A brand new startup claims that blockchain know-how and cryptocurrency can save motion pictures from on-line piracy, however is that this life like?
There are plenty of banes that the movie business has to deal with, comparable to adverse opinions, diva actors, and spoilers. Nonetheless, one of many largest thorns is the large quantity of on-line piracy of flicks which can be presently enjoying within the theater or simply not too long ago left.
TaTaTu, a brand new blockchain-based platform co-founded by Hollywood producer Andrea Lervolino, goals to assist motion pictures battle in opposition to on-line piracy, however can the blockchain and cryptocurrency reach such an endeavor?
Prices of On-line Piracy
A research completed by Digital TV Analysis states that the movie and TV business misplaced $6.7 billion USD to on-line piracy in 2010 and that this quantity will balloon as much as $52 billion in 2022.
Some further information is fairly sobering. In accordance with Statista, 24% of shoppers within the US have pirated a film that was nonetheless being proven in theaters. This proportion climbs as much as 48% after a film has left the field workplace. Essentially the most pirated flick of 2016 was Deadpool, the smash hit starring the merc-with-a-mouth.
Lervolino says that the present mode of forcing finish shoppers to pay for content material helps create the marketplace for unlawful streaming and downloading. The result’s much less income for the content material creator. Her answer, by way of TaTaTu, is to offer free content material whereas monetizing the complete content material of the platform. She states:
TaTaTu is listening to and adapting – giving free entry to content material and going a step additional to reward customers with an computerized monetization system. And, rights holders can lastly cease caring about piracy. They are going to monetize every bit of content material primarily based on the efficient consumption and actual views, with clear and real-time monetary reporting with their IP recorded on the Blockchain.
Will This Assist Films?
The TaTaTu platform will use ERC-20 tokens to reward customers for viewing and sharing content material. Advertisers must purchase stated tokens to push their wares on the platform, and Lervolino touts the transparency of the blockchain regarding the consumption of the content material.
Whereas very attention-grabbing in concept, will such a platform assist motion pictures resolve the issue of on-line piracy in follow? To be trustworthy, there are a number of strikes in opposition to such an answer.
First, the platform solely has 250 hours of content material presently obtainable. That’s not a lot when in comparison with different platforms, comparable to Netflix, Hulu, and even YouTube. Folks will go to the place content material and high quality may be discovered.