What is Blockchain In Media & Entertainment Market?
Blockchain has the potential to revolutionise the delivery, consumption, and payment of media content such as music, video, and other forms of entertainment. Complex, customised content and service packages are beyond the capabilities of current technologies. Managing digital rights, royalty collections, and transactions among intermediaries is exceedingly complex in today's digital ecosystems. Content artists, such as musicians or authors, may use blockchain's decentralised structure to directly distribute their work to customers, avoiding existing distribution methods and retaining a bigger part of money. Geographically, North America has the largest potential in Blockchain in Media and entertainment.
The market study is being classified, by Application (Licensing & Rights Management, Digital Advertising, Smart Contracts, Content Security, Online Gaming, Payments and Others) and major geographies with country level break-up.
SAP SE (Germany), IBM Corporation (United States), Accenture Plc (Ireland), Microsoft Corporation (United States), Oracle Corporation (United States), Amazon Web Services Inc. (United States), GuardTime AS (Estonia), BigchainDB GmbH (Germany), Bitfury Group (United States) and Digital Currency Group (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Decent (Switzerland), Voise (Canada) and iProdoos, Inc. (United States).
Growing popularity of Blockchain technology because of its primary decentralised feature has drawn immense attention of investors and firms from media and entertainment industry. The decentralised structure of Blockchain would allow individual creators to get better share for their content and would revolutionize the consumption and payment mechanism in the media and entertainment industry. North America is expected to emerge as the largest market of Blockchain in media and entertainment.
Analyst at AMA have segmented the market study of Global Blockchain In Media & Entertainment market by Type, Application and Region.
On the basis of geography, the market of Blockchain In Media & Entertainment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising Demand of Reducing or Eliminating the Intermediaries between Consumers and Content Creators
- Enhanced Focus on Data Privacy
- Increasing Popularity of real-time billing and real-time allocation of royalty payments
- Payments Segment is expected to Experience Highest Market Growth
- High Initial Cost of Setup
- Blockchain in Online Gaming could make In Game Purchasable Items into Transferable Items to Other Games, and thus Putting Real-World Value on Digital In-Game Assets
- Highly Sophisticated Algorithms Limits the Growth to Certain Regions
- Lack of Standardization of Blockchain Applications in Media and Entertainment
Market Leaders and some development strategies
IN 2019, Facebook, Inc., an American multinational tech company famous for its social networking site has announced acquisition of Chainspace, a United Kingdom based small startup working on decentralized “smart contracts” system that could facilitate payments and other services through blockchain technology. This is in line with Facebook’s ambitions to capitalise on the nascent crypto and block chain industry. The company aims at building its own crypto currency backed by a fiat currency.
In 2021, Coinllectibles, the Fusion NFT Blockchain Company and complete subsidiary of Cosmos Group Holdings Inc. has announced plans to acquire Phoenix Waters Productions, an award-winning multinational production company. The acquisition deal may be valued at USD 4.4 million. The acquisition may be aimed at producing "Crypto Keepers" – Asia's first NFT drama series. The completion of acquisition deal may witness, combined entity with the shared synergies of both the companies, producing valuable media and entertainment physical assets with help of block chain technology.
Key Target AudienceBlockchain in Media & Entertainment Developers and Providers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Analysts and Strategic Business Planners and End-Use Industries
Frequently Asked Questions (FAQ):
1. Which factors would majorly drive the Blockchain In Media & Entertainment Market?
"Rising Demand of Reducing or Eliminating the Intermediaries between Consumers and Content Creators
" is seen as one of major growth factors of Blockchain In Media & Entertainment Market in years to come.
2. Can we have customized study for Blockchain In Media & Entertainment Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. Which region will lead the Global Blockchain In Media & Entertainment Market?
will lead the Blockchain In Media & Entertainment Market.