Sunny Dhillon is a partner at Signia Venture Partners, an $85 million venture fund in San Francisco. Follow on Twitter: @SunDhillon Hollywood and the music industry have traditionally controlled access and distribution. (Credit: FREDERIC J. BROWN/AFP/Getty Images) Although blockchain technology remains far from mainstream adoption, it is poised to change the status quo in a wide range of fields.
In this article, I want to focus on one industry that could be particularly positioned for disruption – entertainment. The State of Content Creation and Consumption Arguably more so than any other industry, entertainment has a gatekeeper problem.
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. This amount of control favors the major labels and streaming platforms, and has led to disputes around artist compensation and treatment, most famously Taylor Swift vs. Apple Music and Spotify. Read more from forbes.com…
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