Skyrocketing Growth of Blockchain in Media, Advertising, and Entertainment
The re-invention of the traditional system of content distribution and production
The latest report from MarketsandMarkets forecasts the Compound Annual Growth Rate (CAGR) of blockchain in media, advertising, and entertainment market to be 81.1%, growing from $51.40 Million in 2018 to $1 Billion by 2023. The report suggests that the application provider segment is anticipated to grow at the highest CAGR during the forecasted period. This is driven by the potential of blockchain-based applications re-inventing the traditional system of content distribution and production, helping prevent illegal file sharing, and enabling transparent rights management for media, advertising, and entertainment market actors. Furthermore, North America is expected to have the largest sector in the overall market during the forecasted period.
Reveel’s take
It is not surprising that blockchain in the media, advertising, and entertainment sectors will be seeing a significant CAGR in the next five years. We have been contributing to the dialogue on the role of blockchain in bridging the gap between digital and non-digital advertising and creating cost-effective multi-channel media campaigns that help brands reach billions of consumers through TV, streaming video, print, social media and Out-of-Home advertising. Reveel is well positioned to lead the innovations in marketing and advertising that will come as it integrates blockchain technology to its already operational platform. We have previously published our opinion on blockchain’s roles in, etc. Most importantly, blockchain enables scalability of the Reveel platform by creating a trusted pool of creative talent to assist media owners, accelerates the path to purchase by rewarding consumers for interacting with media, and provides a comprehensive media and marketing platform for businesses both big and small.
We are excited to continue our journey in this exciting space. Follow along on Twitter and Telegram for the latest updates!
