Double Toasted grew out of two earlier Austin movie-review shows led by Korey Coleman. The first was The Reel Deal, a weekly Austin cable-access show that Coleman started with a friend as a way to see free movies. It ran for 10 years, aired live in front of a studio audience, and settled on a regular panel of Coleman, Martin Thomas, C. Robert Cargill and Chris Cox. After Coleman ended it, he made animated versions of the reviews for YouTube, and MIVA, a marketing services company, offered to finance them as Spill.com. The Austin Chronicle reported in March 2008 that Spill had drawn 1 million page views and 270,000 unique visitors the previous December. Because MIVA owned the animated characters' names and likenesses, everyone but Coleman used a pseudonym.
Double Toasted's own history says it began after the owners of Coleman's former website shut it down. Encouraged by Thomas and Brian Brushwood, Coleman launched a Kickstarter with a $30,000 goal, which the campaign met by the end of the month, and work on DoubleToasted.com began right away. By September 2014 the site was running a weekly schedule of live shows, The Sunday Service, The Casual Call In Show, The Weekly Roast and Toast and The Movie Review Extravaganza, along with written and audio reviews, subscriber-only video and a monthly free stream. The first shows were filmed in a bedroom; as the audience grew, the team added cast members and a studio. Thomas's site biography counts about 20 years of co-hosting with Coleman, from Access TV's The Reel Deal to Spill.com to Double Toasted.
In 2018 the Austin Chronicle described Thomas as co-host of "the award-winning Double Toasted film podcast," and in 2020 it called Thomas and Coleman "Best of Austin"-nominated critics and "Austin's Siskel and Ebert." The site is still active, with free and paid All Access memberships, a Patreon and a YouTube channel.