According to 2018 media and entertainment industry statistics done by Deloitte - Video On demand and content streaming will be the leading trends of the industry, this will be supported by the ability to use target advertising to generate revenue. The media and entertainment growth will be as a result of availability of affordable internet services, a wide population having internet enabled devices such as mobile phones and wireless capabilities all over the world. According to the same statistics it is estimated that almost 60% of households stream media in their homes and the new generation love streaming content with almost 82% of this generation are already using the internet to steam media for entertainment and educational purposes.
One of the blockchain start-ups targeting this industry is "SLATE" a start-up with a rather impressive business model where it combines two subsidiaries, Binge Media Corporation and SLATIX solutions and using blockchain technology towards the improvement and development of the entertainment experience. The startups target the new industry where Video on demand and streaming content online trend according the research I have displayed above. The current media big franchises which have tapped this market include NETFLIX and AMAZON which have been centralized and commercialized the industry to their benefits. SLATE plans to decentralize the industry where SEG will deliver peer to peer network, Binge will offer on demand Video services and SLATIX will offer ticketing which will be rather cost effective due to the smart contract features that reduces the transaction fees and removes middlemen from the picture.
Problems Existing in the Media and Entertainment Industry.
The industry top players such as NETFLIX have centralized the space commercializing the industry and using the powers bestowed to curate content towards their own benefits leaving the user with no choice but to accept the decisions.
The cost is normally high due to the monopolization of the industry and since the industry players are centralized their businesses normally attract high expenses that are transferred to users, most industry players use third party fees processing which attract an approximately 20% increase in fees all transferred to the users.
Slate Solutions
SLATE Plans to decentralize the ecosystem and tokenize the platform which will create a token economy that reduces transaction costs and uses smart technology to reward content creators directly for their efforts, content creators will get a higher reward based on quality of their continent and users will be able to experience a lower cost of content compared to centralized systems.
SLATIX will solve the problem of high costs associated with processing fees, using the power of smart contracts and distributed ledger technology the platform plans to ensure trust between content creators and the platform and guarantee security and automatic processing of fees. These features will solve the problems centralized systems such NETFLIX faces.
The Slate Ecosystem:
The slate ecosystem will be powered by three subsidiaries, the include SLATE, BINGE & SLATIX.
SLATE will allow users to access contents bases on their needs and requirements, the SLATE Tokenized economy will be powered by SLATE which will be used as fuel and transaction processing on the platform.
BINGE on the other hand will use the power of blockchain technology to decentralize the ecosystem streaming needs and requirements, where users will be able to access contents that are artificially intelligent tailored and curated based on their behaviors.
SLATIX will be used to offer tickets in a smart and automatic contact based system, that will allow content creators instantly access their rewards and allow users to process micro-payments on a global scale with reduced charge thanks to the tokenized ecosystem of the platform.
SLATE Token Economy
Conclusions
It's an exciting time to jump on the slate project, with a massive support of more than 20k telegram community the platform has a large supporting base and the teams are not disappointing in terms of developing the platform, they have already finalized the wallet and its available for download on GitHub. The team comprises of dedicated developers and personnel's who have worked in various fields related to the media and entertainment industry. The team's connections with partnership with various firms such as XYZ Films, SITGES and OPTiFi will ensure constant flow of content and support. For more information and educative materials including the whitepaper, please check the reference section of this article. Thank-You.
References
Website: https://slate.io/
Whitepaper: https://slate.io/Slate_Whitepaper.pdf
Telegram: https://t.me/Slate
Twitter: https://twitter.com/slatecurrency
ANN Thread: https://bitcointalk.org/index.php?topic=3399383.0