Blockchain in Media and Entertainment

Blockchain technology enables a fairer, more efficient and more transparent process for distributing royalty payments across the music or wider entertainment industry. Royalties can be distributed to artists and copyright owners closer to real-time and based on actual usage data as opposed to estimates. At the same time, the reliance on archaic, costly and insecure centralized royalty-tracking systems can be eliminated, as large amounts of consumption data can be stored securely on the blockchain in an immutable format.

Blockchain in media and entertainment is facilitating more consumer-friendly and efficient payment models such as micropayments and usage-based billing. Content consumption can be validated in real-time on the blockchain, while smart contracts are used to execute the settlement of billing and royalties for the content consumed ⁠— all without the need for intermediaries. Plus, with consumers favouring free or low-cost content, micropayments can be utilized to encourage payment for low-value, bite-sized content. All this creates a more efficient, profitable and transparent process for the monetization of content for artists, streamers and content creators alike.

When applied to the tracking and attribution of advertising metrics, blockchain technology allows agencies, advertisers and clients to benefit from a shared and immutable record of data. From clicks and impressions to the leads generated, a shared ledger enables each party to have an accurate and transparent overview of metrics, guaranteed to be free from manipulation and fraud. In this way, blockchain in the media and advertising market builds trust, enables more focused advertising spend and shows an accurate ROI.