Current Market Issues & Script TV Network Solutions
The golden age of television seems to be already behind us. With more people at home than ever before due to the pandemic, television struggled to maintain its ratings. Production studios were forced to shut down, resulting in lower quality programming, and audiences shifted their consumptions habits.
Other forms of digital media, such as podcasts, social media, gaming, and video-on-demand (VOD) services, are becoming increasingly popular to the detriment of television. Traditional media is declining as people spend less and less time watching television.
Even more worrisome is that the drop in ratings is especially prevalent amongst younger demographics, which indicates that television viewership will continue to trend down as years pass by.
“The world’s changing. It’s time we change too”
Witnessing the tremendous success of Netflix, major companies such as Disney, WarnerMedia, and ViacomCBS are moving away from traditional media and investing in subscription-based video-on-demand.
Forecasts suggest video-on-demand will grow at an astonishing pace for the next five years. This may come as no surprise to some, as this type of service excludes advertisement and offers greater freedom of choice regarding content.
Another growing trend is the advertisement-funded video-on-demand (AVOD), which allows users to access a library of content for free with the drawback of having to watch ads. Although progressive, this model is still a few steps behind Script TV and blockchain-based platforms.
Revolutionizing the advertising model
While television viewership is down, it remains unmatched as an advertising medium. Ads on major broadcast networks still reach consumers at a large scale, but the same can not be said about younger audiences. To efficiently target this demographic, marketers adopt alternative mediums such as Youtube.
Script TV can cater to millennials and teenagers, incentivizing them to join a fair and more transparent business and advertisement model. Script TV users will access more than 30 channels of great content and get paid for watching ads (watch-to-earn).
Through token rewards and non-fungible tokens (NFTs), our revolutionary ad model is also ideal for companies and marketers. NFTs can promote new movies/shows or be used as tickets to live events, thus generating more buzz and engagement.
Script TV can become an excellent alternative for studios and television networks by offering added value to consumers and marketers alike. Television can leave its traditional roots and move onto the blockchain, thus regaining its dominance as the preferable home entertainment medium.
About Script TV
The Script Network is a video-based blockchain protocol focused on decentralized storage and 24/7 live content. Script Networks products include Script TV, Script Video NFTs, and multiple other dApps currently being built on-chain.
Script TV, one of the core services of the Script protocol, is a free-to-air live television platform. It features countless channels and offers diverse movies, sports, documentaries, and news content.
Filmmakers can finance their productions through the Script fundraise mechanism, while users will be rewarded with $SPAY tokens for watching content (watch-to-earn) and sharing their bandwidth with the network.
