Vlogging, the simple art of blogging. 2005 and since then, a whole industry of people uploading content, people subscribing to view the content, and advertisers who want to reach niche audiences was born.
PewDiePie, Smosh, and KSI, among others are influential than other films in the 13-17 year old age group in the U.S.
However, this is the case with the fair share of problems. This piece looks at some of the biggest challenges in the vlogging industry and how the decentralized nature of Blockchain technology might offer.
- Vloggers may not be as influential as brands think they are
One of the way vloggers make money. Brands assumes that vloggers have an influence status commensurate with the number of their followers and / or the following information: an audience that will defer to the vlogger's recommendations / endorsements of products and services.
However, the results of a study by GlobalWebIndex reveal that followers on vlogging channels are mostly looking for entertainment and news rather than recommendations. In fact, three quarters of respondents say they are trying to get up with the latest fashion trends.
- Vlogging platform charges high fees
Secondly, vlogging platforms. YouTube, which is undoubtedly the most popular vlogging platform takes as much as possible. In fact, the price is very high.
- A monopolistic collaboration between the top vloggers and top marketing agencies
Interestingly, while top YouTubers could earn 7-digit figures from ads, promoted content, and there's a high level of income inequality among vloggers. In 2016, Bärtl revealed that the top 3 percent of channels got 90 percent of the views and 96.5 percent of YouTubers do not make enough annual income to reach the U.S. federal poverty line.
The new criteria that YouTube rolled out – in which a channel must have at least 1000 subscribers and 4,000 hours of views over the last 12 months – will also make it harder for smaller content creators in niche markets to earn revenue on their vlogging efforts .
A platform is a blockchain-powered AI platform that wants to solve some of the problems ailing the vlogging industry by improving the relationship between video, content creators, brands, and marketing agencies. Leveraging smart contracts, AQER is an intermediary-free marketplace for content creators and consumers to transact business transparently.
AQER's CEO Philippe Perotti notes that: "Not only inter-mediation in the vlogging industry accounts for 70-80 percent currently, it is also done wrong in many ways.First, prices are neither fair nor transparent. to price their content, and to take advantage of the lack of transparency between the various vloggers grants to leverage to brands.
Secondly, vloggers tend to carry huge financial burden into their operational expenses and delays into payments from brands. A smart contract can serve as a custodian for a deal and the contract is scheduled
Adeezy is another blockchain-enabled solution that serves as a marketplace for influencers and creatives to collaborate with advertisers through a transparently simple advertising process. At the core of Adeezy is a blockchain and AI powered platform designed to end the fast-rising trend of ad-fraud with doctored metrics that trick advertisers into paying for non-existent engagement. Advise also believes that a mutually beneficial relationship between advertisers, influencers, and audiences encourage more users to ditch their ad blockers.
The startup is also leveraging smart contracts to enhance trust in the traditionally "trustless" environment of the advertising industry by ensuring that no party in the advertising value chain can hold other counterparties to ransom. Using Adeezy, the efficient distribution of the advertising budget in the transaction.
Blockchain technology provides a greater degree of transparency in advertising and digital marketing. Solved with smart contracts. KPIs to ensure that none of the counter-parties feel cheated.
The decentralized nature of Blockchain technology can end the oligarchy of the giant tech and media companies. Digital media companies have too much power, they own the data and identity of consumers; and they determine the advertisers that can reach out to these customers using price control mechanisms.
More importantly, Blockchain technology will cut the time it takes for advertisers to establish relationships with their audiences by building a system of trust between creatives, influencers, ad platforms, and consumers.