The Technology Headlines DEMAND FORCASTING & AI | Page 40

THE TECHNOLOGY HEADLINES
ECH
ALK
‘FAST FICTION’ LEVERAGES BLOCKCHAIN TO DISRUP
STREAMING MEDIA INDUSTRY
By Jason Bloomberg, President, Intellyx
“
Because compensation is agreed
upon upfront, everyone involved
in the production is paid in a fair,
JASON BLOOMBERG
PRESIDENT, INTELLYX
T
o understand the true power of disruption that
streaming media leaders like Netflix have brought
to their respective markets, you need to follow the
money.
While Netflix produces some of its own content, it licenses
the vast majority of what its customers see – and it uses
its influence in the marketplace to get access to content at
bargain basement rates.
One way content producers are attempting an end-run
around Netflix is via a new content form factor: ‘fast
fiction,’ consisting of high quality short videos streamed to
smartphones and other devices.
How Fast Fiction Will Disrupt Netflix
While Netflix customers can certainly view its content on
their phones, the fast fiction category focuses on content
that producers create specifically for handheld devices, in
AUGUST 2019
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consistent and timely manner
some cases integrating with interactive features specific to
the device.
Given its greenfield status, the fast fiction market is an ideal
place to disrupt how content producers are paid, according
to fast fiction startup Fiction Riot.
Fiction Riot’s vision: build a subscription-based fast fiction
platform that fairly compensates the producers of all content
on the platform, from the big-name pros to the individual
crew members at shoestring startups.
Fiction Riot is the brainchild of former United Talent Agency
agent Mike Esola, whose discouraging experiences as an
agent led him to formulate the idea behind Fiction Riot. “Our
motivation at Fiction Riot is the disintegration of revenue
share royalties,” he explained.
The problem: concentration of wealth at the top. “The top tier
is making more money than ever, but no one else is making
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