Blockchain in Media and Entertainment Market Insights

Blockchain technology has the potential to transform how media and entertainment contents are created, delivered, consumed and protected. For instance, Blockchain can help to reduce piracy of intellectual property and protect content creators through identity verification , creation of more flexible license models and ensuring the retention of ownership of digital assets.

In the media industry, blockchain technology can help streamline royalty payment, usage-based payment, micropayment and even create new revenue streams. It can also help to effectively track IP across multiple channels and enhance transparency 2, automation and security in royalty distribution. These applications bring significant opportunities not only to content creators but also to the audience in maintaining privacy and more control over their data.

According to MRFR analysis, the global Blockchain in Media Advertising and Entertainment Market 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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