The first ever movie theatre devoted to motion pictures was opened in 1905 in Pennsylvania in the USA. It had less than 100 seats and cost 5 cents per show — around $1.50 in today’s money. So although not too expensive, it was very limited with regards to the number of people that could see a show.
Fast forward to today and we have bigger theatres (200–300 seats on average) and better filmography, including 3D capabilities. However, the experience of going to the movies is still essentially the same, but at a much higher price tag. In some countries, the average movie ticket costs more than $17, compared to the US and Canada’s more modest $8.
Apart from comfort, being too expensive and restrictive access are some of the reasons why movie theatre attendances have been falling. It’s a similar story for cable and satellite TV subscriptions.
The advent of the internet brought us the possibility of consuming content on any connected mobile device through streaming. People anywhere around the world can now get easy access to movies and TV shows without needing to go to a movie theatre, at a fraction of the cost of traditional cinema tickets.
Another benefit is, of course, the ease of payment through online channels. There are around 2 billion people globally that do not have access to traditional banking services (such as a basic bank account). But through alternative online payment channels, including mobile applications, the underbanked and underserved do not have to be excluded from online streaming services.
The largest streaming provider has around 130 million subscribers that can stream and watch over 5,000 movies and TV shows at any one time (depending on which country you are in) at a standard subscription of $11.
Spuul has over 60 million users and over the past 6 six years has become one of the top Video On Demand providers with an extensive library of premium Asian-focussed content at affordable prices.
The level of access and cost-savings that technology has brought to the entertainment sector is simply impossible to achieve within traditional industries.
Blockchain brings greater efficiencies
Despite the technological advances, the content streaming sector is still not perfect. OTT (over-the-top) players and other content intermediaries like YouTube take most of the streaming revenues while smaller and smaller percentages are actually going to content creators. Content consumers are also not rewarded for invaluable reviews, ratings and other forms of feedback.
In addition, advertisers are paying huge sums of money for complex advertising strategies while not being able to measure how effective they are in actually reaching their target audience.
The strategies have not really changed since the early 1900’s. Media monopolies and empires control the creation and distribution of content and customers are being forced to pay more and more for content.
By leveraging Blockchain technology, the SPOKKZ token will eliminate the need for costly intermediaries between TV and film producers, the audience that watches it, and even the stars of these shows.
The result is improved speed, accuracy and efficiencies in the production of content while enabling a greater transfer of value between the various stakeholders of the media.
The current Spuul wallet will also be upgraded to accept the SPOKKZ token, allowing for uncomplicated viewer rewards and frictionless payments, while becoming one of the largest wallet communities in the world with over 60 million users.
According to Price Waterhouse Coopers (PWC), the Global Entertainment and Media industry had revenues of over US$2 trillion in 2017. The SPOKKZ token will disrupt the industry with the introduction of a Blockchain-based platform, so that these revenues can be equally distributed among stakeholders including viewers, producers, stars and advertisers.
Be part of this streaming revolution by joining the live pre-sale today, and enjoy bonuses of up to 60% on the SPOKKZ token. Visit spokkz.com for more information.