Blockchain Offers Revenue Opportunity for Everyone in the Filmmaking Industry

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Original content creators in the film industry have decried the inadequacies that exist in the compensation systems within the industry. This is especially because they depend on the conditions of mega studios, film publishing and advertising companies in order to reap the benefits of their efforts.

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Independent filmmakers are worse off with the existing systems because they are usually seen as competition and threats by the big intermediaries. Therefore, they are fought off with every force available, especially capital. Eventually, so many film productions do not make it to their target audience due to these reasons and a few more.

 

Blockchain eliminates intermediaries

Blockchain is a technology that does well in empowering everyone on an individual level. As a matter of fact, one of the celebrated properties of blockchain technology is its ability to eliminate the need for intermediaries. These intermediaries usually represent avenues of increased cost and most often, unhealthy internal politics in industries where they are prominent. Systems built on the blockchain allow for balanced participation and equal opportunities for all participants.

The StreamSpace project which decentralizes the processes involved in film production practically revolves around the elimination of these intermediaries, plus other inherent benefits of blockchain technology upon which it is built. The project makes it easier for both content creators and viewers to achieve maximum satisfaction at reduced cost. This proprietary and patented method of parsing large files and storing them in highly distributed servers guarantees an easy and decentralized reach to global audiences.

 

Traditional systems are limited

Traditional film distribution systems function within the limits of the capacity of existing producers, publishers and distributors. This system does not only cut out a huge chunk of the global audience from accessing film content, it also has a direct negative effect on revenue generation on the side of filmmakers.

Recent innovations reveal improvements from the old methods. Platforms like Netflix and Hulu that offer viewers the opportunity to stream video content rather than traditional cable subscription services are finding extended adoption, especially by the younger generation. These system offer increased flexibility and control to viewers. However, their centralized nature still leaves room for improvement.

 

Blockchain’s essential properties

Blockchain technology is celebrated for its fundamental properties that seem to be very adaptable to any industry where data and transactions are essential. Security, transparency, accountability, control and other properties of the blockchain present it as an emerging darling of the film industry. For both content creators and viewers, the benefits promised by this technology suggests imminent disruption as already introduced by StreamSpace.

Being able to stream content based on choice and unique timing is a convenient practice that is welcome by the viewers community. By using the platform’s underlying tokens, users can pay for content directly to the owner to gain viewership access at their convenience. This process also assures the originality of content due to the security features of blockchain technology, hence a substantive solution to the piracy problem which has plagued the industry for a very long time.

 

Crowdfunding and revenue sharing

Working capital has presented itself as a major problem in the filmmaking industry, especially when it comes to independent filmmakers. This is one of the areas where intermediaries who serve majorly as service providers has found relevance, thereby calling the shots in the industry. These platforms offers the community effective blockchain powered crowdfunding opportunities. With an Ethereum-based smart contract, potential viewers and investors can contribute to film projects in anticipation of a percentage of the revenue generated in the long run. The transparency and immutability of the distributed blockchain ledger ensures proper project accountability.

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