Abstract
AbstractThe audiovisual media content (AMC) industry, focused on film and television drama production, is confronted with a broken business model due to the dominance of centralized streaming platforms. The top platforms dominate global distribution but only offer slices of produced and heritage content. In addition, they compete with the AMC industry by producing a majority of content distributed. This leaves fewer gatekeepers deciding on the content to be distributed and less diverse content easily accessible to audiences Consequently, audiences are compelled to engage in pirating movies despite a willingness to pay. Recent blockchain innovations towards the so-called Web3 promise to restore this broken business model by re-establishing direct contact between the producers of films and their audiences. The benefits of networks (peer-to-peer or community based) in combination with Web3 follow the principle of decentralized disintermediation while comprising elements such as FIAT to crypto-payment mechanisms, self-sovereign identity authentication, blockchain oracles, decentralized autonomous organizations (DAO), and so on. A gap exists with regard to methodological designs of Web3 decentralized applications (DApp) and their ecosystems for restoring a viable AMC business model that not only eliminates the need for piracy activities but even the need for platforms. The DApp architecture designs for the film- and media industry ecosystem creation in this paper allow, on the one hand, for a legal compliance check ahead of a costly deployment. On the other hand, the DApp designs of this paper also allow for a tailored blockchain technology stack development. Ultimately, this research is a continuation of an earlier whitepaper to establish a participatory economy in the film industry from peer-to-peer streaming.
Publisher
Research Square Platform LLC