The music and entertainment industry has been facing continued disruptions as streaming platforms have gained popularity. However, the problem with such platforms is that they don’t compensate the creators well despite being globally accessible. Now blockchain’s decentralized nature has emerged as a disruptor. As such, blockchain has dismantled media and entertainment industry. Through its forgery-resistant attributes, blockchain has created a fair and transparent system.
Disrupting the Entertainment Sector
Various producers and music artists have come together to build a streaming platform that is committed to resolving two major issues that currently plague the entertainment sector. These two problems are exorbitant prices for consumers and lack of fairness. Blockchain would stream live events from all areas of entertainment, which would solve these issues. This would democratize the entertainment industry.
Decentralized Media and Entertainment Industry
Innovative developments in the blockchain sector have helped in the decentralization of the entertainment sector. A careful blockchain analysis would prove this would provide various benefits to them who are part of the entertainment industry. Although blockchain might not get officially adopted by the mainstream entertainment industry anytime soon, Blockchain has dismantled media and entertainment industry.
The blockchain magazine has reported that some of the revolutionary distribution companies have already begun adopting the blockchain technology. The fact that blockchain has dismantled media and entertainment has also motivated innovators to develop platforms that can pave the way for its full future potential. With further developments, creators and contributors may finally begin to receive the compensation that they rightly deserve for their content.