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The model can also support free interaction and involvement among film industries in different countries, bypassing intermediaries and only understanding creators and consumers
December
3, 2018
5 minutes of reading
Opinions expressed by Business owner the contributors are theirs
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The Dharamshala International Film Festival ended recently and has had an eclectic collection of some of the most refreshing works produced around the world and in India. From Devashish Makhija & # 39; s Bhonsle to the absolutely insane, "Ghode Ko Jalebi Khilane Le Ja Riya Hoon" by Anamika Haksar, was a great celebration of innovative cinema in the mountains. However, it has been possible to listen to a constant refrain among the participants on how we can really spread the growing enthusiastic community of the film across the country rather than being limited to a few pockets in some states.
Worldwide in just a few minutes – social networks and content narrowing Engagement Cycles
While such a utopian vision has always united filmmakers and film lovers, with modern technology, it can become a tangible reality. Access any of the social media platforms and you'll find a myriad of new content from different genres, segregated according to your tastes and validated by your peer group. The advent of social media has helped any creation to become viral in an instant, reaching millions all over the world, an unimaginable business previously. However, its main contribution is to increase the role of the community in determining the success or failure of the content. Through instant interactive options like like / share / subscribe, social media technology has allowed creators to interact with consumers in an instant and evaluate their response. However, the distribution of social media has not yet been able to solve the classic problem of the entertainment sector, ensuring a transparent and fair distribution of revenue for creators.
The archaic systems that have served the vibrant entertainment industry over the years are now at a crossroads and have probably surpassed their best date! The industry has woken up and is fighting a legion of problems; numerous intermediaries, piracy, lack of transparency, inadequate protection against the violation of intellectual property rights, involvement of black money and a long process of final liquidation of funds. The flow of information is neither credible nor timely leading to distortions on the real value of work. Furthermore, it presents an unclear understanding of the potential market for content, damaging its funding prospects. This leads to stifling innovative thinking in the long-term industry. A new infusion of alternative technology-driven operating structures, driven by new age solutions such as data analysis, machine learning and, above all, blockchain are urgently needed to ensure seamless operation of one of the most profitable industries in the country.
The next step: Blockchain and the creation of a self-sustaining holistic entertainment ecosystem
In fact, Hollywood, that older brother, Bollywood, looks for everything, has already started using blockchain, the technology behind the bitcoins to distribute the films that experts suggest is the beginning of the end of piracy. Recently, No Postage Necessary, an independent comedy about a hacker with no luck, has been distributed through an extremely advanced peer-to-peer video network. By turning the blockchain into a film distribution channel, producers have signaled a change in the way content is shared and consumed.
It is well known that the indie community has always relied on mutual support, and on a dedicated and niche audience base, to unearth truly masterly works of cinema. From the days of Ritwik Ghatak, to the movement of parallel cinema between the end of the 70s and 80s, to today's experimental filmmakers, friends and enthusiasts have always managed to achieve a cinematic vision. Technology like the blockchain adapts to this structure and gives it more scale, scope, security and transparency, and a future in which the revenues of any creation go to the legitimate owners, ie the creators. It offers great content creators the opportunity to earn more revenue from their work because the number of intermediaries and interlocutors is much lower. The small, but the substantial success of the film funded by crowdfunding in India, starting with Manthan by Shyam Benegal in 1976, shows that India has the excitement necessary to make a mass-based model based on mass and technology-based success in the entertainment industry.
Content of the People, for the People, of the People: trace the path to a truly democratic world of entertainment
With the implementation of the blockchain, film lovers from any region and from all walks of life can determine the true value of a piece of content and pay a value that everyone agrees. Furthermore, blockchain will allow consumers to be an integral and key part of the entertainment economy and not just the content "market". The authentic attribution and immutability that constitutes the backbone of the blockchain will help to shape the creative process and enable distribution to micro-niches that would have been impossible to deal with the current structures at stake. Fans who support creators will be able to guide the agenda and monetize their passion. The industry will be able to free itself from the albatross of the "first weekend" around the neck.
The model can also support free interaction and involvement among film industries in different countries, bypassing intermediaries and only understanding creators and consumers. Freeing the film community from the risk restrictions associated with large-scale budgets and in-depth control, consumer-driven distribution models can support the development of truly angular content that is not only created to generate revenue. The game will no longer be about numbers, but also about quality.
A blockchain-based cine community is in fact a Bollywood film par excellence, with decentralized, people-centered, blockchain-based applications emerging as a hero against the villains of dominant and centralized players and intermediaries. And like all Bollywood films, this biggest transformation to become a great film nation will surely end with a happy ending!
