Blockchain within the Media Industry
This business model is a combination of three of the most popular use-cases for: data analytics, smart contracts and rights management.
ImageRights International, for example, uses blockchain to instantly and indelibly link photographers’ images the registration number given to them by the US Copyright Office, allowing them to quickly detect and claim compensation for unauthorised use.
Music rights management platform Blokur has a similar raison d’etre, using blockchain to ensure that artists are paid promptly and fairly when their work is used by third-parties. The platform boasts major music labels including Universal, Warner and BMG, as well as 50,000 songwriters and 7,000 music publishers. Looking at the AdLedger Consortium; “a nonprofit research and development consortium charged with implementing global technical standards and solutions for the digital media and blockchain industries”. We could say that luminaries as Publicis Media, Salon Media, Meredith, groupM and Omnicom Group, belonging to this consortium indicate that the media sector is taking the potential growth of blockchain within the industry as a serious matter.