Vuulr Brings Broadcast Content to the Blockchain Transforming the Film and TV Content Ecosystem
Vuulr is a pioneering global digital supply chain and marketplace for the broadcast industry. The blockchain-based online marketplace aims to bring consistency in data formats currently being utilized by major studios in Hollywood, broadcasters and over-the-top buyers such as Google and Netflix. The goal is to eradicate inconsistencies which cause inaccuracies so that there is fluidity and better cohesion to boost productivity and make doing business between content sellers and buyers simpler and easier.
According to estimates, over US$240 billion is spent annually on acquiring content in film, sports, television, etc. However, approximately two-fifths of that value is lost in transaction costs. For instance, it can take up to several months of back and forth negotiations just to acquire a title which affects content delivery to audience at opportune times since the entertainment industry is saturated with content and audiences expect faster delivery. Vuulr is trying to address some of these challenges by creating a web application which will be the Vuulr Marketplace that seamlessly integrates with and utilises data and functionality from the Vuulr Supply Chain. The platform is intended to provide easy to use, smart and convenient functionality for acquisition, search and discovery, including delivery and sponsorship of titles.
The Vuulr Marketplace will bring together major key stakeholders including buyers, content creators and distributors, and brands in order to buy or sell finished content and sponsorship content. The platform will be free for buyers to use and free for sellers to make content listings with a small fee payable upon successful completion of a transaction. There is no exclusivity required and the Vuulr Marketplace will support:
· Content Buyers — free-to-air TV broadcasters, pay TV channels, over-the-tops, etc. Buyers of Content will be able to search and discover content for purchase; screen and evaluate content; check content availability; negotiate a title’s license terms and choice of contract; negotiate a sponsorship’s commercial terms and choice of contract; make payments and close the deals.
· Content Sellers — intellectual property owners, TV and film studios, production houses, etc. Sellers of Content will be able to acquire a unique content ID; upload and manage a title’s metadata, screeners, trailers, first episodes, etc; upload and manage avails; distribute rights management; create and manage the assignment of rights to distributors, negotiate a title’s license terms and choice of contract; and facilitate payments.
· Content Resellers — distributors, etc. Resellers of content or distributors can acquire a unique content ID; upload and manage a title; upload and manage avails; negotiate a Title’s license terms and choice of contract; and make payments.
· Content Sponsors — brands, etc. Brands representatives will be able to participate in the Vuulr marketplace and transact with the content listings in a variety of ways including sponsorship, co-funding, and acquisition of rights. These sponsors will also be able to search and discover content for sponsorship, register sponsorship terms; negotiating sponsorship commercial terms and choice of contract; and also make payments.
Mechanics of the Vuulr Marketplace
Buying, Selling and Sponsoring Content
With Vuulr content creators and distributors are able to list movies, television shows, or sporting content. The platform then matches content with relevant buyers and promotes content which is suited to their requirements. This model is devised to drive sales and increase content value. Buyers from around the globe will be equipped with tools to facilitate search, screen, check avails, and also bargain rights packages with the owners of specific content they are interested in. Vuulr’s value proposition is that the platform will make it easier and faster to find, negotiate and acquire content in a timely way.
The Vuulr Marketplace also connects brands with broadcasters and creators, making it easy to do business. From negotiating rights to sponsoring broadcasts, placing products, to commissioning content, Vuulr will make these things possible. The Vuulr team is already working with EIDR, MovieLabs and EMA, which are trade associations funded by Hollywood and presently campaigning for better industry standards and processes which make the market more viable by stripping away some of the legacy roadblocks.
The Vuulr supply chain
The Vuulr supply chain develops open source applications and platform technology based on the MovieLabs Digital Distribution Framework (MDDF) using the Blockchain. This framework and standard is already supported by studios such as Disney, Paramount, Sony Pictures, Fox, Lionsgate, NBC Universal, Warner Bros, etc. Prominent digital platforms including Amazon, Google Play, Microsoft Movies & TV, Sony PlayStation, Comcast, and Netflix are also using the same framework. Through the Vuulr supply chain, technical issues in digital supply chain automation can be eliminated saving time and money while boosting revenues for all parties involved.
Leveraging Blockchain Technology
Vuulr’s system will be built on blockchain. The project has garnered significant support from entities such as Mediacorp and Endemol Shine Group, to name a few. The vision behind building the platform on the blockchain is that it is the perfect technology to solve many of the transactional problems that the industry faced today. Utilising the Ethereum blockchain, Vuulr will build its distributed supply chain to reduce the time it takes broadcasters go through the discovery and delivery processes involved in content acquisition, selling and leasing. The important thing to note here is that all these process will be done at an unprecedent pace, which could be as fast as 24 hrs to completion instead of the typical 3–6 months.
The Vuulr solution is set to revolutionize the broadcast content industry by:
- Issuing and managing unique IDs for digital media assets including films and television shows
- Trading and accessing metadata for broadcast titles
- Transacting avails and negotiating content rights
- Generating an immutable record of content ownership
Using the Ethereum blockchain, Vuulr is resolved to establish a suite of decentralized applications to create a tokenized ecosystem which consists of a supply chain solution and an exchange for the trading of content rights for broadcast content and sponsorship. The Vuulr ERC20 Token will facilitate transactions in the Vuulr Marketplace and the Vuulr Foundation Supply Chain Solution. These transactions will be denominated in Vuulr Tokens and may include registration of titles for unique IDs, transacting between publishers and consumers of metadata, incentivising content creation, promoting brand sponsorship, and more. Find out more about the Vuulr project here.
Sponsored by: http://cryptoprofile.com/