Content streaming on Blockchain?
It’s apparent that in this day and age, streaming content is exceptionally common. Long gone are the days of VCR. Do we really use DVDs and Blu Ray as much as we did in this last year or so? I’m not so sure. Either way, streaming is definitely overtaking cable television and is now the primary way in which people are watching videos and movies. It’s said that an incredible 61% of millenials 18-29 use online streaming to watch television vs 31% who use satellite in the US (*1) - nearly double! This movement appears to not only just be in the US but all over the world. Ofcom’s report found that the viewing of on-demand TV on different devices; whether on BBC iPlayer, ITV Player, or Amazon, it is becoming increasingly popular. Especially over the years and with younger audiences. Companies are using blockchain to take this ‘streaming world’ to the next level by trying to change the way they distribute their videos and educational sources, a massive step for businesses in this area!
So are there actually any real benefits of streaming content?
One massive factor in streaming that has always been hard to maintain is monetisation. Different platforms like Limewire (despite it’s exceptional flow of viruses) that enabled piracy, now means that more modern platforms such as Netflix and Amazon have to charge their consumers to a monthly fee to access all of their online content. That’s great and means that no piracy takes places, yes but not so good for regular users. Why? Well, in the end these people tend to watch the shows little and often. Maybe just when they feel like it, yet still pay the money needed to keep their monthly fee going - great for Netflix. Streaming wise, this doesn’t do much for the content providers, meaning that they take down their content much to the detriment of the more ‘heavy Netflix users’ who are no longer able to access their favourite shows. This then results in older platforms like Youtube being used but even then, they too have implemented rules as part of the Monetising Partner Programme (*3) which makes it even harder for people, companies and productions to make money and keep the cycle going successfully.
There really is a promising future for industries like the streaming content market and many others out there, so it’s really not all doom and gloom, do please don’t lose hope. This comes in the form of Blockchain which in effect take away the ‘middleman’ of streaming providers such as Netflix and Youtube. This means that content providers are able to be more in control of their ‘package’, company as a whole and finances; using direct transaction ledger details to offer content directly to customers. This use of blockchain enables the exchange of payments and content to move much more swiftly and easily. They cut out any unnecessary third-party bodies, whilst providing higher profit, revenue and certainly more compliance and consistency for the consumers.
Marketplaces, streaming and blockchain
There are quite a few market places that are particularly underused by existing streaming platforms and are certainly about ready for a blockchain makeover. ‘Personal development’ is certainly one of these and now the key to many modern day lifestyles, bloggers and instagram stars that we are greeting us online. Earlier in this article, we stated that the millenial age group of 18-29 yrs were the group that tend to use online streaming to watch TV the most. Well, it’s exactly the same when it comes to this type of lifestyle and as mentioned earlier, that why marketplaces like ‘personal development’ and companies that fall into this area are booming!
Companies who are thriving from this explosion in the modern world and they are using it to their advantage. Some, like SuccessLife are starting to launch a blockchain-based streaming content market within this popular personal development industry for all to use. It’s a bold, brave and brilliant move and a ‘crypto venture’ that has been developed from people such as Tony Robbins and Richard Branson. (*5) Event topics have included personal finance, entrepreneurship, time management, investment strategies, and many other personal and professional skills. Themes that appear to be hugely common in today’s society and prevalent in our millennial market.
Websites like SuccessLife include the use of ‘SLT’s or ‘tokens.’ They can then be used to stream media and provide the consumer with content whilst also sorting out financial exchanges. This unique ‘token’ is a clever way to guard against piracy and also enables sites and content providers to ensure that their material and hard work is distributed accordingly and fairly. As much of a change as the transition to SLT’s are, it really is a big help to creators and creatives in finally getting proper profits and the credit that they deserve for their hard work and expertise.
All in all, by using streaming content on blockchain we are onto a movement to a successful and bright future; more so for our Millennial audiences. These audiences in particular are extremely engaged and it’s crucial that we move with the times in order to keep things progressing. Time will tell whether this is the step to the future but either way, interest in both areas and trying never hurt anyone before right? Why now join this brave and bold movement - it doesn’t just have to be the millenials you know!
(*2) OfComs Report
(*3) YouTube Monetising Programme
(*4) Success Life