There’s an old adage that says content is king. That statement holds true with each and every passing year. According to one estimate, the amount of purchasing content has reached a staggering amount of US$ 240 billion per annum. Not only that, this amount is expected to grow at an annual rate of 10 percent. Along with modern entrants like Netflix and Amazon, even old players such as Disney and Fox are competing for a fierce battle for just one thing -- your attention span and where you choose to spend it.
While the industry continues to grow, the way it approaches the business in terms of processes is still old-fashioned and somewhat inefficient. Take for instance the fact that around 35-40% of the value (of US$ 240 Billion) is lost as transaction cost owning to frivolously drawn-out negotiations along with high-end commissions. Another key part of the content ecosystem -- sponsorship -- is also plagued with similar inefficiencies. The deals often take months (sometimes even years) to conclude and are based on little to no scientific selection.
Vuulr, then, is entering the market at an opportune time. Along with promising to eradicate inefficiencies and lethargy from the ecosystem, it’s looking to reinvent how the content industry functions as a whole. The platform or the marketplace that Vuulr is creating will seamlessly provide a way to acquire, discover, and search for content including the area of sponsorship and delivery.
The two-based approach system on which Vuulr places itself on is as follows:
- The Vuulr marketplace aims to bring multiple parties -- including brands, creators, and sponsors -- together digitally. Since the content rights will be enabled worldwide, the overall process of the content ecosystem will accelerate at a tremendous rate. To the point wherein a process that now takes months might get sealed in a matter of a day or even a few hours.
- Based on the ethereum blockchain, the Vuulr supply chain effectively establishes a suite of decentralised applications in order to create a tokenized content ecosystem. Rights would be effectively traded for both content as well as sponsorship. All the open source applications, as well as other platforms, are based on the industry-accepted MovieLabs Digital Distribution Framework (MDDF).
How does the Vuulr Marketplace functions?
Through the Vuulr platform, both content creators, as well as distributors, will be able to list their creations whether it’s films, shows, or something else. In order to drive sales as well as increase the relevant visibility of the content, the platform matches promoters as well as buyers with creators and distributors.
The key USP of Vuulr is that it makes it easier and significantly faster for buyers to find content based on their liking. Along with it, the platform also promises ease of access as well as simplification of the process of negotiation and acquisition.
The same marketplace will also connect brands to both distributors and creators. Thus, making it easier to conduct business in an effective way. Right from negotiating rights to commissioning content, Vuulr will make it possible to seal the deal right on the platform.
What Vuulr wants to achieve is definitely ambitious and revolutionary. Right so then, its team members range from seasoned developers, marketers, and other professionals who have hundreds of years of combined experience in the relevant fields. Not only that, Vuulr’s advisory board consists of some seasoned names including Managing Director of Walt Disney (Southeast) and Vice President of Viacom/MTV Asia.
Vuulr, headquartered in Singapore, aims to change the broadcasting content ecosystem from its crux by:
- Digital media assets including films and television shows will have their own unique ideas that can be managed
- Accessing and trading of metadata for title’s broadcast
- The content right can be availed and negotiated
- An immutable record for content ownership can be generated
You can read more about Vuulr and how it’s set to transform the broadcast content industry for good over here.
This post is sponsored by Cryptoprofile.