Media and Entertainment Industry: Ripe for Blockchain Adoption
The media and entertainment industry is affected by the commoditization of content and ubiquitous piracy of intellectual property (IP). Today, media users have free access to digital content and most of them are hesitant to sign up for paid subscriptions for premium content. In addition, the industry is beset with co pyright infringements. The new consumption models and streaming subscriptions have contributed to only partial recovery of revenue leakage.
All these inefficiencies make the media and entertainment industry an ideal use case for blockchain adoption. Blockchain in media and entertainment can help with decreased IP infringement, provide greater transparency into who owns the content, and enable monetization of copyrighted assets through smart contracts.
All these inefficiencies make the media and entertainment industry an ideal use case for blockchain adoption. Blockchain in media and entertainment can help with decreased IP infringement, provide greater transparency into who owns the content, and enable monetization of copyrighted assets through smart contracts.
What Impact can Blockchain in Media Make?
The implementation of blockchain in media and entertainment can bring a significant change in the industry by enabling the following:
Power to Copyright Owners
Blockchain can eliminate the involvement of platform providers, content aggregators, and royalty collection associations significantly, thereby empowering the copyright owners.
Decentralized Payments
Blockchain can decentralize the collection of payments and advertising revenues. Payment transactions become cost-efficient and revenue distribution can be automated using smart contracts.
Greater Transparency
The decentralized nature of blockchain contributes to greater transparency of provenance of any asset. In addition, it facilitates tracking the lifecycle of the asset.
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Use Cases of Blockchain for Entertainment Industry
Content Pricing
Blockchain can make the distribution and monetization of bite-sized content smoother and more accessible. It can empower copyright owners to keep track of the usage of their material and receive their fair share of profits accurately and cost-effectively.
Bypassing Intermediaries
Artists can sell their digital music or videos directly to their fans without the need for intermediaries like record labels. The allocation of revenues from music streaming, whether from advertising or paid content can become more fair.
Royalty Distribution
Blockchain has the potential to make the distribution of royalties more efficient and transparent. This includes a music directory with the original digital music file linked to all relevant identities of the content creators, as well as smart contracts specifying how artists should be compensated and how sales proceeds should be divided.
C2C Sales
Blockchain's transparency can allow content owners to regulate peer-to-peer content distribution and create new business models, such as consumer-to-consumer marketing of content. The legal sharing of paid content among users can generate additional revenue for copyright holders.
Unrestricted Content Consumption
Blockchain has the potential to make DRM (Digital Rights Management) systems less complex or even obsolete, as every transaction and consumption is tracked in the blockchain and linked directly to a user. Payments can be automatically initiated based on the smart contract terms for the content.
Why Choose us for Blockchain Development for Media and Entertainment?
By partnering with Antier, you can rely on a team of technical experts with real-world experience delivering end-to-end blockchain services.
Blockchain Pioneers
With years of experience in blockchain technology, we are the industry pioneers with extensive expertise. We do one thing, and we do it well.
Customization Excellence
We understand– No two businesses are the same, nor their needs. We excel at tailoring solutions to your unique requirements and vision.
End-to-End Services
We provide end-to-end services covering everything from ideation and development to deployment with the utmost professionalism and expertise.
Security-Centric Approach
Security is paramount in the crypto space so we adopt a security-first mindset, implementing industry best practices to safeguard your digital assets.
Competitive Pricing
We offer competitive pricing structures that ensure you receive exceptional value for your investment without compromising on quality.
24/7 Support
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