(Continued From Cover) 20 ing all kind of programs: movies, animation, documentaries, old TV series, etc.), which, instead of collecting dust on shelves, will be used for FAST channels and be monetized (and, perhaps, some of those shows will be “discovered” as gems by content buyers who will then acquire them as stand-alones for their TV outlets). Once the libraries are depleted (after all the shows end up on FAST channels), the IP owners will start trading among themselves for their own FAST channels, which will increase the way libraries can be monetized. Since most FAST channels depend on a revenue-sharing financial model, the only problem for old libraries is the cost of digitalization, which could be done on a barter basis — non-exclusive FAST distribution rights in exchange for digitalization. Christian Morsanutto, chief revenue officer for the Canadian FAST technology service company Nextologies, commented from his Dubai base: “There will be some sort of content swap among channels. You can already see this happening among platforms where you see cross-pollination of content with Hulu, Paramount+, Disney, and so on. Only a few well-funded channels will be able to afford costly new productions and therefore remain relevant with the audience and possibly grow at a faster pace compared to the competition. The next question is how long will this plethora of FAST channels survive? Even the bottomless advertising money cauldron will reach a point where there will be no more money available for the FAST channels at the bottom of the ratings. Although the cost of launching FAST channels is now a fraction of what it used to be, the time when you will see channels shutting down is near.” Jonathon Barbato, co-founder and co-CEO of Los Angeles-based FAST service provider Best Ever Channel, has a more positive vision: “What we’re doing to prevent that problem [of library depletion] is producing new, lowcost content to supplement what we acquire in the libraries. This gives us greater longevity, makes the content more current, relevant, and sets us up as a brand to produce more expensive content when the eco-system can support it later.” He continued: “For example, WITZ, our comedy channel, shoots live stand-up and comedy format shows at The Stand in New York City (our partner in the channel). SPIN, our music magazine partner, produces original video with their cover story subjects every month. The FAST wellness channel COMMUNE takes masterclasses and programming produced to sell online and repurposes it for television audiences. What will the I Love Lucy channel do? No idea, but then, who knew that audiences would still be watching the show’s reruns for the 100th time decades later.” Barbato added, “I also think someone (sooner than later) will come up with an A.I. version of the Electronic Programming Guide that will search the hundreds of thousands of titles out there and where they are available to uber-customize a personalized viewing experience for consumers in streaming and otherwise. So the libraries are the way to find what sticks with audiences and build a brand. Then, it’s the new content that will be the solution, and more affordable new content (via format or A.I.), and then, eventually with bigger budgets as the ecosystem can afford it. And, if you look at TV history, there’s precedent. Look at Turner. It started with buying and exploiting the MGM Library and then eventually evolved into off-network and original content (as the ecosystem expanded to support it). Most of my ‘vision’ comes from looking backwards and watching history repeat itself,” Barbato concluded. From the point of view of content providers and channel owners, Daniel Gagliardi, VP of Digital Distribution and Business Development at the New York City-based FilmRise, which streams over 500 FAST channel endpoints on third-party platforms, said: “We’re confident there’s still a large quantity of content yet to be surfaced. We’ve found success with titles dating back as far as the 1950s — many have become top titles in the market. There’s been a massive amount of content produced over the decades, and FilmRise has consistently been able to identify which of those titles will resonate with today’s viewers. In addition, we’ve had success bolstering our FAST channels with select new releases (both finished product and co-pros). This has infused new, never-before-seen content into our FAST channels, helping with refresh.” Mark Ashbridge, managing director at the Melbourne, Australia-based VAMedia, which this year is set to launch Movie Central FAST channel, commented: “It’s possibly too early to tell whether the growth of FAST will place pressure on global library/content supplies. While the U.S. is in full swing with FAST, the insights are that with the explosion of chan- “We will see much greater integration of linear and on-demand so that viewers can move seamlessly from one way of watching to the other.” — Alan Wolk, TVREV Christian Morsanutto, chief revenue officer, Nextologies Jonathon Barbato, co-founder and co-CEO, Best Ever Channel Daniel Gagliardi, VP of Digital Distribution and Business Development, FilmRise (Continued on Page 22) VIDEOAGE January 2025 FAST Future
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