I recently had the opportunity to sit down with Larry Fitzgibbon and discuss the FAST market with him. Given Tastemade’s ongoing success (winning a daytime Emmy, the new partnership with Amazon Studios), Larry brings a great perspective to how to succeed in FAST and the overall state of the business.
For those wanting a deeper overview, thanks to the power of Riverside.FM’s AI summarizer, see below!
Summary: Larry Fitzgibbon, founder of Tastemade, discusses the growth and success of the company in the FAST (free ad-supported streaming television) ecosystem. He highlights the importance of creating content that aligns with audience interests and the major trends in media, such as social, mobile, and video.
Larry also addresses the challenges and opportunities in advertising within FAST, including the perception of FAST as a dumping ground for old content. He emphasizes the need for high-quality originals and the role they play in shifting advertiser and viewer perceptions.
Additionally, Larry discusses Tastemade's partnership with Amazon Studios and the future of content creation in the streaming market. The conversation explores the need to adapt content to fit the new FAST ecosystem while maintaining compelling storytelling and visuals.
The growth of documentary and lifestyle content in AVOD & FAST is highlighted, with the platform being better able to serve audiences in these genres compared to traditional TV. The lower operating costs of FAST allow for more choice and niche channels. The conversation also addresses the struggles of the traditional entertainment industry with FAST and the potential for new opportunities. The future of streaming and the role of AI in personalized recommendations are discussed, along with the promise of FAST for the TV industry.
Takeaways
Creating content that aligns with audience interests is crucial for success in the FAST ecosystem.
The major trends in media, such as social, mobile, and video, have shaped the growth of the FAST market.
Challenges in advertising within the FAST ecosystem include the perception of fast as a dumping ground for old content.
High-quality originals play a significant role in shifting advertiser and viewer perceptions in the FAST ecosystem.
Partnerships with major platforms like Amazon Studios provide opportunities for content creators in the fast market. FAST requires content creators to adapt their content to fit the new ecosystem while maintaining compelling storytelling and visuals.
FAST has seen significant growth in documentary and lifestyle content, with the platform better able to serve audiences in these genres compared to traditional TV.
The lower operating costs of FAST allow for more choice and niche channels, providing opportunities for independent content creators.
The traditional entertainment industry has struggled with the concept of FAST due to the lower operating costs and the shift towards streaming.
The future of streaming will see a broader range of channels and improved personalized recommendations through AI.
FAST opens up TV for more creation and celebrates passion and love in various content categories.
FAST Friends Podcast #4: Larry Fitzgibbon Goes Deep on Tastemade's FAST Success