– The OTT video industry is projected to reach $200 billion in 2023.
– The revenue-sharing mechanics of the industry create an imbalance between content creators and platforms.
– The centralized nature of the video streaming ecosystem allows for opaque distribution and minimal value for creators.
– Blockchain-based video distribution can provide transparency and fairness.
– Replay, a decentralized video streaming protocol, aims to provide real-time compensation and transparency for content creators.
– Replay’s first streaming service, RewardedTV, utilizes Web3 to reward viewers with digital tokens.
– Creators can have direct control over their business models and build first-hand relationships with platforms and communities.
– Replay has joined the Cointelegraph Accelerator program.
– RewardedTV has reached 100,000 registered users and offers a wide range of video-on-demand options and channels.
Streaming video is one of the fastest-growing markets in the world, with the OTT video industry alone projected to reach $200 billion in 2023. The revenue-sharing mechanics of the industry, however, create an unhealthy balance between the creators of value and the platforms distributing that content. The centralized nature of the video streaming ecosystem allows for opaque distribution and lets platforms capture the vast majority of the revenue, leaving minimal value for video creators.
One potential solution for mainstream media brands managing these issues lies in a decentralized, transparent video distribution ecosystem that utilizes the traceability and accountability qualities of blockchain technology. Replay, a decentralized video streaming protocol, aims to provide transparency and fairness to content creators and owners by building a video ecosystem with real-time compensation by monitoring content usage on playback and recording all data on a distributed ledger. The protocol can also gamify any video app with badges, missions, and digital collectibles.
Replay’s first streaming service, RewardedTV, utilizes Web3 to reward viewers with digital tokens. Users can redeem reward tokens for digital goods, and the whole experience is gamified with features such as leaderboards and competitions. Using Replay’s asset management portal, creators can get live insights into their content consumption data and have direct control over their business models. Replay also lets creators be in charge of their own distribution by allowing them to build first-hand relations with platforms, publishers, and communities that wish to support creators.
Replay has become the latest participant of the Cointelegraph Accelerator program. Given the growth potential of a Web3-driven video industry, Cointelegraph Accelerator picked Replay for its U.S.-headquartered experienced team of 10+ employees hailing from within the video industry as well as its proven track record. “It’s incredibly exciting to be selected by Cointelegraph for this prestigious accelerator program,” said Krish Arvapally, CEO of Replay. As of May 2023, RewardedTV hit 100,000 registered users, with over 4,000 video-on-demand (VOD) options and over 120+ linear and live channels. The platform provides access to over 20,000 titles, including those from popular brands like Yu-Gi-Oh!, The Washington Post, and WatchMojo.
