Studio71 CEO Reza Izad talks with Recode's Peter Kafka about how the business of online video has changed in recent years. Izad came to Studio71 when the German TV station ProSieben bought an earlier company that he co-founded, Collective Digital Studio, and he has worked with YouTube celebrities such as Fred, Lilly Singh and Roman Atwood. He believes "everything that’s successful in entertainment is an outlier" and talks about how digital stars can make the jump to other online platforms and traditional TV. Izad also chats about why Facebook's video ascendancy is a question of when, not if.

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