The COVID-19 pandemic necessitated a fundamental, global shift across the streaming media and entertainment industries, with mass consumption and live streaming here to stay. Companies are also looking for better ways to monetize their content for everything from live events/shows to the creation of NFTs and digital collectables. Unfortunately, today’s streaming video experiences, particularly live streaming, are still largely defined and hampered by yesterday’s technologies—built on traditional CDNs, with several services knitted together on public clouds, and video technologies that are bespoke and multi-stage—making it difficult to repurpose, remonetize or reuse any content.
The industry is ready for a change and in need of higher-quality video experiences that are dynamic and re-monetizable, and give the monetization control to the content owner/publisher. This change necessitates solutions that address critical technical challenges in delivering ultra-low latency, high quality media distribution and monetization with maximum scalability, particularly for live streaming. Fortunately, advancements in owner-controlled distribution include built-in rights and monetization, enabled by blockchain. Blockchain-backed contracts control all access and rights to remove layers of antiquated technologies from the experience and replace it with new innovations. It can provide lower-latency, owner-controlled content distribution through highly customizable event sites and digital experiences for fan engagement, dynamic personalization, digital collectible/NFT creation and merchandising, and more. Content can be automatically recorded and reusable on demand, and it can be refashioned and remonetized to support new events, creative collaborations, sponsorships, and availability windows.
Moving forward, we’re confident the Alliance and its members can help propel the industry forward to make steaming video higher quality and scalable, and provide premium streaming experiences that are owner-controlled, with built-in rights and continuous monetization, enabled by blockchain.
