The future of entertainment is interactive, according to the creators of the Fireside app. Mark Cuban and Falon Fatemi say that more and more, audience members will want to be part of the live content they are watching, and Fireside helps content creators do just that. They can create a live audience Q&A, facilitate a discussion, and more, all with the click of a button in the app. Creators also have full control of how they distribute and monetize each piece of content they create. Fatemi, CEO & Co-Founder of Fireside, joins Cheddar to discuss the app's interactive content features, what users and creators can get out of the app, plans for NFT and other virtual products, and more. 

Closing Bell

Fireside Sparks the Future of Entertainment With Interactive Content, Creative Ownership

Welcome back to cheddar news Closing Bell is the future of Entertainment Interactive. Well, the founder of one app thinks so fireside co founded by investor Mark Cuban aims to put control back into the hands of creators, literally, I spoke with co founder and Ceo of Fallon fatty me about what sets the app apart from other social media platforms, what kind of content users can expect and more take a listen on fire side. We believe the future of media entertainment is totally created lead. So we have built the first participatory entertainment platform that enables the best professional creators and creative lead organizations to accelerate building those media empires in the future. So not only giving them an end to end suite that enables them to build the next level production company slash network where they can create, edit, distribute both video and audio shows, series of content, but we actually enabled them to create content in a way that allows their audiences and their communities to be a part of their creating process. Uh and um, this participatory entertainment format is actually unlocking whole new formats of entertainment. So for example, we have a new york times, bestselling author, ted speaker, master class teacher instructor Daniel Pink, who has a show called What's your problem? And the whole premise of the show is him in a rotating set of co host, uh allow the audience to come to the stage to share any problem that they have and they will workshop at life. So it's an example of a show format where the audience is the content that's genius and you know what it's one of the most popular shows on the platform. Um And it turns out what's so beautiful about, he's had a bunch of different comedians um FBI hostage negotiator chris voss as well as one of his co host. So it's a whole range of questions that are being answered by the audience, but it turns into a whole community experience what makes your platform so different from other social media sites, especially when it comes to content creation that you just talked about and creative ownership. So big pillar of our platform is that the creators that leverage fireside, they own all of their I. P. They own all of their audience data and they're directly relationship with their community. So we really are removing the middlemen of traditional platforms that are out there now, we're completely complimentary to all social platforms that are out there as well. So we give them tools beyond just being able to create um record shows live to also distribute the content that they're creating wherever audiences are with the tap of a button. So as for example, creator might be recording their show on fire side. They can be simultaneously creating and streaming to Youtube. Facebook linkedin switch, they can distribute the audio from their show two as a podcast to all the podcasting platforms in one tap. So it's basically not just enabling creators to streamline their ability to create, not just to invent new formats but with their audiences, but to also streamline the um different content product lines they're creating to grow their business. Um It's also giving them tools because they get insights that comes down to understanding how audiences are reacting to their content as their consuming lives to ensure that it's Consider they're generating quality content that their audiences want uh and then also enable them to create in one place and distribute everywhere natively. Um so that audiences can consume the content wherever they choose. Techcrunch is reporting that you're in talks to raise about $25 million 125 million. What I can say is we are completing a financing round um and we'll be sharing more information on that soon. We hope you come to cheddar when it's official brands often use promoted ads or partners on their platforms. Are brands using fireside. And what does the platform mean for them? Great question. Um So we have been approached by a lot of different brands as well as agencies and there's a lot of opportunity to partner up brands with creators in a way that enables them to weave the products or goals or initiatives that a brand has into the actual creating process of the content. Um And so you will be hearing in the next few months some innovative ways in which we will we are working with brands to um you know, kind of create some industry first branded entertainment opportunities. Um So more is coming on that front, exciting time for your company. Very exciting as it's going to be here. As you well know, so many companies are stepping into the metaverse, N. F. T. Offerings. Web three applications. Are you working on any virtual offerings? So our platform is Web three metaphors compatible, we like to say, um because all of these elements are absolutely critical, not just for distribution for content, but also in enabling participatory um entertainment formats to exist, not just on fire site, but also wherever audiences are. Um and so we think that there is a lot of promise with Web three. You know, it really aligns with our ethos of removing the middleman and enabling ownership and direct connection between creators and their communities. Um you'll be also hearing some announcements coming in the next few days actually, around some of the steps we're taking on the Web three front as well. Um And what we've already shared is, you know, we're looking at um, N. F. T. S as a starting point as a really interesting technology vehicle for um allowing creators and their fans to clip moments, let's say within a show, Mentos as an empty distributing all the marketplaces in a couple of taps. We think that the unlocks a whole new formats of merchandizing. That can be really interesting where you can own the shot of your favorite creators and then we also think that it's really compelling from a community perspective and you know, being the first participatory entertainment platform, we look at, how can we enable creators to allow their communities through web three elements to now participate, not just an individual shows that they're creating, but also in there, all the different product lines, podcast, scripted shows they might be working on to enable their communities to participate in that creative process. As you well know, there are so many partnerships when it comes to the media space, a lot of mergers, any plans to maybe merge with a bigger company down the line. So we um what's been really interesting from a fireside point of view and because we have one ft in technology and we have one ft in entertainment is what we're identity. We've been approached actually by a lot of the streaming platforms, by a lot of the rights holders and networks, especially on the unscripted side. Um, and what we're seeing is the platform that we're building, the technology that we offer. It's really never existed before in this world to be able to not streamlined, not just streamline what you're creating, but use it as a development tool to pilot concepts before investing in production because the insights that we can provide and that audiences can provide feedback on um, to use it as a community tool to be able to um kind of leverage fireside as a hub for your fragmented fandoms create companion content. I mean, imagine like there's some of these hit shows like Bridger Dayton, all you want to do is talk to people about it. There's no real second screen experience around that or a place for the community to come together and then third to also invent new format. So um I would say, you know, we see ourselves as building a very um you know, long term company that partners with all these different players in the space um to really really help them even evolve in everything that they're doing and build the media and entertainment companies in the future. And thanks to Fallon fatty me Ceo and co founder of Fireside for joining us in Austin texas.