The Future of Music and Video: A Decentralized Perspective
The Existing Landscape of Music and Video
Today’s music and video content is predominantly controlled by a few powerful platforms and distribution services. Giants like Spotify, Apple Music, and Amazon Music dominate the music industry, while the video industry is ruled by platforms such as Netflix, Amazon Prime, Disney+, and HBO Max.
Music
- Delivery: Spotify, Apple Music, Amazon Music, YouTube Music, and Tidal: 94% combined marketshare
- Publishing: Universal Music Group, Sony Music Entertainment, Warner Music Group, and BMG: 78% combined marketshare
Video
- Delivery: Netflix, Amazon Prime Video, Disney+, Hulu, and HBO Max: 79% combined marketshare
- Publishing: Universal Pictures, Warner Bros. Pictures, Paramount Pictures, and Walt Disney Studios Motion Pictures: 72% combined marketshare
From the Lens of a Content Consumer
As consumers, we have largely adapted to these systems due to the diverse content they offer and the innovative steps they take to improve the user experience. Spotify, for instance, incessantly fine-tunes its algorithms to suggest new music that aligns with individual tastes. Similarly, Netflix distinguishes itself by producing exclusive content, continually augmenting its vast library.
Challenges Faced by Content Creators
Contrary to consumers, many content creators find themselves trapped in exclusive agreements with these giant distribution services. These artists and filmmakers are limited in their methods to reach audiences and often earn less while intermediaries pocket the majority of the profits. Further compounding the issue, they must trust these intermediaries to accurately report the number of times their content has been accessed.
A Glimpse into a Decentralized Future
Imagine a scenario where the dynamics of content creation and distribution are radically altered. What if this process could be disintermediated, decentralized, and made transparent? This could significantly change the game for creators and consumers alike.
While it’s true that current decentralized applications (dApps) are grappling with issues like transaction fees, numerous projects are developing solutions for feeless transaction DLTs (aka blockchains). In combination with Web 2.0 technologies, these could offer robust, user-friendly tools for hosting, publishing, and delivery, thereby challenging the dominance of siloed media conglomerates.
Innovations in a Decentralized Media World
In this potential future, creators could choose from multiple publishing services, or even publish content directly to delivery services from both centralized and decentralized hosting providers. They would have complete transparency over their delivery metrics and the power to reject exclusive contracts.
Delivery services would also diversify and innovate to benefit consumers. Developers and AI could work together to curate and deliver media in novel ways. This could lead to entirely new sets of controls and options for users, creating a world of personalized experiences.
The Dawn of a New Era in Media Delivery
Imagine being able to access a diverse range of content, unrestricted by a single delivery service or publisher. As a listener or viewer, you could enjoy content from various sources, curated by AI to match your preferences.
Overcoming Challenges and Moving Forward
Nonetheless, the path to this future is not without obstacles. Current DLTs need to address the challenge of transaction fees. Furthermore, integrating these technologies with existing web infrastructure will require substantial effort. Issues of privacy and data security also need to be tackled. However, given the rapid pace of technological innovation and the growing interest in decentralized solutions, these hurdles can be surmounted.
In summary, the potential of decentralized technologies to transform the landscape of music and video delivery is considerable. By empowering creators with greater control over their work and offering consumers enhanced personalization, these technologies could democratize and diversify the media landscape.
The Role of Intermediaries in a Decentralized World
While intermediaries may lose their monopolistic control, they would still play a crucial role in this future media ecosystem. They could serve as bridges between the old and new systems, facilitating the transition and providing services that enhance the user experience. Their role would evolve from gatekeepers to enablers, ensuring a smoother, more accessible media landscape.
A Vision of a Decentralized Media Future
Imagine a world where anyone can be a broadcaster, with the ability to publish and monetize their content directly. A world where consumers can seamlessly switch between different delivery services, each offering unique features and experiences. A world where intermediaries focus on providing value-added services rather than controlling access. This is the vision of a decentralized media future.
Final Thoughts
The journey towards a decentralized media future is fraught with challenges. However, with continued innovation, collaboration, and a shared vision, we can build a future where the power dynamics in the media landscape are balanced, benefiting creators, consumers, and intermediaries alike. It’s a future worth striving for.
Author’s Note: This article is a speculative exploration of the future of media based on current technological trends and advancements in blockchain and decentralization technologies. The future may unfold differently, but envisioning these possibilities allows us to engage in dialogue and shape the course of technological development.
About the Author:
Dylan Tullberg is a futurist and tech enthusiast with a keen interest in AI, blockchain and decentralization technologies. He has been closely following the evolution of the media industry and believes in the power of technology to transform societies. Connect with him on LinkedIn.
Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of any agency or organization.
