Disrupting a $240bn-a-year industry is no mean feat. A establishment exists, with rules, regulations, and barriers that may prevent any newcomers from gaining a foothold in the market.
Yet, despite the exorbitant price tag, that very industry is unwieldy and disjointed. The commercial departments at major media channels may spend weeks -if not months- chasing after a TV series, movie, or any other show that may just help increase its viewership. And a lot of money and effort is lost in this protracted process, which in many cases yields no positive outcomes.
Vuulr comes in with a revolutionary idea to resolve the major issues faced by broadcasters during the content acquisition process. The concept backed is by blockchain technology and underpinned by three solid pillars defined as the Vuulr Foundation Network.
Vuulr’s Foundation Network: The pillars of success
Any monument, building, or statue needs to stand on solid foundations that withstand the test of time.
Equally, a blockchain-based platform requires the underlying support of a robust technological solution, if such platform is to outlast its competitors.
Vuulr proposes a marketplace where content creators and broadcasters can meet, strike up deals, and agree on rights, etc. The platform intends to disrupt that $240bn market through an intelligent approach to content trading.
The platform is based on the Vuulr Foundation Network, which includes three basic components:
- Content Identifier?—?the “ISBN” of TV & Film Titles
- Content Metadata?—?the data that describes the content (title, synopsis, actors, etc)
- Content Avails, or Rights?—?what is available to be traded and what has already been sold
Foundation Network explained: Content Identifier, Metadata, and Avails/Rights Management
The very survival of any broadcaster depends on the quality of the content they offer their viewers.
But regardless of the quality of the content, it has to be catalogued and filed so it can be easily identified.
Vuulr has implemented a feature called Content Identifier, which does exactly what it says on the tin really. This feature includes information about language, format, edits, and much more, in a manner much like the traditional International Standard Book Number (ISBN) cataloging standard for books.
Vuulr’s Content Identifier complies with the industry-standard set by the Entertainment Identifier Registry Association (EIDR).
Aside from the media’s title, Vuulr’s unique proposition also includes Title Metadata.
Metadata is that little snippet of information about the film’s plot, actors, etc. that you see on the screen.
This data is actually quite important, and also poses a significant degree of friction for industry players. It is important cause every broadcaster needs to display it, and in fact it is used by buyers to search for titles around the Marketplace.
The acquisition and management of metadata carries a lot of problems for broadcasters, particularly for those that work across a number of different countries, as the information needs to be translated and adapted to local customs and formats.
The Vuulr platform will simplify and enhance the way metadata is handled by:
- Allowing Title Owners to manage their Titles’ MetaData
- Generating missing MetaData via the MetaData Refinery
- Creating a single source of high quality MetaData for broadcasters and OTTs
The third piece upon which rests the Vuulr’s proposition is the Avails/Rights Management.
In essence, this feature keeps track at Title level of what material has been sold and what is still available, using parameters such as rights type, geography, and many more.
The issue of rights management is quite crucial in the context of broadcasting, due to the great diversity of rights types and their financial implications. Vuulr’s platform takes full advantage of the immutability of the blockchain to maintain an accurate registry of rights.
Vuulr has entered into a partnership with the Entertainment Merchants Association (EMA) to implement the latter’s industry-accepted specification for Avails data.
Vuul’s three pillars of content (Content Identifier, Metadata, and Avails/Rights Management) constitute the backbone of the entire proposition, providing a solid and future-proof foundation to carry Vuulr’s concept into tomorrow’s world.
Check out Vuulr’s Whitepaper for more detailed information about the Framework, and the ICO’s value proposition.
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