Blockchain in Media and Entertainment Market Insights

Blockchain technology has several potential use cases in the media and entertainment industry. Here are some examples:

1. Reducing piracy: Blockchain technology can help track the lifecycle of any asset, including digital media like music and video, thereby reducing piracy and protecting intellectual property.

2. Streamlining royalty payments: Blockchain can enable micropayments and usage-based payments, streamlining royalty payments and making the process more efficient.

3. Providing more control for content creators: Blockchain can provide content creators with more control over their work, as well as more flexible license models and attribution.

4. Creating new revenue streams: Blockchain can open up new revenue streams for creators by enabling them to monetize their work more effectively and directly.

According to MRFR analysis, the global Blockchain in Media and Entertainment Industry is expected to register a CAGR of 52.8% from 2022 to 2030 and hold a value of over USD 11,766.5 million by 2030.

Blockchain raises to a distributed ledger technology that keeps digital assets unaltered. It has been used by several entities such as media and entertainment, automotive, aerospace and defense, textile, power and energy, food and beverage, electronics, and many others. Its usage differentiates and organizes several processes such as transactions, and warehouse management. Blockchain technology aids decrease risk, suppressing fraud, and bring transparency in a scalable way for countless uses.The growing demand for safer and faster transactions coupled with the need to eliminate intercessors between creators and users are among the factors that are among foremost factors that fuel the market growth over the estimated period. However, lack of security, data breaches, and hitches faced while integrating with old systems are among the major restrictive factors that are expected to hurdle the growth of the market in the foreseen period.

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Regional Analysis

North America holds a prominent share of the blockchain in the media & entertainment market owing to the early adoption of new technologies in all industries and the existence of major solution providers in the region.

The blockchain in the media & entertainment market in Asia Pacific is anticipated to expand the fastest during the estimated period owing to growing investment by major players to provide services across the region and also owing to the growing demand for online content in main countries such as China, Japan, and India.

Market Segmentation

The global Blockchain in Media and Entertainment Market has been segmented into Type of blockchain, Enterprise size, and application

Based on the Type Of Blockchain, The global Blockchain in Media and Entertainment Market has been segmented into Public and Private.

Based on Enterprise Size, The global Blockchain in Media and Entertainment Market has been segmented into Small and Medium-sized Enterprises (SMEs) and Large Enterprises.

Based on Application, The global Blockchain in Media and Entertainment Market has been segmented into Licensing & Rights Management, Digital Advertising, Smart Contracts, Content Security, Online Gaming, and Payments.

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Key Players

Some of the key market players are Accenture PLC, BTL Group, Voice, Infosys Limited, Factom Inc., Bitfury USA Inc., GuardTime, AS, IBM Corporation, SAP SE, Microsoft Corporation, Amazon Web Services, Oracle Corporation, Nyiax Inc., MetaX

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