How Blockchain Will Transform the Media and Entertainment Space

Blockchain offers new ways for entertainers and artists to connect with fans. Kaleido makes building them easy.

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Benefits of Blockchain for Media & Entertainment

The media business is on the front lines of the digital revolution. Controlling ownership and distribution are difficult on the internet. Web3 applications empower creators to better monetize their art. They can set up an NFT marketplace, apply smart contracts to profit off future sales, or reward loyal fans who invest early in their success. Let’s talk about how blockchain makes it possible.

Asset Security

The media business has been one step behind digital sharers of content from the start. Blockchain applications are a way for creators to verify identities, limit sharing, and retain ownership of digital assets.

New Revenue Streams

With blockchain, creators can sell exclusive assets as NFTs and retain a portion of the profits from those assets as they’re traded in the future. This accountability also impacts streaming, where pay-as-you-go models empower consumers and reward artists directly.

Fan Connections

Imagine if an artist sells shares of their career at a launch party. This artist has the chance to bring fans along for the ride and reward loyalty as their career explodes. It’s a fan club as a multi-party system—which ensures revenue remains inside the creators community.

Media & Entertainment Use Cases

Micropayments to access songs, NFTs to accompany tickets—the blockchain opens new monetization channels and ways for entertainers to reward fans. Let’s dive a little deeper into the use cases and think about how the blockchain will transform the media and entertainment industry in the very near future.

Peer-to-Peer Transactions

A digital media economy allows creators and consumers to share and pay for materials on a local level. One study suggested that involving the consumer as a merchant can curtail the loose, free sharing of stolen files.

Royalty Payments

Today, artists split royalty payments related to streaming with the publishers and the services consumers use to access the content, realizing only a fraction of potential revenue. Smart contracts can empower immediate, accountable payments to artists for their work each time a song, video, or file is viewed.

Micropayments

Crypto wallets embedded in smart devices, televisions that allow users to pay for only the content they watch, the applications of micropayments via blockchain are a way to empower consumers and directly compensate creators without the fees credit card companies charge.

Immutable Ad Metrics

By 2023, ad fraud will cost consumers and brands $100 billion. Bot traffic, hidden and deceptive ads, and innovative bad actors waste money and wreck user experience. Blockchain shows potential to eliminate click fraud, reward ad viewers, and track spend.

Disintermediation

When the middle men are removed from a supply chain, sellers and buyers can make direct connections, save money, and realize more profit for products. Tokenization, smart contracts, and verified identities can bring accountability to decentralization—while offering brands and artists innovative ways to gamify engagement and create stickiness with fans.

Fraud & Privacy Protection

A hallmark of blockchain, verified ownership of a thing agreed to by the chain as a real thing, is one of the more promising applications of blockchain in media and entertainment. A clear chain-of-custody and immutable record keeping can eliminate theft, waste, and corruption.
Fans are looking for new ways to connect. Kaleido can help you build them with a platform that makes it easy to create blockchain-based apps without costly infrastructure.
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Challenges Facing the Media & Entertainment Industry

According to Deloitte, new technologies like NFTs will “lead to more digital product innovation, greater empowerment for their creators, and a fuller realization of the grand ambitions for blockchain, cryptocurrency, and the decentralized web.”

As streaming becomes more prevalent and continues to fracture across channels, an entirely new digital economy emerges when decentralization erodes the power (and profitability) of gatekeepers.

Challenges associated with the next digital transformation include privacy, ownership, pricing, and identity—all of which will impact the media industry directly.

Blockchain in Television

Blockchain technology can vet digital assets and eliminate fake videos before they make it on the news. Consumers can pick the channels they want and pay for the amount of content they consume. And NFTs can create exclusivity in a streaming world where everything is available all the time.

Blockchain in Film Distribution

An actor wants to be paid based on the (verified) reach of a movie. A studio wants to accurately price ads or product placements. Creators want to control access to and ownership of work. Identity, ownership, and copyright challenges can all be helped with blockchain.

Blockchain in Music

The legacy of Napster lives on in peer-to-peer sharing of music to this day, and an entire industry had to adapt. But challenges with payments, stream tracking, and payment distribution persist. Smart contracts, NFTs, and micropayments may cure what ails an industry on its heels.

Why Media & Entertainment Chooses Kaleido

Kaleido's modular platform provides developers with the infrastructure and applications to build custom solutions on a blockchain immediately. With just a few clicks, you can create a network and deploy a token economy fit to your business goals.

Blazing Fast Deployment, Speed, and Scale

Deploy Production-Ready Digital Assets in Minutes
Amazingly Low Cost Per Transaction
Multi-Party, Cross-Cloud, and Multi-Region Support
Built-In High Availability and Disaster Recovery
400+ APIs and 40+ Services to Accelerate Development

No Lock-in and Open Source Technologies

Support for Multiple Blockchain Protocols
Enterprise Integrations and Marketplace
Customizable Decentralization Options
Actively Leading New Standards and Technologies

Proven Enterprise Platform and Expertise

ISO and SOC2 Certified
SLAs and  24/7 Support
On-Chain and Off-Chain Services
Secure Key Management
Built-In Monitoring and Smart Contract Management
Proven in Production
1000+
Digital Transformation Projects
500M+
Blocks Mined on Kaleido Chains
5K+
Developers Across 30+ Countries
Rated #1
For Asset Tokenization and Blockchain as a Service on G2 Crowd

Kaleido Is the #1 Digital Asset and Blockchain Platform on G2

Learn why companies ranging from large global institutions to cutting-edge start-ups have chosen Kaleido as the #1 asset tokenization and blockchain as a service provider.

93%
Ease of Use
95%
Quality of Support

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FAQs

Is blockchain the future of the entertainment industry?

Blockchain technology opens new revenue streams for the media and entertainment industry. NFTs reward engagement and create stickiness with fans, micropayment models allow viewers to purchase more of what they want, and verified identifies make ad monitoring more accountable. Blockchain may also contribute to further disintermediation, helping brands, artists, and fans form innovative commercial ecosystems around a particular project.

How does blockchain protect intellectual property rights?

Blockchain uses a distributed ledger to create a single source of truth, and all members of the chain must agree before a change is made to the truth. This is what makes blockchain a destination for people seeking to protect valuable IP. True, validated ownership adds a layer of protection while tokenized economies allow copyright holders to monetize across borders.