Blockchain is no longer a new concept in the tech world. Its applications are increasing with each passing day.
Another trend enjoying rapid growth is the video streaming industry. Nowadays, many people look for entertainment on OTT platforms. But such video streaming platforms come with limitations. People like to have uninterrupted service and seamless experience, which such platforms fail to deliver.
With blockchain, it is possible to overcome such challenges.
Challenges in Video Streaming
Expensive and Limited Pricing Models:
When it comes to the VOD or OTT platforms, customers demand “per-use” payment models.
The current pricing structure of such platforms enforces customers to cobble the multiple fragmented services for watching their favorite programs or shows. This turns out to be expensive.
With the implementation of blockchain-based video streaming app development programs and flexible micro-payment systems that are blockchain-enabled, monetization models and flexible media distribution can be easily facilitated.
It will allow the users to access content as they desire while minimizing their payments for seeing their favorite TV programs or shows.
Annoying and Complex Advertising Models:
The online monetization of content is still largely dependent on advertising.
With Blockchain app development programs, direct customer relationships can be established between the fans and the artist for providing content that supports compensation and usage trackability.
Also, fair advertising billing models can be made to provide exact performance tracking of the efforts of advertising.
Inaccurate and Opaque Royalty Payments:
The royalty payments distribution of blockchain contains several contracts among the publishing houses, producers, and artists. Additionally, the contractual complexities make the settlement activities complicated further. It results in insignificant and opaque proceeds.
But in blockchain, digital content consumption can be captured properly to facilitate a precise analysis of usage-based playtimes/usages. It also facilitates the micro-allocation of royalty payments in real-time. And for doing so, you can seek professional help from a reputed Blockchain app development service provider__.__
Complex and Inefficient P2P/C2C Sharing and Rights:
Duplication, digital piracy, intellectual property infringement, and digital content costs millions to the entertainment and media industry annually. File-sharing illegally is still a challenge for media companies to overcome.
With blockchain, all C2C/B2B copyright assets can be controlled, monetized, and leveraged. Illegal sharing of files and copyright infringements can also be prevented because the blockchain-based identities and micro-transactions of consumers and content customers can be traced.
Multi-Country Media Streaming Access:
Various media frequently cannot be accessed by the paid VOD/OTT service subscribers in another region or country.
Because of DRM systems, integration over countries and country-specific purchase of a license, the licenser prohibits the accessibility.
With blockchain, billing systems, and DRM having multi-region/country access can be developed. Improved customer experience with flawless subscription models can be provided. With smart contracts, automated and transparent rights management can be facilitated as well.
Hero in Chain Form
The potential for Blockchain applications in video streaming services is huge. A few of them are as follows:
Video-on-Demand Streaming:
These services pay the content owners based on the number of views. It also enables the views for paying per view.
With smart contracts, royalty management can be optimized. Content consumption, distribution, and payment models can be strengthened to unlock a broader audience reach with multi-country access.
It also facilitates inventive loyalty programs for ensuring long-term customer commitment.
Live Media Streaming Solutions:
It is possible to develop scalable, secure, and cost-efficient live streaming solutions for users to make on-demand or live video apps for powering their video functionality. The users can seamlessly stream conferences, surveillance, coding, gaming, educational courses, entertainment, and others with blockchain-based efficiency and security.
The high infrastructure costs and streaming bills can be significantly reduced with faster scalability and TPS powered by Blockchain technology.
Content Delivery Networks:
With blockchain, a decentralized CDN network can be developed that offers streaming services to the end-users with high availability, cost-efficiency, scalability, and performance over a global network.
Video streaming app development with blockchain offers a secure, transparent, and fast delivery of video content.
Features of Blockchain-Powered Streaming Applications:
The features are as follows:
- It facilitates a secure digital identity-based account creation. It contains immutable users’ info and interest.
- For connecting to the global audience, multi-country access and multi-lingual stream options will be there.
- Cryptocurrency-based safe and secure payment options will be there.
Conclusion:
Blockchain is evolving. It’s time for streaming services to evolve with it.