Japan, Japan, Monday, March 14, 2022 08:18:45 / Comserve Inc. / – Blockchain in Media, Advertising, and Entertainment Market offers an overview of major companies encompassing their successful marketing strategies, market contribution, recent developments in the historical domains and current contexts.
Blockchain in the media, advertising and entertainment industry is expected to register a CAGR of 82% during the forecast period. Blockchain not only disrupts existing business models, but also enables the development of new business models, especially in the media industry.
– Digital technologies are dramatically transforming the global media and entertainment industry, particularly in the areas of content production and distribution, with blockchain being the most significant technological disruptor. According to Accenture, 55% of media and platform executives believe blockchain is one of the top five priorities for their business. Additionally, 83% of executives plan to increase blockchain investments over the next three years.
– The need for blockchain in media and entertainment is increasing due to the subsequent commoditization of content and the widespread piracy of intellectual property (IP). The growing need to eliminate intermediaries between content creators and end users, growing demand for secure and faster transactions, and increasing cases of data piracy in media and entertainment are some of the major factors driving the market.
– In addition, media users are accustomed to having free access to a wide variety of content, as the media and entertainment industry is a contractual business that places great importance on the protection of intellectual property. Additionally, all media segments have suffered significantly from digitization, as content can be copied and distributed quickly and without loss of quality. Indeed, digital rights management systems have not yet reduced copyright infringement.
– With the advent of blockchain, this industry structure could change significantly. Blockchain technology makes it possible to circumvent content aggregators, platform providers and royalty collection associations to a large extent. Thus, market power shifts to copyright owners. Blockchain technology has the potential to increase profits for content creators and media companies by providing real-time consumption-based pricing against assets with an immutable state and digital identity. This solution reduces transaction costs by 40-80%, making payment applications the leading segment among others.
– This technology also eliminates the need for intermediaries and subsequently reduces administrative costs and time for providers and payers. However, the lack of standardization is hindering the growth of the market to some extent. Moreover, the process of implementing new technologies is expensive and time-consuming, which hinders the growth of the market.
Blockchain technology is a digitized public ledger. Initially, it was only used for cryptocurrency transactions. Blockchain is now used in various sectors of the manufacturing industry, such as consumer electronics, media and entertainment, automotive, aerospace and defense, textiles, energy and electrical, food and drink, etc. Various processes, such as transactions, transportation, and inventory management, are noted and organized sequentially without keeping any records or files.
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Main market trends
The payment application is expected to dominate the market
– Media users today are very used to having free access to a wide variety of content. This is mainly because the media and entertainment industry is a contract-based business that places great importance on intellectual property protection. Additionally, all media segments have suffered significantly from digitization, as content can be copied and distributed quickly without loss of quality.
– Blockchain technology provides real-time consumption-based pricing against assets with immutable state and digital identity. This solution reduces transaction costs by 40% to 80%, depending on the level of adoption and scale in the industry, making payment applications the leading segment among others. Another popular application, cryptocurrency, facilitates micropayments to content providers. Companies use it to let customers buy and play single songs or videos, for example, or buy permission to read a news article.
– A blockchain-based startup called Yours operates a digital platform where authors and other content creators post their work and charge fees in the form of Bitcoin Cash (a spin-off of Bitcoin). Since Bitcoin Cash transaction costs are extremely low and no bank or credit card company is needed to complete a sale, authors can charge as little as pennies per article and publish and monetize their content. themselves.
– Pay-per-view consumption has become possible thanks to blockchain-powered micropayments. Blockchain’s ability to keep a complete record of its data could allow for more accurate tracking of when and how copyrighted content is consumed.
– Many content providers use technology to accept payments via Bitcoin. For example, Dish Network has taken Bitcoin as payment from subscribers since 2014 and recently started accepting slightly different (but still crypto) Bitcoin Cash as payment.
North America is expected to hold the largest market share
– North America is expected to hold the largest global blockchain market size in the media, entertainment and advertising market over the forecast period. The region has witnessed an increase in blockchain investments in the media, advertising and entertainment industry due to the presence of key players in the region. Early adoption of advanced technologies and digitization are expected to fuel the growth of blockchain in the media, advertising and entertainment market.
– Canada is one of the fastest emerging countries in the region as a major player in blockchain development. This is mainly due to initiatives such as the Blockchain Research Institute (BRI) in Toronto, the Blockhouse in Montreal and the BC Blockchain Forum in Vancouver. These initiatives bring together start-ups, private sector companies such as IBM and Accenture, and various levels of government to establish a solid foundation for the developing ecosystem.
– For example, Dubtokens, which has offices in Montreal, Toronto and Switzerland, whose Interactive Video and Experience Protocol (IVEP) is a blockchain-based platform. It combines real-time data and payment infrastructure with a personalized experience for each viewer and is compatible with popular web services such as YouTube, Facebook, Vimeo and Twitch as well as television and radio distribution networks.
The blockchain competitive landscape in the media, advertising and entertainment industry is moderately concentrated as there are very few players offering blockchain solutions, especially in the media and entertainment industry. The vendors have adopted different types of strategies, such as partnerships, collaborations, acquisitions, and new product launches, to expand their market presence and also increase their market share.
– January 2019 – Global blockchain company, The Bitfury Group, recently announced the launch of a music and entertainment division that will create an open source music platform secured by the bitcoin blockchain. The open source platform, named SurroundTM, will encourage collaboration and foster innovation within the industry, the company said.
– June 2018 – EY and Microsoft launch a blockchain solution for managing content rights and royalties. Aiming to streamline costly and time-consuming entertainment rights and royalty processes, the solution is first being rolled out in games with Microsoft and its game publishing partners.
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1.1 Study deliverables
1.2 Assumptions of the study
1.3 Scope of the study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Further commodification of content and widespread piracy of intellectual property
4.3.2 The growing need to eliminate intermediaries between content creators and end users
4.3.3 Growing demand for secure and faster transactions
4.4 Market Constraints
4.4.1 Lack of standardization
4.4.2 Expensive and time-consuming deployment
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness – Porter’s Five Forces Analysis
4.6.1 Bargaining power of suppliers
4.6.2 Bargaining power of buyers/consumers
4.6.3 Threat of new entrants
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By blockchain type
5.2 By business size
5.2.1 Small and medium enterprises
5.2.2 Large companies
5.3 By request
5.3.1 Licensing and rights management
5.3.2 Digital Advertising
5.3.3 Smart contracts
5.3.5 Online game
5.3.6 Other applications
5.4.1 North America
5.4.4 Latin America
5.4.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 IBM Corporation
6.1.2 Microsoft Corporation
6.1.3 Ernst & Young Global Limited
6.1.4 Bitfury Group Limited
6.1.5 SAP OS
6.1.7 Amazon Web Services, Inc.
6.1.8 Oracle Corporation
6.1.9 Infosys Limited
6.1.10 Ujo Music
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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