Entertainment as a medium is changing. The future of television is doubtful as digital streaming services like Netflix, Amazon Prime, Hotstar, etc. are gradually clouding the media space, not just in western markets but also in India. Affordable internet services and the ever decreasing priced of smartphone and tablets are one major reason for the gradual shift in the way we consume entertainment media.
While digital streaming services are flexible and offer better customized viewing experience, they also act as content gatekeepers for fresh content. These services in a way dominate over the content industry. They refine and pre-select what is available to the audience based on their viewership. These big houses add yet another barrier preventing consumers from accessing the content they wish to access. In most of the cases, end users only see one side of the coin. Consequently, content-makers currently have no source to interact with their fans and critics alike. This also fails the purpose to motivate viewers to promote their content passionately among their networks.
Now imagine a scenario where the end user is at the center of the content creation and delivery. He/she has the power to decide the content in addition to the medium on which he/she is consuming the same.
To evaluate this predicament, LiveTree's film, TV and content business was established two years ago. LiveTree presents a new vision for the film and TV industry that uses blockchain technology to give power back to creators and viewers. As per the team, LiveTree has already captured 5% of the UK entertainment crowdfunding market ($1bn global market). LiveTree It is said to be the next generation entertainment built on experience from their proven successful business.
The new platform, ADEPT, goes beyond crowdfunding and employs the blockchain to lower fees, eliminate costly contracts and introduces world's premier end-to-end, distribution platform ($500bn global market). Over the last two years LiveTree has established numerous high-profile partners including Red Rock Entertainment, The British Film Institute, Film London and Screen Arts Institute, and 14,000 industry suppliers worldwide.
ADEPT is a not only a solution but also a response to this constraining, unsustainable and blocked creative economy. The platform represents an alternative prospect for the entertainment industry - one in which the creative and commercial skills needed to produce, market and distribute content work in its favour and synergy. It allows creatives to produce within the safety net of a consumer-centric approach to delivery and investment. It gives distributors access to a plethora of premium new content, and backers more choice regarding what and how they invest in content. In short, the new platform represents a step-change in our approach to creativity and the structure of the $500bn global business that supports it.
As per the company, LiveTree ADEPT is set to disrupt the $500bn entertainment industry using blockchain technology to empower fans and film makers through various features, one of them being Digital Rights Management. Owning and sharing video intellectual property will be moved to the blockchain. This opens opportunities for the general public to own what it watches and earns from profits derived from exploiting content distribution, e.g. from subscriptions, pay-per-view, and advertising.
New digital channel Blossom TV will be the destination for this community-powered content. It Blossom TV provides a direct, peer-to-peer connection among content creators and viewers. Scoring and sharing content is promoted and tracked through Blossom digital rights management (DRM) and compensated in Seed. Blossom provides viewers an entirely new interactive experience. It is envisioned that consumers will be able to cast and choose what gets made in a fully interactive fashion.
Legal contracts involved in the production, financing, and distribution of film, TV and content are often viewed as a burdensome and costly overhead. ADEPT replaces these contracts with blockchain based "smart contracts. This is said to reduce costs and foster fan community gamification.
LiveTree is said to present professional content producers transparent viewing statistics, simple digital rights management and gamification. It also empowers the consumer to Seed their choice of what gets made at the content side. They get to determine who stars in the next episode, film or content, what gets funded and are ultimately rewarded for scoring and promoting the project in Seed.
What multinational, big houses could not do is being put into practice by Livetree. Content makers and individual investors get access to resources with ample opportunity to leverage them and moderate their experience. Livetree's token sale is live on company's official website.
It might sound vague and new, but that's how things had and will be in the world of technology. Stay tuned on Gizbot for more updates on Blockchain, which has been shown as a driving force in entertainment industry by LiveTree ADEPT.