Blockchain to shift media industry power | ITWeb

The Deloitte report details how blockchain technology will provide new pricing options for paid content, as consumers increasingly demand an individual, customised content experience, as evidenced by the success of music and video streaming services.

“While transaction costs have made it difficult to market low-priced content items or small bundles competitively and profitably, blockchain-enabled micro-payments can help publishers to monetise this flexibility-seeking group of customers. With the help of a blockchain, individual articles or other pieces of content could be sold for cent-prices without disproportionate transaction costs,” Casey says.

According to the report, blockchain will allow consumption of paid content without boundaries, which will tackle a common consumer complaint: the inability to access the content they subscribed to when in another country or region on business or on holiday.

“Blockchain has the potential to make digital rights management systems obsolete, or at least to reduce their complexity, because every transaction or act of consumption is tracked in the blockchain and directly linked to a user. The payment will be automatically initiated according to the underlying smart contract terms for the content,” notes the report.

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Blockchain to shift media industry power | ITWeb.