Global Blockchain in Media, Advertising & Entertainment Market 2019-2024: Anticipating a CAGR of 82% During the Forecast Period - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 21, 2019--
The “Blockchain in Media, Advertising, and Entertainment Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The blockchain in media, advertising, and entertainment industry is expected to register a CAGR of 82% in the forecast period.
Blockchain is disrupting not only the existing business models but is also enabling the development of new business models, especially in the media industry.
The digital technologies are substantially transforming the global media and entertainment industry, especially in the areas of content production and distribution, with blockchain being the most prominent technological disruptor. According to Accenture, 55% of media and platform executives think blockchain is a top-five priority for their company. Also, 83% of executives plan to increase blockchain investments in the next three years.
The need for blockchain in media and entertainment is increasing owing to the subsequent commoditization of content and widespread piracy of intellectual property (IP). The increasing need for eliminating intermediaries between content creators and end-users, the growing demand for secure and faster transactions, and the growing instances of data piracy in the media and entertainment, are some of the key factors driving the market.
Further, media users are accustomed to having free access to a wide variety of content, as the media and entertainment industry is a contract-based business that places a premium on the protection of intellectual property. Also, all media segments have suffered significantly from digitization, since content can be copied and distributed quickly and without loss of quality. This is because the Digital Rights Management Systems has not yet reduced copyright infringements.
With the advent of blockchain, this industry structure could change significantly. Blockchain technology permits bypassing content aggregators, platform providers, and royalty collection associations to a large extent. Thus market power shifts to the copyright owners. Blockchain technology has the potential to increase profits for content creators and media companies by providing real-time consumption-based pricing against assets with an immutable state and digital identity. This solution reduces transaction costs by 40-80%, thus making payment application the leading segment amongst others.
This technology also eliminates the need for intermediaries and subsequently reduces the administrative costs and time for the providers and payers. However, lack of standardization is hindering the growth of the market to a certain extent. Also, the process of implementing new technology is expensive and time-consuming, hence restraining market growth.
Key Market Trends
Payments Application is Expected to Dominate the Market
North America Expected to Hold the Largest Market Share
The competitive landscape of the blockchain in media, advertising, and entertainment industry is moderately concentrated as there are very few players offering blockchain solutions, especially in the media and entertainment industry. The vendors have adopted different types of strategies, such as partnerships, collaborations, and acquisitions, and new product launches, to expand their presence in the market and also increase their market share.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Subsequent Commoditization of Content and Widespread Piracy of Intellectual Property
4.3.2 The Increasing Need for Eliminating Intermediaries Between Content Creators and End-Users
4.3.3 The Growing Demand for Secure and Faster Transactions
4.4 Market Restraints
4.4.1 Lack of Standardization
4.4.2 Expensive and Time Consuming Deployment
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter’s Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Type of Blockchain
5.2 By Size of the Enterprise
5.2.1 Small and Medium Enterprises
5.2.2 Large Enterprises
5.3 By Application
5.3.1 Licensing and Rights Management
5.3.2 Digital Advertising
5.3.3 Smart Contracts
5.3.5 Online Gaming
5.3.6 Other Applications
5.4.1 North America
5.4.4 Latin America
5.4.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 IBM Corporation
6.1.2 Microsoft Corporation
6.1.3 Ernst & Young Global Limited
6.1.4 Bitfury Group Limited
6.1.5 SAP SE
6.1.7 Amazon Web Services Inc.
6.1.8 Oracle Corporation
6.1.9 Infosys Limited
6.1.10 Ujo Music
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/furjcl
View source version on businesswire.com:https://www.businesswire.com/news/home/20191121005674/en/
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INDUSTRY KEYWORD: MARKETING ADVERTISING COMMUNICATIONS
SOURCE: Research and Markets
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PUB: 11/21/2019 10:28 AM/DISC: 11/21/2019 10:27 AM