poorly due to its higher quality.
Such panels are full of jargon and are often difficult to analyze. But for people who write in the entertainment industry, these conversations are incredibly important. No matter how much you love writing, you have to make a living.
Even though the FAST channel is a new frontier with little regulation, it’s important to be aware of where the industry is heading.
Be careful with FAST. Otherwise, it may be left in the garbage.