How Blockchain Technology can Help Create a Fair, Transparent Revenue Share For Movie Creators Through The MovieBloc Platform
Hello Movie Creators!!
I’ve got an interesting project to discuss with you guys today which will certainly interest you. So make sure you read to the end of this article to get the full gist.
As a movie creator, are you frustrated with the lack of fair, transparent revenue share that exists in the industry?
Are you disturbed about the online distribution that has become commonplace thereby not letting you earn more for the hard work you put into making your movies?
Do you feel pessimistic about the future of the movie industry because of the conglomerate and a few major studios that control the industry?
It is actually not a secret that that movie industry is one of the least transparent in the entertainment sector. The industry is controlled by a few powerful corporations thereby making it almost impossible for independent filmmakers to make headway consequently denying viewers the chance to watch various movie contents they would have wanted to. Movie creators face many challenges in today’s movie industry ranging from industry oligopoly and vertical integration, limited funding opportunities and revenue sharing problem.
But perhaps the most challenging problem of these three is the revenue sharing issue which sometimes forces film producers to upload their movies for free due to lack of platforms that provides fair, transparent revenue share. After going through months and years of hard work producing amazing movie contents, distribution becomes a huge headache for these movie creators due to how the industry is currently structured.
There seems to be light at the end of the tunnel though as there is a new wave of technological innovation sweeping through virtually every sector. This new tech is called Blockchain technology. Blockchain is a decentralized digital ledger that allows transactions to be recorded and verified over a secure, encrypted platform. The major advantage of this breakthrough technology is that it eliminates the need for a middleman or an intermediary and this will definitely come handy in the movie industry.
The Blockchain tech can help independent film producers get their movies across to their viewers without the need for these conglomerates and major film houses. This brings us to the novel platform that I want to talk to you guys about. The platform I’m gushing about is called MovieBloc.
Introducing MovieBloc — A Decentralized Movie & Content Distribution Platform
MovieBloc is a novel decentralized movie and content distribution platform powered by KMPlayer, the world’s #1 multimedia player with over 20M active monthly users and Pandora TV. The MovieBloc platform will be built on the Ontology blockchain which is a new high-performance public blockchain. The aim of MovieBloc is to decentralize the monopolistic, conglomerate-dominated film industry in order to create a participant-centric ecosystem that rewards every single participant on the platform ranging from creator, curator, translator, reviewer, or viewer. MovieBloc will leverage KMPlayer user base and provide movie creators with an equal opportunity to create and show their films.
What currently exists in the movie industry is conglomerates and major film houses earning a larger share of the revenue from the distribution of movies at the expense of these independent film producers. Due to the lack of transparent revenue sharing platform in the industry, movie producers are at the mercy of these major film houses to help them distribute their movies to their viewers. This is basically what MovieBloc aims to reverse by giving power back to the movie creators and connecting them directly to their viewers thereby eliminating these middlemen and in the process giving them a fair, transparent revenue sharing platform.
The CEO of MovieBloc, Chris Kang, is certainly not new to the movie industry and in his words:
“Streaming technology and platform operation experiences from Pandora.tv, the huge active user base of KMPlayer, and Prism’s experience in the AD market are the key strengths of MovieBloc to achieve its vision. With a close partnership with the Ontology Foundation, MovieBloc will bring change to the video industry”.
The MovieBloc platform guarantees movie creators up to 90% of revenue share from their movies. Movie creators only need to upload their movies on the blockchain-based MovieBloc platform which is transparent, set the price, exhibiting period, areas and specify other parameters through smart contract. Viewers come on the MovieBloc platform and consume these contents paying directly for the movies consumed and the creators get their revenue immediately. Creators have the chance to upload their movies for a diverse audience from over 150 countries around the world with just a single upload. The creators receive their share from the revenue sales automatically according to the smart contract. It doesn’t get any easier than this!
The MovieBloc Platform has a utility token called MBL that can be utilized by consumers for a variety of uses relating to consuming film and other content on the platform.
MovieBloc will revolutionize the movie industry in ways never seen before by ensuring fair, transparent revenue for movie creators, giving viewers the opportunity to watch movies of their choice, providing movie creators with a diverse audience, removing technicalities and reducing overall overhead costs involved with movie distribution. Blockchain adoption is gradually going mainstream and with a platform like MovieBloc making it possible to stream movies online with the use of its native token, MBL which is tradable on exchanges, there is certainly a bright future for cryptocurrencies and blockchain.
Other Blockchain Projects Trying To Revolutionize The Movie Industry
Before the emergence of MovieBloc, there have been a number of blockchain projects that have looked at how blockchain tech can help to solve some of the major problems inherent in the movie industry and we’ll look at quite a few of them.
White rabbit technology basically aims to solve the problem of online piracy in the movie industry with the watchword “stream it all without stealing at all”. The White Rabbit platform allows everyone to reward films regardless of whatever peer-to-peer platform they are streaming from. White Rabbit technology uses blockchain’s smart contract to recognize any content and then rewards films rights holders accordingly. The platform helps prevent piracy and in the end, ensures that everyone is happy both filmmakers and viewers.
Cinezen is a decentralized, transparent Video On Demand platform built on the Ethereum blockchain leveraging smart contracts to allow distributors to have access to the data on their assets. Every film on the Cinezen platform is treated as a smart asset and every transaction (either sale or lease) is recorded on the blockchain thereby allowing distributors access to all data on their content. This ensures that content creators control the data on all their assets.
MovieCoin wants to help movie creators raise funds that will be needed for the production of their movies, television programs, and other entertainment industry assets. The movie business is a trillion dollars business and many filmmakers suffer from lack of funds. MovieCoin aims to help in this regard by issuing a token which the public can buy and which serves as a form of ownership interest in the projects financed e.g. GOT Token, Fast and Furious Token, etc.
SingularDTV’s mission is to reshape the entertainment industry with a blockchain-based ecosystem that provides movie creators with the tools needed and also gives fans a diverse collection of classic and original content. The end goal of this platform is to turn the entertainment industry into a more fair, efficient and transparent business thanks to blockchain and smart contract technology.
We have seen many blockchain projects trying to solve a particular problem in the movie industry from the foregoing but what makes MovieBloc different is that it caters for every participant in the ecosystem ranging from creators, curators, translators, reviewers, or viewers and ensures that all are rewarded according to their role and contribution. Movie creators are rewarded with a transparent revenue share, audience data, and equal screening opportunity while the viewers will have access to diverse films and content, and will also be rewarded for providing curation, subtitles, and marketing materials to the community.
For more information on MovieBloc, Please visit the following useful links: