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After Netflix put Blockbuster out of business, it transitioned itself from a physical to a digital good business by launching its streaming platform. Since then, streaming services have become another weapon in the arms race which is content acquisition. From the wars over America’s beloved comedy, The Office, to nearly “too good to be true” viewership of the original Birdbox, everyone on the provider side of the media business is on the hunt for the next big thing. Why? Per Subscriber Revenue of course! Exclusive rights to a hit show or movie drive new sign-ups, keep current subscribers engaged, and ultimately keep shareholders happy at the end of each quarter. As streaming services go head-to-head with traditional cable & broadcast networks on the field of content acquisition battle, we are allowed a deeper look into how this information is “gatekept”, the third parties which hamper availability, and one of the players trying to disrupt this space.
The content acquisition cycle is a long and arduous process that involves numerous intermediaries. Akin to a Yiddish matchmaker in the old country, agents and attorneys act as intermediaries between the content creators and content buyers, all while siphoning off a piece of deal as a fee for introducing the spouses which will make each happy in the end – a lucrative deal for a content producer seeking a multi-show/film deal and a stable of programming which will keep viewers glued to the big, or little, screen. And all of this assumes that the first draft of Jack or Jill’s script was registered and shopped around at the highest levels – what of the tens of thousands of scripts and screenplays each year aren’t read? There’s a better chance of Elon making a tweet that will send the next token skyrocketing than your pilot getting made.
In addition to the mainstream content, as advertising mediums become more addressable and our tastes become ever more fragmented, content buyers will need access to an ever-increasing library of screenwriters or content available to satisfy demand. One of the most innovative efforts to meet this demand is The Media Industry Licensing Content project (or MILC for short), a new project which seeks to streamline global content acquisition with state-of-the-art blockchain technology.
Aimed at solving the demand-side problem (i.e. putting content creators/creations in front of content buyers), MILC has developed a platform that enables content to be traded globally via digital trade platform and simplifies the traditional contract process using smart contracts via blockchain tech. For example, a Netflix buyer seeking to build a library of novellas no longer has to call agents and agencies which are tapped into the global marketplace – by logging in to the MILC platform, this buyer has access to hundreds, even thousands, of pieces of content which are likely to resonate with their audience. Once viewed, the buyer can provide feedback, contact the content creator directly, or download the content directly to their streaming platform. With embedded rights management and licensing through smart contracts via blockchain, content creators do not need to worry about their content being stolen or pirated.
An extremely forward-thinking proposition MILC has lies in the creation of their own token, the MLT, which can be used as payment for obtaining content licenses, as fundraising for new projects & studios, staked for passive income, or used for governance purposes to track content consumption by purchasers. As a part of the MILC platform, the community of MLT holders become a continuous feedback loop for creators, allowing for user-generated voting and ratings of available content – paying out MLT prizes to the designated winners. The tokenomics are specifically designed to capture the value in the media industry – as usage of the MILC platform grows so too will its value. And as a boon to holders, MLT will incorporate coin burning – permanently destroying 0.5% of all MLT transaction volume occurring on the platform. The platform will also support single transaction FIAT purchases with all FIAT moving through the platform and converting directly to MLT tokens.
And while the MILC project may be a new approach to licensing and acquisition, the organization behind it brings a vast amount of experience – Welt der Wunder TV, one of Germany’s leading production companies. WdW has been in operation for over 25 years in the second-largest TV market. As part of an established brand, WdW has an extensive global network of talented content creators and media platforms – making them well-positioned for success in this endeavor. Currently, WdW’s content library – valued at over $50MM – has more than 25M monthly viewers.
We believe that platforms such as MILC are the next evolution of content acquisition in the media industry, streamlining current processes and democratizing access to content produced by both large and small players. By combining an established industry brand with powerful tokenomics and blockchain technology, MILC and the MLT token are poised for great success. The media revolution is here.