How Blockchain Plays a Major Role in Revolutionizing The Future Of Entertainment Industry
The phenomenon that is Blockchain is creating quite an aura of excitement everywhere in the digital technology domain. Speaking of its dominance, its benefits as associated with the Entertainment industry are infinite.
Let’s discuss some key points regarding how it is applicable in enhancing the Entertainment based Industry.
(i) Smoothly dealing with content creation and consumption:
Speaking about the Entertainment Industry, take the case of the subcategory that is Music. Here the work involved isn’t as simple as commonly believed. There is a lot of work involved in reality. It is associated with signing a deal with a Label who will be involved in recording, distribution, monetization, and all the other stuff to ultimately get the revenue for both the artists and the firm as well. This logic applies to the Film and Television subcategories as well. Blockchain smoothly handles the distribution of all the related content. Further, it effectively ensures that there are no problems whatsoever between the concerned artists and the firm as well.
When it comes to access of all the content on the online channels, Blockchain assures that everything is done without a hitch. All the financial related work along with the management of Digital Rights and other such stuff are dealt exceptionally by Blockchain. In short everything between everyone is fine and the consumers have the best experience for sure.
(ii) The Piracy era is over:
Privacy leaks have long been a menace for the entertainment industry which wants to expand its foothold in terms of supremacy to an even wider range of audience. These can cause significant problems and when speaking about the privacy from the user’s perspective these leaks can surely cause a great deal of emotional trauma.
YouTube, Netflix, Warner and all the other big guns in the entertainment industry are busy refining everything with the end goal to enhance their royalty payment dealings so that any disputes or issues are ultimately closed for good. Bringing Blockchain into the picture can ascertain that the userbase has the top level security. Blockchain Technology is also predicted to spell doom for Satellite and Cable TV services. However, this won’t be happening soon enough.
(iii) The troublesome worries regarding Digital Rights will simmer down:
Another bothersome headache which the Entertainment Industry is facing at present is associated with the management of Digital Rights. It is indeed a taxing venture to find the person who has all the rights related to a given content. Here Blockchain acts as the savior where all the work associated with record keeping in the public domain ascertains to effectively track the owner and the users as well. By integrating an ID with a given content, Blockchain can seamlessly monitor the performance of that content all over the planet.
(iv) All the concerned personnel in the Entertainment Industry will get paid soon enough:
In the Entertainment Industry where payment for every single person’s hard work is indeed a tedious process, Blockchain has everything to make a difference. All the artists, the directors, and the producers can get paid as soon as their content is distributed all over the world. Speaking of this amazing service provided by Blockchain, the associated cost is almost zero.
Pyramidion Solutions is known as that special when dealing with App Development in Dubai. Having an immense thirst for knowledge, it has since branched out its expertise when it comes to all other digital technologies like Blockchain, Artificial Intelligence, AR/VR and Digital Marketing.