Blockchain Could Bring Our Binge-Watching to the Next Level
Faster and competitively priced broadband services have fuelled the growth of online video streaming services, creating the “Over-The-Top” (OTT) market.
The top three paid OTT providers are Netflix, Amazon, and Hulu. The peak time viewers tune in is prime time hours. Traditional TV viewing is dropping as consumers adapt to new ways of viewing television.
Globally, the OTT market worth is now estimated to be $35.22 Billion.
Peer-to-peer file sharing doomed the music industry in the early noughties with the development of the free MP3 file sharing app, Napster. In fact, the app was so devastating it was dubbed the killer app of its day. That was the start of the era the internet is in now. People can search and access free MP3 files, music albums, films, entire TV series, box sets and eBooks. Practically everything online is accessible for free.
P2P sharing is costing the entertainment sector millions. It’s affecting the livelihoods of creative entrepreneurs and forcing some to give up their dreams, hopes and aspirations because they’ve been robbed of the ability to profit from their work.
So you’d think P2P would be a bad thing!
Not so. Blockchain makes things truly peer-to-peer. The file-sharing systems used just now are centralized, which means someone somewhere administers the network.
Blockchain is decentralized. There is no single administrator. It’s a secure track-and-trade technology enabling the trading of anything - not just digital assets, but physical entities too.
Instead of the entertainment industries fearing the blockchain, they’re desperate for it.
While the top 3 OTT platforms battle it out for viewer attention for revenue retention, tech teams are busy developing the blockchain technology that all OTT platforms have failed to recognize.
The Huge Potential of Independent Films.
Thousands of indie films are released every day by production companies globally and across multiple genres. Imagine an entire Film Catalogue from every major film market the world over. America, Europe, Hong Kong, Cannes, all connected to producers, distributors, directors and actors simultaneously on a blockchain video streaming platform.
Smart-contract functionality would enable pay-per-view transactions with percentages split automatically to all parties at the time of payment - and without the need for a central administrator.
That is what’s in early stage development by Stream Token, Viewly, and Livepeer.
Projects are underway to develop blockchain video streaming platforms that will connect thousands of entrepreneurial creatives and a library of thousands of indie films with the genres of the top 3 OTT platforms combined into one central hub.
Binge-watching will change as global audiences gain access to smaller productions that are gate-locked out of the mainstream.
The only thing that will stand in the way of indie film producers getting airtime will be the funding required post-production. That’s estimated to exceed $100,000.
That's where Etherecash could lend a hand.
It’s Etherecash’s ambition to provide the world's first peer-to-peer lending platform leveraging the decentralization of blockchain, fully integrated with lawyer backed smart contracts, near real-time revenue share and reporting functionalities.
This will assist in streamlining funding for film producers to create their film productions, which is typically hard to find.
Purchase our Etherecash token through our ICO from November 15th 2017. Developed on the ERC20 blockchain technology with lawyer backed contracts, to make blockchain backed lending and fund management, private and seamless.
Buy our tokens now. Visit Etherecash.io.