Seems like the guy in the video wants to prove a point and tries to bait the fish in the water by holding some food above the water tempting it to the surface. The fish, however, refuses to be the object of the man's entertainment and insists to prove its point.
So a giant fish leaps up and latches onto the man's arm The man and the fish start a battle and the woman videotaping alternates between cheering and screaming. If it wasn't for the help of two others next to the man, it's likely that the fish would have pulled him to the water.
The incident reportedly took place in Florida, according to The Sun newspaper, and the large fish is thought to be a Tarpon. Tarpons are known to jump out of the water in the way seen in the video, and others are advised not to try and tease or catch fish in this manner.