Blockchain Technology Media, Advertising & Entertainment Market is expected to reach US$ XX Mn by 2026 at a CAGR of XX% during the forecast period. Global entertainment and media industry, currently worth at the US $2 trillion are being transformed substantially by the digital technologies in the areas of content production and distribution. Blockchain technology being one of these prominent technologies has the potential to overhaul the market framework and resolve many impending challenges by connecting various stakeholders e.g. authors, musicians, videographers directly with consumers in a way enhancing the efficiency tremendously. The key driving forces like rising demand for eliminating intermediaries between content creators and end-users, increasing instances of data piracy in the media, entertainment, and advertising verticals, and the growing need for secure and faster transactions are fuelling the adoption and usage of Blockchain Technology Media, Advertising & Entertainment Market industry. The opportunity goes beyond simply enforcing payment for content. The technology could also help in identifying and managing digital rights more effectively and be monitoring that appropriate compensation is paid to the right artists and content owner. In an entertainment industry which is generally insensitive towards the rightful remuneration of artists and technicians, blockchain technology could certainly bring a sigh of relief.
The Blockchain Technology Media, Advertising & Entertainment Market can be segmented into Provider, Application, Enterprise Size, and Regions. By providers, the application providers segment is expected to grow at the highest CAGR during the forecast period. Application providers help media vendors to reduce the costs associated with contractual agreements and distribution of profits, eliminate intermediaries, and decrease manual processes. The blockchain technology provides real-time payments against assets with an immutable state and digital identity, thereby resulting in 40–80% reduction in transaction costs, thus making payment application the leading segment amongst others. This technology eliminates the need for intermediaries and subsequently reduces the administrative costs and time for the providers and payers. In the case of enterprises, increasing demand for the integration of blockchain technology-powered solutions in media, entertainment, and advertising verticals is expected to propel the Small and Medium-sized Enterprises (SMEs) segment in the market. North America region, owing to increased investments in blockchain technology and prevalence of key players in the region is expected to have the largest market size in blockchain media, entertainment, and advertising market, while APAC is expected to grow at the highest CAGR during forecast period – rapidly developing economies and growing appetite for the entertainment being the apparent reasons. Major players in the Blockchain Technology Media, Advertising & Entertainment Market are IBM (US), Microsoft (US), SAP (Germany), Accenture (Ireland), AWS (US), Oracle (US), Digital Currency Group (US), Guardtime (Estonia) and Brainboy (Germany). Production capacity expansion, brand portfolio expansion, mergers, collaborations, and acquisitions are the key strategies adopted by these industry players. Recently, Mediaocean, the foundational software provider of the advertising world, and IBM iX, one of the world’s largest digital agencies and global business design partners announced the launch of a blockchain consortium for the digital media supply chain. It will bring together some of the world’s largest advertisers, agencies and publishers, including Kellogg, Kimberly-Clark, Pfizer, Unilever, and IBM Watson Advertising. The solution aims to provide transparency and build trust and accountability in the advertising ecosystem. The scope of the Report By Providers • Application • Middleware • Infrastructure By Application • Licensing & Rights Management • Digital Advertising • Smart Contracts • Content Security • Online Gaming • Payments By Enterprise Size • Small and Medium-sized Enterprises (SMEs) • Large Enterprises By Region • North America • Europe • Asia Pacific (APAC) • Middle East and Africa (MEA) • Latin America Key Players: • IBM • Microsoft • SAP • Accenture • AWS • Oracle • Digital Currency Group • Bitfury Group • Factom • Guardtime • BRAINBOY • ARK • Auxesis • Synereo • NYIAX • MetaX • BTL • Voise • UJo • BigchainDb • Bloq • Clearcoin • iProdoos • Current • Decent
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Report Published by: Maximize Market Research
