Blockchain in Media & Entertainment Market - Introduction
- Blockchain technology provides advanced solutions & services in media & entertainment in terms of security and transparency in business operations. Blockchain technology offers a secure platform solution in funding, distribution of payments, contract enforcement, and monetization.
- In the media & entertainment industry, blockchain technology is applicable in micropayments, in the elimination of content aggregation, in royalty distribution, and the consumer-to-consumer sales process.
- Media companies and content creators are adopting blockchain technology to increase profit with a real-time content consumption-based pricing module. Blockchain technology helps to provide enhanced efficiency, transparency, trust, security, and overall control access to media content in all transaction points with its ledger approach.
- Blockchain technology is majorly used by content brokers, content creators, aggregators/platform providers, and performance right organizations to explore new market opportunities with a secure business process.
Key Drivers of the Blockchain in Media & Entertainment Market
- Increasing demand for secure online platforms for real-time pricing modules for content consumption and elimination of content aggregation is expected to drive the growth of the blockchain in media & entertainment market. Advancement in technology to enhance customer experience by providing multi-country access to digital content is expected to boost the growth of the blockchain in media & entertainment market.
- Adoption of blockchain in media & entertainment helps to automate real-time billing and real-time allocation of royalty payments, which is expected to create better business opportunities for providers of blockchain solutions in media & entertainment.
High initial set-up cost and lack of standardization expected to hinder the Blockchain in Media & Entertainment Market
- Adoption of new blockchain technologies in media & entertainment is expensive at the initial stage and blockchain technology is under development for its application in the media & entertainment industry. This may restrain the growth of the blockchain in media & entertainment market.
- Lack of standardization in blockchain technology due to the initial phase of technology development is also expected to hamper the growth of the blockchain in media & entertainment market.
Impact of COVID-19 on the Global Blockchain in Media & Entertainment Market
- Content creators and companies are expanding their geographical presence and services to capture more market share in Asia Pacific due to the increasing impact of COVID-19 on business growth. Companies are adopting the advance real-time pricing module to improve billing cycles as per content consumption, which increases the demand for the solution during lockdown conditions.
- Companies are adopting advanced technology services to provide better content services to viewers and customers with secured platforms. Increasing demand for online streaming data also increases investment by content companies to offer seamless services to consumers during the COVID-19 period.
North America to Hold Major Share of the Global Blockchain in Media & Entertainment Market
- North America holds prominent share of the blockchain in media & entertainment market due to early adoption of new technologies in all industries and owing to presence of major solution providers in the region.
- The blockchain in media & entertainment market in Asia Pacific is expected to expand the fastest during the forecast period due to increasing investment by major players to provide services across the region and also due to the increasing demand for online content in major countries such as China, Japan, and India.
Key Players Operating in the Global Blockchain in Media & Entertainment Market
- IBM Corporation
IBM Corporation is a multinational company, manufacturing and marketing products including computer hardware, middleware, and software, besides providing hosting and IT consulting services. IBM Corporation offers blockchain technology solutions for media & entertainment and advertising sectors.
- Oracle Corporation
Oracle Corporation is an information technology company, providing applications, platforms, and IT infrastructure products and services. The company operates through three business segments: Cloud and Licensing, Hardware, and Services. It offers blockchain consulting services & reengineering solutions for the media & entertainment industry.
Other key players operating in the global blockchain in media & entertainment market include Accenture PLC, Infosys Limited, Factom Inc., Auxesis Services & Technologies (P) Ltd., Microsoft Corporation, and Amazon Web Services, Inc.
Global Blockchain in Media & Entertainment Market: Research Scope
Global Blockchain in Media & Entertainment Market, by Deployment
- Cloud Based
Global Blockchain in Media & Entertainment Market, by Application
- Micropayments for Content
- Content Aggregation
- Royalty Distribution
- Consumer-to-Consumer Sales
Global Blockchain in Media & Entertainment Market, by Enterprise Size
- Small & Medium Enterprises
- Large Enterprises
Global Blockchain in Media & Entertainment Market Segmentation, by Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
- Blockchain in Communications, Media & Entertainment
- Digital Engineering Strategies for the Media & Entertainment
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.