Blockchain in Media Advertising and Entertainment Market to Grow with a CAGR of 80.19% through 2029
Increased
awareness of the benefits of blockchain technology, such as transparency,
security, and efficiency and growing adoption of blockchain technology are
likely to drive the Market in the forecast period.
According to
TechSci Research report, “Blockchain in Media Advertising and Entertainment Market
– Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2029”, the Global Blockchain in Media Advertising and
Entertainment Market is experiencing a surge in demand in the forecast period. A
key driver propelling the global blockchain in media advertising and entertainment
market is the enhancement of transparency and trust within the advertising
ecosystem. Traditional advertising models have long grappled with issues such
as ad fraud, discrepancies in reporting, and a lack of verifiable data.
Blockchain technology addresses these challenges by providing a decentralized
and immutable ledger that records every interaction in the advertising supply
chain.
Through
the implementation of smart contracts, blockchain automates and enforces
agreements, ensuring that all stakeholders, including advertisers, publishers,
and consumers, have access to transparent and accurate data in real-time.
Advertisers can confidently verify the authenticity of ad impressions and
engagement metrics, reducing the risk of fraudulent activities. This heightened
transparency not only instills trust among industry participants but also
fosters a more accountable and efficient advertising ecosystem, driving the
adoption of blockchain solutions in media advertising.
Another
pivotal driver shaping the global blockchain in media advertising and
entertainment market is the shift towards decentralized content distribution
and innovative monetization models. Traditional centralized distribution
platforms often exert significant control over content, limiting the
opportunities for creators and imposing barriers to entry.
Blockchain
technology disrupts this model by enabling decentralized content distribution
networks. Smart contracts on the blockchain automate royalty payments and
eliminate the need for intermediaries, ensuring that content creators receive
fair compensation for their work. This democratization of content distribution
not only empowers creators but also provides consumers with a more diverse and
inclusive range of content.
Blockchain facilitates novel monetization models through the tokenization of
assets. Content creators can tokenize their work, allowing fans to purchase and
own unique digital assets associated with the content. This not only creates
new revenue streams for creators but also fosters a deeper connection between
creators and their audience. The decentralized and transparent nature of
blockchain in content distribution and monetization positions it as a driving
force in reshaping the landscape of media and entertainment industries.
The Global Blockchain in Media Advertising and
Entertainment Market is driven by several influential factors shaping its
trajectory. The increasing demand for transparency and accountability
in advertising expenditure fuels adoption. Blockchain technology provides
immutable ledgers, ensuring accurate tracking of ad spend, combating fraud, and
enhancing trust between advertisers and publishers.
The rise of digital content consumption
necessitates secure and efficient monetization methods. Blockchain facilitates
microtransactions and smart contracts, enabling seamless, decentralized payment
systems within media and entertainment platforms. This enhances revenue streams
while reducing transaction costs and mitigating revenue leakage.
Concerns over data privacy and consumer
consent drive the adoption of blockchain-based solutions. By providing users
with control over their data and enabling transparent data sharing mechanisms,
blockchain enhances trust and compliance with privacy regulations, fostering a
more ethical and sustainable advertising ecosystem.
The evolving regulatory landscape and
industry standards encourage blockchain integration. Compliance with emerging
regulations and standards mandates the adoption of robust data management
solutions, positioning blockchain as a viable option for ensuring regulatory
compliance and industry alignment.
Browse over XX Market
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The Global Blockchain
in Media Advertising and Entertainment Market is segmented into type of
blockchain, application, size of the enterprise and region.
Based on type of blockchain, The
Public segment held the largest Market share in 2023. Public blockchains, by
design, offer a high level of transparency and trust. In the media advertising
and entertainment industry, where transparency in transactions, ad impressions,
and content distribution is crucial, public blockchains provide a decentralized
and open ledger that can be audited by all participants. This transparency
helps build trust among stakeholders, including advertisers, publishers, and
consumers.
Public
blockchains are decentralized networks of nodes, making them resistant to
central points of failure or control. Immutability ensures that once data is
recorded on the blockchain, it cannot be altered. In advertising and content
distribution, this decentralized and tamper-resistant nature adds a layer of
security and reduces the risk of fraudulent activities.
Public
blockchains are accessible globally without the need for permission. This
global accessibility is particularly beneficial in the media and entertainment
industry, which operates on an international scale. Public blockchains
facilitate cross-border transactions, content distribution, and audience
engagement without the limitations associated with centralized systems.
Public
blockchains often adhere to industry standards, fostering interoperability
between different systems and applications. This standardization makes it
easier for businesses in the media and entertainment sector to integrate
blockchain solutions into their existing workflows and collaborate with other
stakeholders within the ecosystem.
Public
blockchains support tokenization, enabling the creation of unique digital
assets such as non-fungible tokens (NFTs). These tokens play a crucial role in
new monetization models, allowing content creators to tokenize their work and
engage with audiences through ownership and collectibles. Public blockchains
provide a global marketplace for these digital assets.
Public
blockchains often have active and engaged communities of developers, users, and
contributors. This collaborative environment fosters innovation and the
development of new applications and features that can benefit the media
advertising and entertainment industry. Open-source projects on public
blockchains encourage a diverse range of contributors and perspectives.
Major companies
operating in the Global Blockchain in Media Advertising and Entertainment Market
are:
- IBM Corporation
- Microsoft Corporation
- SAP SE
- Accenture Plc.
- Amazon Web Services Inc.
- Oracle Corporation
- Digital Currency Group Inc.
- Bitfury Holding B.V.
- Factom, Inc.
- Guardtime OU
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“The Global Blockchain
in Media Advertising and Entertainment Market is expected to rise in the
upcoming years and register a significant CAGR during the forecast period. The primary driver behind the global
adoption of blockchain in the media advertising and entertainment market is the
pursuit of enhanced trust and operational efficiency. Blockchain's
decentralized ledger ensures transparent, real-time tracking of transactions,
reducing fraud and discrepancies in the advertising supply chain. The
automation of agreements through smart contracts streamlines processes,
instilling confidence in stakeholders by providing verifiable and immutable
data. By fostering trust and improving operational efficiency, blockchain
transforms the advertising and entertainment landscape, making it more secure,
accountable, and conducive to innovative monetization models and content
distribution strategies. Therefore, the Market of Blockchain in Media
Advertising and Entertainment is expected to boost in the upcoming years.,”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Blockchain in Media Advertising and
Entertainment Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, Segmented By Application (Licensing and Rights Management, Digital
Advertising, Smart Contracts, Online Gaming, Payments), By Type of Blockchain
(Public, Private), By Size of the Enterprise (Small and Medium Enterprise,
Large Enterprise), By Region, By Competition 2019-2029”, has evaluated the future growth potential of Global
Blockchain in Media Advertising and Entertainment Market and provides
statistics & information on Market size, structure and future Market
growth. The report intends to provide cutting-edge Market intelligence and help
decision-makers make sound investment decisions., The report also identifies
and analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the Global Blockchain in Media Advertising and Entertainment Market.
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