Navigating the FAST Landscape: A Strategic Approach to Success
The first ever FASTMaster guest column!
The rise of free ad-supported streaming TV (FAST) has revolutionized the television industry, blending traditional viewing habits with the convenience of digital platforms and streaming apps. As a newcomer in this burgeoning field with a modest content library, I've gleaned invaluable insights into the strategies that can propel success in this dynamic arena.
Tapping into the potential of FAST requires careful navigation, underscored by thorough research to sidestep potential pitfalls. Aggregators, often perceived as "FAST maestros," can hasten content monetization. However, this path necessitates a discerning eye for equitable revenue-sharing agreements. Conversely, direct engagement with advertising video on demand (AVOD) platforms has proven to be a more favorable strategy despite its inherent challenges with a limited content repertoire.
Building relationships with key stakeholders such as Heads of Acquisitions, leveraging industry networks, and harnessing tools like LinkedIn have played pivotal roles in my journey. The ability to establish rapport, highlight the unique appeal of my content, and follow up concisely were crucial in clinching partnerships.
A critical insight surfaced amid these interactions - many platforms expressed interest in the content I was pitching exclusively on an AVOD basis. With a film library devoid of brand recognition, established streaming platforms passed on the channel. Emerging platforms showed enthusiasm but offered limited monetization potential. In contrast, single IP channels, like game shows and reality programs, enjoy considerable success thanks to their easy consumption and relaxed viewer experience. Despite these challenges, I ensured that FAST remained a licensing right in the agreements, empowering streaming platforms to place the content on existing live FAST channels on their platform. Although curation methods differ across platforms, most aim to maximize content exposure for enhanced monetization and revenue growth.
For those contemplating a FAST channel, I recommend a soft launch or conceptual testing with channel operators such as OTTera, Amagi, Wurl, and Frequency. Garnering feedback from AVOD platforms or industry experts, such as FASTMaster, can offer invaluable insights into market interest and strategic refinement.
In this journey, patience has proven to be a steady companion. As revenue expectations loomed, I delved deeper into the nuances of FAST/AVOD monetization through market panels, festival discussions, and trend analysis. Eventually, deals materialized, and the landscape became less daunting.
The road to success in the FAST/AVOD space requires strategic acumen, meticulous research, direct networking, and adaptability to ever-changing market trends. To those embarking on this journey, I wish you every success!
Key Takeaways:
Strategic Approach: Venturing into the FAST space requires a comprehensive strategy, including direct engagement with AVOD platforms, relationship building with key stakeholders, and persistent follow-ups.
Content Placement: Despite the lack of brand recognition, ensuring FAST remains a licensing right in agreements allows for content placement on existing live FAST channels, maximizing content exposure and potential revenue.
Patience is Key: The FAST/AVOD space demands patience and continuous learning. Revenue may take time, but with thorough research and adaptation to evolving trends, success is achievable.
Melissa Bidgoli is a distribution executive and has become a specialist in free-ad supported television (FAST). She has also assistant directed many films and TV series and is an alumni at the University of California, Los Angeles (UCLA).