LOS ANGELES--(BUSINESS WIRE)--Fiction Riot, a pioneer in the production and streaming of user-engaged video through its platform, Ficto, today announced the launch of its Curated Submission Platform (CSP) to encourage filmmakers around the world to submit their premium video content for a chance to be added to its library of fast fiction series. Through the CSP, Fiction Riot is vastly expanding its content pipeline and attracting high quality series to keep up with users’ insatiable appetite for high-production value, engaging and addictive content. In tandem, the company is promoting its “Million for Million” initiative, offering $1 million US dollars to the first content creator whose episode garners 1 million unique views. Moreover, with Ficto’s industry-first streaming revenue-share model assured by blockchain-based smart contracts, all creators - even those who don’t receive a million views - will still be paid meaningful, ongoing royalties based on viewership.
With its CSP, Fiction Riot is gathering premium content from artists all over the world. Through a decentralized staff and automated process, Fiction Riot has begun curating hundreds of films, television shows and shorts into new Ficto series. If an artist’s content is accepted, Fiction Riot provides software for the artist to reformat for mobile in order to be in line with Fiction Riot’s serialized Fast Fiction. Each episode will run approximately 8-12 minutes in length with an average of 3-5 episodes per series, and include a highly engaged mobile user experience by incorporating such features as vertical video, 360 viewing, AR, chat, instant surveys and live streaming. Once formatted, the serialized content is published and eligible for recurring, verifiable revenue share at Ficto’s launch.
“The biggest issue users share about their streaming platforms is exhausting all the best content. Our Curated Submission Platform enables us to selectively add premium content via a scalable, controlled process, bolstering our already substantial pipeline with even more high quality, immersive series,” said Fiction Riot CEO and Co-founder Mike Esola. “The Sundance Film Festival broke a record this year when they received over 14,000 submissions; yet they only accepted 112 films. It’s not unreasonable to suggest that dozens of those films could be formatted for our platform, to instantly connect with and delight audiences. With our innovative program and tools, we help the artists’ content look beautiful on mobile and, most importantly, we make them money right away.”
The process for artists and influencers to propose their content is simple. Creators first submit their series in its original run-time and format via the CSP for Ficto’s review. If the content is accepted, the artist is provided login credentials to a proprietary, cloud-based production toolkit which they use to serialize, verticalize, and dynamize their content to match Ficto’s display and engagement formatting. In some cases, Fiction Riot’s in-house team will also work in conjunction with the creator to crop and serialize the original work.
Furthermore, all artists will be paid in fiat currency (which includes USD) supported by blockchain, creating transparent and secure compensation on par with industry rates. Through the use of smart contracts, Ficto automatically pays royalties directly to artists based on how often their content is viewed. Furthermore, the formula is verifiable and transparent, meaning everyone involved in a production is paid in a fair, consistent and timely manner.
“Because our CSP is underpinned by blockchain, Fiction Riot is calling on artists across the globe, giving them the opportunity to leap frog over distribution windowing, earn meaningful compensation dictated by true merit-based performance and get rid of today’s highly flawed black box algorithm that the streaming industry-at-large has popularized,” explained Esola. “Through blockchain’s straightforward process around unique views and compensation, content creators can not only make more money but develop a better understanding with audience reception.”
Ficto will be available to consumers in summer 2019. In the meantime, Fiction Riot’s CSP is available to content creators, while the company also continues to finance and produce its original series which will also premiere at launch.
About Fiction Riot
Based in Los Angeles, Fiction Riot is a technology and content startup. Through its subscription platform Ficto, it employs award-winning engineers, A-List Hollywood artists and household-named talent, to deliver a new, user-engaged streaming video format designed specifically for mobile. For content creators, Ficto is an intuitive platform with built-in tools that enables them to focus on creating great stories that deliver a one-of-a-kind mobile viewing experience. Fiction Riot was founded and is led by entertainment industry veterans with a vision to deliver mobile video content that is premium, convenient, engaging and addictively fun. For more, visit: www.fictionriot.com.