Does anyone watch adverts anymore? Your remote control is in your hands, ready to flick channels. Or it’s a good opportunity for a bathroom break, or to make a sandwich. Or, more likely, you’ve recorded the show so you can simply fast-forward through the ads and run straight through to the rest of your favourite show.
These days, you’re just as likely to be watching online, where your Adblocker will restrict whatever pop up the platform wants you to watch, or you’re on a paid service such as Netflix or Amazon where there are no adverts to interrupt your viewing pleasure.
This is why Vuulr matters to film & TV fans. If content can be acquired more effortlessly, consumers will gain better content in the end. #blockchain #broadcast #marketplace #supplychain https://t.co/EyLUk8245u
— Vuulr (@Vuulr_Official) April 26, 2018
This is all very well, but networks need to make money to buy in those expensive fantasy epic TV shows we can’t get enough of. And so they are moving increasingly towards sponsorship. Now your favourite show is brought to you in association with some wine or other.
Buying the programmes in from the content producers and/or distributers is a time consuming and expensive business. Linking up with sponsors is just as cumbersome. Out of the $240 billion spent yearly on content, around 35 to 40% is spent on middlemen, lawyers and administration. And these deals take months to finalise, and must be repeated for each territory on the planet. It’s high time that the television industry commences the modernisation of its practices, or it will be in danger of collapsing under its own red tape and costs.
The solution is close at hand. Vuulr, a new blockchain based platform is bringing the television content acquisitions market into the 21st century. Vuulr will bring content owners, buyers and sponsors together on the Vuulr Marketplace. Deals that currently take months to broker can be finalised in hours using the set of industry standard tools provided by Vuulr on its ecosystem.
Vuulr is using the Ethereum Blockchain to host its Supply Chain model, which has the potential to become the industry standard. The blockchain has many advantages. It acts as a ready-made leger system, so deals are recorded on the blockchain in the form of a smart contract. This eliminates the paper intensive, lawyer-heavy model currently employed in the TV world. Through the blockchain, Vuulr will implement the industry-accepted MovieLabs Digital Distribution Framework.
For sponsors, the Vuulr Marketplace will simplify the process of finding partnership opportunities. Being able to search content effectively, view clips and previews and directly contact other stakeholders through the platform will save time and money. Deals can be negotiated directly, globally and expediently. The final result is then on the Blockchain as a smart contract, legally sound and enforceable.
Vuulr has already attracted plaudits for its innovative approach to the industry. And it’s easy to see why. Vuulr’s trimming of the flabby midriff of the television industry is much needed and creates the ideal scenario: a win-win for content makers, distributors, networks and other platforms, sponsors, and viewers themselves.