Blockchain in Media and Entertainment Market Size, Share, Growth and Impact of War

Market Highlights

Blockchain is a distributed ledger technology which makes use of contracts for conducting various transactions. The need to protect intellectual property and the possible applications for distribution, consumption, and production of content can favor the market prospects. The global blockchain in media and entertainment market report by Market Research Future (MRFR) contains insights and hurdles for content producers for the period of 2018 to 2024 (forecast period). The COVID-19 pandemic and its impact on the industry are explored in the report.

Market Scope

The global market for blockchain in media and entertainment is estimated to reach USD 1.54 billion by 2024. It can score a 32.94% CAGR during the forecast period. The adoption of the blockchain technology by media and entertainment companies for streamlining of various business processes is likely to drive market growth. Rise of content privacy, royalty payments, and intellectual property disputes can influence its integration in the media and entertainment industry as well.

How will blockchain technology streamline royalty payments? On a blockchain-based platform, artists can upload original works, self-publish, control licensing options, and manage distributions. Royalty payments can be programmed into a smart contract for every piece of content and can be automatically paid out to the creator upon usage. How will blockchain technology create new pricing options for paid content? At the moment, customers pay content aggregators to access advertising and media like YouTube, Hulu, Tidal, Amazon Prime, and Netflix. As customers are bombarded with streaming service overload, an opportunity for pay-per-use consumption-based models presents itself. Blockchain technology has the ability to log an intricate record of media usage data and enables efficient micropayment pricing models.

However, hesitation by media companies, risks in blockchain, and interoperability issues can hamper the market growth.

Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/8072

Segmentation:

By type, the market has been segmented into public, private, and consortium.

By platform, the market has been segmented into Bitcoin, Ripple, Ethereum, R3 Corda, Hyperledger, MultiChain, and others.

By organization size, the market has been segmented into large enterprises and SMEs.

By application, the market has been segmented into smart contracts, payments, royalty distribution, content security, license & rights management, digital advertising, online gaming, and others.

Regional Analysis

North America is expected to have the largest market size in the global blockchain in media, entertainment, and advertising market, while APAC is expected to grow at the highest CAGR during the forecast period. The North American region has witnessed increased investments in the blockchain in media, advertising, and entertainment market. In the region, the blockchain technologies are effectively used in media, entertainment, and advertising vertical for various applications, such as licensing and rights management, digital advertising, smart contracts, content security, online gaming, and payments.

There are several blockchain applications across the advertising & media industry. Here are some of the top use cases that ConsenSys has identified:

• Peer-to-peer sales and content distribution

• Streamlined royalty payments

• Usage-based billing models

Competitive Outlook

Accenture PLC, Factom Inc., Nyiax Inc., Amazon Web Services, ClearCoin, GuardTime, Voise, Infosys Limited, Bitfury USA Inc., Auxesis Group, SAP SE, MetaX, Oracle Corporation, BTL Group, IBM Corporation, and Microsoft Corporation are key players in the global blockchain in media and entertainment market.

Browse Complete Report @ https://www.marketresearchfuture.com/reports/blockchain-media-entertainment-market-8072

Blockchain in Media and Entertainment Market: by Type (Public, Private, Consortium), by Platform (Bitcoin, Ripple, Ethereum, R3 Corda, Hyperledger, MultiChain and others), by Organization Size (Large Enterprises and SMEs), by Application (Content Security, License & Rights Management, Smart Contracts, Payments, Digital Advertising, Royalty Distribution, Online Gaming and others), by Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2024

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.