The Rise of FAST – Can We Keep Up?

LOS ANGELES, September 24, 2024 – This past Monday, the Writers Guild Foundation hosted a panel discussion on the state of FAST (free ad-supported television) and AVOD (ad-based video on demand) writers.

Panelists included seasoned professionals such as Michael Fisk, Founding Partner of Pangram Entertainment, Mark Jocson – Primetime Emmy Award winner and Sales Executive at MotorTrend, and Chase Logan, Vice President of Production at Ilyuno Media Group.

The event began with an overview of FAST and AVODs, with additional discussion on the evolving streaming transition from subscription-based services like Netflix to FAST. For those of the uninitiated, FAST channels are played in a “linear format with a guide, similar to cable or satellite layout and guide.” Forbes.

One of the first adopters of FAST is Plex. Plex reported an internal data analysis that FAST content increased from 6% to 30% from 2020 to 2022 and continues to rise.

The main benefit for consumers is that FAST channels combine the convenience of traditional, pre-scheduled TV programming with the streaming landscape. These channels use existing content libraries and create programs on channel-specific topics (example: channels exclusively with TED talks).

According to this model, viewers have no choice in programming. But you don’t have to pay a monthly subscription or a TV bill. FAST channels generate their revenue through advertising spend, so FAST content is free for viewers.

The conclusion is: FAST Channels gained popularity as an alternative for users tired of paying multiple monthly subscriptions.

Much of the talk focused on where authors can make money in this changing environment of both demand and advertising interest.

Given the changes in the monetary landscape, the panelists wanted to focus our attention on the “new frontier” of FAST channels to showcase our stories and make money. Television networks and broadcasters make a large portion of their money, often through advertising spending, and FAST advertising spending is constantly increasing. Keyword: Continuous growth.

On the other hand, streaming services tend to struggle because the majority hate ads. According to an article from Ad Exchange, “around 78% (!) of streaming subscribers in the US believe they should never see ads when paying for a service.” Because of this, programmers need to get more creative to make money.

ALMOST growing. How might authors benefit from this?

Like any other model, there are advantages and disadvantages to the FAST strategy.

The panelists explained that due to the growth in this sector, it may be worth switching from streaming to FAST channels. However, they also mentioned the difficulty of exploring FAST’s Wild West.

Currently, the only way to target FAST providers is to achieve very low risk and low reward. The content must fit the brand and vision of the company. Additionally, there is no centralized market for pitching. Platforms may ask for specific content to fill the gaps in their programming (ex: October means Halloween content), but otherwise it’s up to the user to search through thousands of channels.

The panelists mentioned that there are marketing middlemen who will do the research for you. However, they usually accept an advertising split based on the deal made with the broadcaster. The good news is that while the advertising split (where the money lies) is split between multiple parties, the original content rights remain with the creator.

Additionally, in some cases, platforms (not studios) offer co-production deals to put content on their platform. To address these issues, panelists recommended keeping an eye on the months for seasonal program presentations and analyzing which platforms are missing (or what gaps exist in their current programming).

During the question and answer portion of the panel, one question stood out: Why would writers switch to FAST channels when there seems to be a lot of work for little pay – why not go back to broadcasting instead?

Mark Jocson took the lead in answering this question, noting that broadcast is dying and players are changing, FAST is the future.

In an anecdote, Jocson recalled a memory while producing Suite Life on Deck with the Sprouse twins. At the time, the Internet was in its infancy and her current project was to be published on the Disney website. The twins asked Jocson how they could make money using something as new as the Internet.

Similar to that memory, Jocson drew parallels to the current FAST landscape. While FAST, much like the Internet, was the Wild West, over time it is becoming regulated and standardized. FAST is the future, it’s about where the interest is, where the audience leans and ultimately where the money will be.

Another question from a viewer was about the current state of demand for vertical content and whether writers should invest time in creating professional-level stories.

Once again, Jocson took the lead to answer the question. Jocson expressed that while it is true that platforms like TikTok and YouTube Shorts dominate the conversation, they are not the be-all and end-all. While he did not reject short-form as a whole, he explained that they are the means by which the 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 content performs worse due to high quality.

Panels like this, steeped in industry jargon, are often difficult to analyze. However, for those pursuing writing in the entertainment industry, these conversations are crucial. No matter how much you like writing, you also have to make a living.

While FAST channels represent the new frontier with little regulation, it is important to recognize where the industry is heading.

Keep an eye on FAST or you may be left in the dust.