LOS ANGELES, Sept. 24, 2024 — This past Monday, the Writers Guild Foundation hosted a panel discussing the state of writers in the FAST (free ad-supported television) and AVOD (advertising-based video on demand) space.
Panelists included seasoned professionals such as Michael Fisk, founding partner of Pangram Entertainment, Mark Jocson – Primetime Emmy award winner and head of distribution at MotorTrend and Chase Logan, vice president of production at Ilyuno Media Group.
The event started with an overview of FAST and AVODs, with additional discussion on the evolution of streaming switching from subscription-based services like Netflix to FAST. For those of the uninitiated, FAST channels are played on a “linear format with a guide, similar to cable’s or satellite layout and guide” according to Forbes.
The rise of FAST and consumer appeal
One of the earliest adopters of FAST is Plex. Plex reported internal data analytics that FAST content rose from 6% to 30% from 2020 to 2022 and continues to climb.
The main appeal to consumers is that FAST channels combine the comfort of traditional pre-planned TV programming within the streaming landscape. These channels take advantage of existing content libraries and craft programming to channel specific topics (EX: Channels entirely of TED talks).
According to this model, viewers do not have a choice in the programming. But they do not have to pay a monthly subscription or TV bill. FAST channels gain their revenue through ad spending, so FAST content is free for viewers.
The bottom line is that FAST channels grew in popularity as an alternative to users who grew tired of paying multiple monthly subscriptions.
Why should we care?
A majority of the talk was directed at where writers could make money within this shifting space of both demand and ad interest.
With shifts in the monetary landscape, the panelists wanted to direct our gaze towards the “new frontier” of FAST channels to pitch our stories and make money. TV channels and broadcasts gain a great deal of their money, often through ad-spend and FAST ad-spend keeps growing. Keyword: growing consistently.
On the other hand, streaming services tend to struggle since the majority hate ads. According to an article by Ad Exchange, “Roughly 78% (!) of US streaming subscribers believe they should never have to see ads if they pay for a service”. As a result of this, programmers need to get more creative to earn money.
FAST is growing, so how could writers take advantage of it?
Some benefits, but more drawbacks
Just like any other model, there are positives and negatives when it comes to the FAST strategy.
Panelists explained that it may be worth jumping ship from streaming to FAST channels due to growth in that sector. However, they also mentioned the difficulty that comes with exploring the Wild West of FAST.
As it stands, the only way to pitch to FAST providers is very low risk, low reward. Content needs to match the company brand and visions. Additionally, there is no centralized market for pitching. Platforms may ask for specific content to fill in the holes of their programming (EX: October means Halloween content), but otherwise, it’s down to the user to search through thousands of channels.
Panelists did mention that there are marketing middlemen who will do the searching for you. However, they generally take an ad-split on the deal made with the channel. The good news is that while ad-split (where the money is) gets divvied up between multiple parties, the original content rights remain with the creator.
Additionally, in some cases, platforms (not studios) will offer co-production deals to put content on their platform. To combat these issues, panelists recommended keeping an eye on the months for seasonal programming pitches and analyzing what platforms are missing (or the gaps in their current programming).
Important industry questions
During the Q&A section of the panel, one question stood out: Why should writers switch to pitching to FAST channels when there is seemingly a great deal of work for little reward– why not instead go back to broadcast?
Mark Jocson took the lead on answering this question, noting that broadcast is dying and the players are changing, FAST is the future.
In one anecdote, Jocson recalled a memory when producing “Suite Life on Deck” with the Sprouse twins. At the time, the internet was in its infancy and their current project was to be put on Disney’s website. The twins asked Jocson how they were going to earn money on something as new as the internet.
Similar to that memory, Jocson drew parallels to the current landscape of FAST. While FAST was the Wild West, much like the internet, with time it will become regulated and standardized. FAST is the future, it’s where the interest is, where the audience is leaning and ultimately where the money will be.
Another question asked by an audience member was about the current state of demand for vertical content and whether writers should invest time into creating professional-level stories.
Once again, Jocson took the lead to answer the question. Jocson expressed that it was true that platforms like TikTok and YouTube Shorts were dominating entertainment, but they were not the end-all-be-all. While he did not brush off short-form as a whole, he explained that they were the vehicles to redirect traffic to mainstream content. Jocson would use TikTok to launch an advertising campaign, but not as a platform to create legitimate professional-level content.
Panelists also mentioned that professional-level content under-performs due to the high quality.
What does this mean for us…follow the money!
Panels like these, soaked in industry jargon, are oftentimes hard to dissect. However, for those heading into the writing space within the entertainment industry, these conversations are crucial. No matter how much one may like writing, they also must earn a living.
Even if FAST channels are the new frontier with little regulation, it’s important to acknowledge where the industry is heading.
Keep an eye on FAST, or you may be left in the dust.
