First there was social media. That broke down some of the barriers created by a bottleneck called ‘gatekeepers.’
Content providers could simply produce their content on social media like YouTube and generate revenue for themselves through YouTube’s Partnership program.
Then, the gatekeepers figured out a way to get a hold of these platforms, through demonization of YouTube content providers that scared off advertisers (see Wall Street’s hit piece on Pewdiepie).
In addition to that, the gatekeepers are now the owners and managers of these social media platforms, and they’re using their power to cut off, in various ways, the independent, non-gatekeeper-approved content creator.
But now, blockchain has arrived, and it is creating multiple opportunities for content creators to find new platforms for producing content and new ways to get paid for the content they produce.
Decentralized platforms have created an extra layer of protection between the independent content creator and the gatekeepers. They protect them from censorship and from having their source of revenue cut off from them.
YouTube, Twitter, and Facebook have decided it’s time to clamp down on independent content providers, and the market has responded with blockchain alternatives like Steemit and DTube.
|How Blockchain Can Transform The Future Of Entertainment|
……..Until recently, it was impossible to put out music without getting a record deal and relying on a label to record, distribute, and monetize your music as an artist. The same was true in film and television: You could not distribute a movie or TV show without studios and production companies throwing their weight behind you, and movie theaters or cable channels agreeing to showcase your creation.
While the internet has now democratized content creation and distribution in entertainment and creatives no longer have to get in bed with the likes of Interscope or Disney, a new crop of middlemen have emerged in digital content. Today, users rely on platforms to consume music and video content. Platforms like YouTube (1.5 billion users), SoundCloud (175 million), Spotify (140 million) and Netflix (~110 million) control user consumption across the globe and act as the new distributors, responsible for both collecting subscription and ad revenues and divvying up payments to artists……
By offering a digital public database that stores an ongoing record of transactions, the blockchain has given companies the ability to have completely encrypted records of ownership, as well as execute smart contracts (i.e. automatically enforce the exchange of anything of value without the need for a middleman). There are currently several attempts to create blockchain-based companies and currencies of relevance to media and entertainment. When applied to media consumption this technology solves the problems surrounding content access, distribution and compensation; managing assets and digital rights; and financing, among others.
Arguably the main problem blockchain has solved, at least when it comes to content consumption, is micropayments. While platforms such as Patreon are focused on helping creators raise money from their fans, these platforms are still in the middle as a facilitating platform. The use of cryptocurrencies helps eliminate any and all middlemen by securing payment and reducing transaction costs, freeing up a greater portion of each sale for the creator…….
|Read More at Forbes.com|