Blockchain in Media and Entertainment Market Research Report- Forecast till 2027
Market Highlights
According to Market Research Future, the global blockchain in media andrnentertainment market has been segmented on the basis of type, platform,rnorganization size, and application.
As an emerging technology for decentralized and transactional datarnsharing, blockchain has enabled many media companies to store digital records,rnexchange digital content and implement smart contracts. Blockchain in media andrnentertainment industry can help worldwide media, advertising, and entertainmentrnorganizations to fairly distribute royalty payments with the help ofrndistributed ledger. Further, blockchain technology facilitates transparency ofrndata by providing a public ledger for all the transactions that can bernvalidated real-time. With the help of cryptography blockchain can secure allrnthe transactions eliminating the interference of any third party authority. InrnNovember 2018, New-York based media and entertainment company named LittlstarrnMedia, launched Ara, a new blockchain-based platform designed to providerncontent creators and artists more control over their content. Ara is a suite ofrnblockchain-based protocols that is designed to decentralize the ownership ofrncontent such as games, movies, music and images with the help of tokens forrnauthenticating transactions among content creators, publishers and customers.rnMoreover, an integrated blockchain-based platform reduces the content piracyrnand copyright infringements and offers effective digital rights managementrnsolutions for the media and entertainment enterprises.
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Segmentation:
By type, the market is segmented into public, private and consortium.rnAmong these, the current market is dominated by public blockchain due to beingrnopen and transparent with decentralized consensus mechanisms such as proof ofrnwork (POW) and proof of state (POS). Bitcoin and Litecoin blockchain arernexamples of popular public blockchain.
By organization-size, the market has been segmented into largernenterprises and SMEs. Among these, the market is dominated by large enterprisesrndue to a large number of applications of blockchain in large media enterprisesrnsuch as Sony Music Entertainment. The growing number of retail SMEs arernexpected to implement blockchain at a faster rate to streamline their businessrnprocesses.
By platform, the market has been segmented into Bitcoin, Ripple,rnEthereum, R3 Corda, Hyperledger, Multichain, and others. Among these thernBitcoin platform accounts for a greater share owing to its wide scale adoptionrnfollowed by Ethereum as it is an open blockchain platform letting users tornbuild and use decentralized applications running on blockchain technology.rnHyperledger platform is expected to grow at a higher rate during the forecastrnperiod owing to its rising applications.
Byrnapplication, the market has been segmented into content security, license &rnrights management, smart contracts, payments, digital advertising, royaltyrndistribution, online gaming and others. Among these, the license & rightsrnmanagement segment accounts for larger market share owing to adoption ofrnblockchain for digital rights management by large enterprises such as SonyrnMusic Entertainment to build a digital rights management system. The smartrncontracts and royalty distribution segments are expected to register a highrngrowth rate during the forecast period due to media and advertising enterprisesrnadopting blockchain for smart contracts and royalty distribution.
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Regional Analysis
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Thernmarket for global blockchain in media and entertainment is estimated to grow atrna significant rate during the forecast period from 2018 to 2027. Therngeographical analysis of blockchain in media and entertainment market has beenrnstudied for North America (the US, Canada, Mexico), Europe (the UK, Germany,rnFrance, Spain, Italy, the rest of Europe), Asia-Pacific (China, Japan, India,rnSingapore, Australia, the rest of Asia-Pacific), and the rest of the world (thernMiddle East and Africa and South America).
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Key Players
ThernProminent Players in the market of Global Blockchain in Media and Entertainmentrnmarket are – Infosys Limited, Bitfury USA Inc., Factom Inc., GuardTime,rnAS, Auxesis Group, IBM Corporation, Microsoft Corporation, SAP SE, AmazonrnWeb Services, Accenture PLC, Oracle Corporation, Nyiax Inc., MetaX, BTLrnGroup, Voise, and ClearCoin.
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Blockchain in Media and Entertainment Market: by Type (Public, Private,rnConsortium), by Platform (Bitcoin, Ripple, Ethereum, R3 Corda, Hyperledger,rnMultiChain and others), by Organization Size (Large Enterprises and SMEs), byrnApplication (Content Security, License & Rights Management, SmartrnContracts, Payments, Digital Advertising, Royalty Distribution, Online Gamingrnand others), by Region (North America, Europe, Asia-Pacific and Rest of thernWorld) - Forecast till 2027
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