Blockchain In Media Advertising Entertainment Market Scope
Blockchain technology in the media & entertainment industry is currently being used to disperse royalty payments in music, movies, and online streaming services to prevent fake news across social media. The technology can be used to track the lifecycle of any asset and then reduce copyright and piracy-related problems. It helps in protecting digital content and facilitates the distribution of content smoothly. It covers advertising, music, movies, and other entertainment platforms and operations. The potential of fraud is becoming more prevalent with the increase of online streaming services which require online ticket sales which include compounding at a rate of 19 percent annually. The United States economy had lost about USD 12.5 billion each year from online music theft and its online advertising fraud costs about USD 19 billion annually.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | IBM (United States), Microsoft Corporation (United States), Amazon Web Services, Inc (United States), Oracle (United States), Rebel AI Inc. (United States), Tech Mahindra (India), Steemit (United States), Mediachain (United States), Dot Blockchain Media (United States), ConsenSys (United States), Protokol BV (Netherlands), BigchainDB GmbH (Germany), Factom (United States) and Voice (United States) |
CAGR | % |
Manufacturers form strategic partnerships with relevant stakeholders in the media and entertainment industry. This can include content creators, advertisers, platforms, and other industry players. Additionally, players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
IBM (United States), Microsoft Corporation (United States), Amazon Web Services, Inc (United States), Oracle (United States), Rebel AI Inc. (United States), Tech Mahindra (India), Steemit (United States), Mediachain (United States), Dot Blockchain Media (United States), ConsenSys (United States), Protokol BV (Netherlands), BigchainDB GmbH (Germany), Factom (United States) and Voice (United States) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Blockchain In Media Advertising Entertainment market by Type , by Application (Peer-to-peer Sales and Content Distribution, Streamlined Royalty Payments, Usage-based Billing Models and Others) and Region with country level break-up.
On the basis of geography, the market of Blockchain In Media Advertising 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).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
On 23rd September 2021, Umbrella Network the decentralized Layer-2 oracle solution announced the acquisition of Lucidity, a leading blockchain-based digital advertising oracle. The acquisition was completed in August 2021 for an undisclosed amount. and On 8th July 2020, Tech Mahindra Ltd., a leading provider of digital transformation, consulting, and business reengineering services and solutions announced the launch of a new digital platform, branded as ‘Blockchain-based Contracts and Rights Management System’ (bCRMS) for the global media and entertainment industry. The platform is designed to enable production houses and content creators to track revenue, and royalty payments, manage rights and address content piracy by leveraging the IBM blockchain.
On 21st June 2018, EY and Microsoft launched a blockchain solution for content rights and royalties management. Aiming to streamline the costly and time-consuming processes in entertainment rights and royalties, the solution is first being deployed within gaming with Microsoft and its game publisher partners.
Influencing Trend:
Emerging Virtual Reality Music Video to CGI in Blockbuster Movies
Market Growth Drivers:
Growing Number of Digital Content Collectibles Enabling Efficient Micropayment Pricing Models and Need for Protecting the Digital Content and Streaming Services Online Against the Piracy
Challenges:
Energy Consumption-Related Issues with Blockchain In Media Advertising Entertainment
Restraints:
Regulatory Cyber Security related Compliances with Blockchain In Media Advertising Entertainment
Opportunities:
Surging Spending on Digital Advertisement will Boost the Blockchain In Media Advertising Entertainment Market
Key Target Audience
Blockchain In Media Advertising Entertainment Providers, Media Advertising Entertainment Industry Association, Blockchain Technology Developers, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others