“Is blockchain technology a game changer?” – an exclusive presentation by globally renowned expert Manuel Badel on KYIV MEDIA WEEK

9 August 2019, 18:43

Blockchain, artificial intelligence (AI), and machine learning are the new hot topics for all tech-driven markets. As technologies move forward the digital transformation shapes the media industry as well, changing the way the business is done. 

For the first time, in the course of  KYIV MEDIA WEEK 2019 the new Technological section was designed to highlight the challenges that emerged due to the market digitalization and introduce the new approaches that might be the answer to many industry’s burning issues. To exclusively represent this section the best experts from many digital fields are invited to share their insights into the cutting-edge technologies, their functionality and application.

One of the topics that generates interest and enthusiasm, while simultaneously raising questions and doubtsis ablockchain. It has recently been on the top of minds, many predicted to revolutionize creative industries’ landscape by introducing the new ways to improve efficiency, profitability and transparency of business transactions. This technology might also be a smart solutionwhen it comes to project funding, content distribution and monetization. We must also consider its potential to improve data security and advertising efficiency by optimizing the advertising expenses.

Unfortunately, there is a lack of the technology understanding and the way it can be applied to the Ukrainian market reality. For that reason,  KYIV MEDIA WEEK organizers invited Manuel BadelBadel Media CEO – globally renowned expert in financing, production, and business models in the digital media industry to introduce blockchain technology basics, its instruments and opportunities that it might give. As a CIO Certified Blockchain Professional, he frequently participates in discussions concerning the potential connections between blockchains and the creative industries worldwide.  With a degree in finance, marketing, and electronic commerce from HEC Montréal, and project management training from McGill University, Badel has been a consultant and manager with Telefilm Canada, associate director of program administration for the CMF, and director of film and television tax credits at the SODEC.

His presentation is based on his recent research projectundertaken by Telefilm Canada, the Canada Media Fund, and Badel Media, in collaboration with the Pôlemédias HEC Montréal. It is the first study conducted in the Canadian media industry, also with a global and international scope, dedicated to blockchains and their potential impact on the film, television, and digital media sectors.

During his presentation he is going to dive into technology fundamentals and explain in detail how it can help content industry to overcome main challenges, by progressive integration of blockchain into all the key operational issues.  

The content consumption has dramatically changed in just a few years and continues to do so. The development of platforms, pay-as-you-go services and life steaming has made a huge impact on distributors, prodcos, traditional broadcasters funding and their revenue models, as well as on creators and the creative process. Thus, the industry players are in search of new effective business models to be applied.The potential of cryptocurrency and digital tokens, that can be connected to a blockchain, offer some entirely new opportunities with regard to microtransactions, from fundraising to project monetization and royalty payments.

Besides, blockchains can work well in authentication and intellectual property protecting field

Manuel Badel will make an overview of concrete experimentations with blockchain in film, TV and Digital Media and other industries around the world. For example, it offers increased protection against piracyand identification of fraud and theft. Thanks to traceability of transactions related to their product, creators could work in a more transparent and integrated manner. Such traceability could open up a possibility of royalties’ direct payment to rightsholders in real time, but more importantly, could also facilitate the overall management of income distribution. As to the broadcasters, some of them are trying to incorporate the technology into their platforms: content streaming, content acquisition, data privacy, advertising. 

“Technology has no borders, but the development of tokens or cryptocurrency-based applications will be very dependent on monetary and legal regulations in force in each country. It is also certain that the administrative organization of a country, its industrial actors and structures, and its openness will have an impact on the interest for, the opportunities of application, and the adoption of the blockchain.” – Manuel Badel says.

The speaker will also introduce the startups and applications, based on blockchain technology, which could be relevant to our market’s needs, including:

1) IP protection, rights management and reporting; 

2) New business models for content through the concept of Tokenization and communities. 

Among those are content distribution platforms utilizing a blockchain video-on-demand (BVOD) distribution model, that doesn’t require invoicing and royalty reporting – all content is certified, licensing terms are defined, and distribution of the video is scheduled according to the parameters selected. Another idea of technology utilization is connected with financing and monetization in film industry, where blockchains are set to help independent film producers fund their films by collecting revenues and automatically distributing them to stakeholders. One more example is related to fundraising – a biographical film project is seeking to raise about three-quarters of an estimated production budget of US$40M by issuing digital tokens. This case is even more interesting since it is the first with a large budget, thereby moving blockchain testing beyond the small-budget independent film niche.

Blockchains and the great promise of what they can do, certainly generate interest both on the local markets and worldwide. 

Speaking about the blockchains utilization in Ukrainian media industry, Manuel Badel mentioned: “Blockchain could be helpful for the Ukrainian media industry in terms of: IP protection and rights management, co-production and distribution (transparency, traceability, automation), financing and monetization (tokenization).”

Blockchains could be a relevant solution for many of industry’s burning issues. But would it be able to make the revolution in content production and distribution by giving the ones, who are outside the film business opportunity to invest in their favorite shows? 

Could blockchain-based applications replace streaming services like Netflix or Amazon?

Join the KMW Technological section to discover more about blockchain technologies during Manuel Badel’s presentation “Is blockchain technology a game changer?”. 

It will take place September 16, at 12:00 (London Conference Hall).

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