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Centralized Revenue, Growth in Online Content and Blockchain Solutions
At present, the global media and entertainment industry – including film, TV, radio, music, news, and literature – is valued at around $2 trillion USD. That’s a lot of green by any measure, but the sector is currently experiencing changing dynamics that could potentially up-end the entrenched traditional aspects of the industry: centralization of content, control, and distribution being the main ones.
The disruptive power of the Internet and the exponential growth in online paid content is already a reality, and while most entertainment providers survived, others fell (we loved Blockbuster while it was here). While online content and improved technology have brought cinema-quality viewing into people’s homes, the next great disruptor is shaping up to come over the blockchain network, where decentralization and democratization of content and revenue are set to take things a set further.
The Present Day Centralized Revenue Model
Walt Disney, Fox, NBC, Time Warner… these are household names and have been for decades. And for good reason too: combined, the major production houses contribute $632 billion to the US economy annually. Aside from receiving the lion’s share of the US domestic entertainment and media market revenue, these producers share the largest proportion of the global market worth as well. Other industries are growing around the world, with the second and third largest being in China and India, but their proceeds still pale when placed in the shadow of the American establishment.
Online Content and Shifting Trends
Improved technology, including HD, 4K, Smartphones, and tablet devices have been fully utilized by online streaming platforms. YouTube, NetFlix, Amazon Prime Video and Music, Hulu, HBO Now and others have quickly become household names everyone recognizes. The majority of the large producers have adapted to the market change, but it has been a struggle with broadcast TV under considerable threat. Some have made the jump to paid advertising as their main revenue source through using big data to monitor consumer habits online, and deliver targeted ads. Estimates place ad spending per company at $73 million for smart devices alone in 2018.
Only A Part of the Trend Shift
Naturally, those who lose out under the traditional model are the content creators and to an extent the traffic drivers. Not to mention end-users paying increasingly greater subscription fees to access content. The middleman has become so second nature (creator – distributor – end user) that it is difficult to imagine media and entertainment without one.
If online content and improved technology have effectively made broadcast TV a redundant service, then the application of blockchain technology removes the need for a middleman to distribute content. This effectively connects creators directly with end-users. Take YouTube as an illustration of the current dynamic. Research shows that breaking into the top 3% of views a month (1.4 million views plus) equates to a meager $17,000 a year. Considering the phenomenal effort to first create the content, and then actively grow and nurture the follower base, the question begs: where is the revenue from ads mainly going? Clearly, transparency is lacking.
A Decentralized & Democratic Blockchain Solution
Enter the BUCKY House (BUCKY) platform. It takes the core principles of blockchain technology (transparency, trust, participation equality, and decentralized distribution), and applies them to entertainment and media. BUCKY House provides content viewers and creators with the freedom to view and distribute content directly without the need of an intermediary sitting on top, scooping up revenue.
If you are interested in creating and promoting your great content, then visit us today to learn more about our platform. Likewise, if you love viewing great content, and love paying less for it even more, then visit us today to see how BUCKY House works for you.
Everyone is welcome to participate in the BUCKY Coin (BUCKY) token sale and contribute to the development of the platform. And when we say everyone, we really do mean everyone.
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