Blockchain in Media, Advertising, and Entertainment market was valued at US$ 575 million in 2022 and is anticipated to reach US$ 16470 million by 2029, witnessing a CAGR of 74.9% - Valuates Reports

Blockchain in Media, Advertising, and Entertainment market was valued at US$ 575 million in 2022 and is anticipated to reach US$ 16470 million by 2029, witnessing a CAGR of 74.9% during the forecast period 2023-2029.

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Blockchain technology is a disseminated ledger platform to get a grip of all your transactions in a protected and encrypted manner. It is a chain of blocks that is segregated across the network and connected together to provide a dependable, secure, and highly-advanced solution to record digital information. At its core, blockchain relies on a decentralised, digitalised and distributed ledger model. By its nature, this is more robust and secure than the proprietary, centralised models which are currently used in the trade ecosystem. Blockchain is a secure and encrypted digital database shared by all parties in a distributed network. Any transaction that occurs in the network is recorded, verified and stored in the database and visible to all participants, creating an unalterable transaction log. This structure bestows special properties on a blockchain, including greater transparency and security, because transaction activity can be tracked, fully verified and audited. Blockchain has the potential to transform several markets within media and entertainment, but particularly those where participants would benefit from the security and transparency that blockchain would offer, such as distribution of payments, funding, monetization and contract enforcement. In the media and entertainment sectors, blockchain has the potential to eliminate or dramatically lower transaction costs. For example, blockchain could enable a news website to charge readers per article, rather than per month. Low-cost micro-transactions like these can be processed through a blockchain without the fees that existing payment platforms demand. Taking it one step further, a blockchain ledger could be used to secure intellectual property like music and film, making it possible to enforce usage rights and mitigate. Blockchains can help M&E companies operate much more effectively within their business networks because they support consensus, provenance, immutability and finality, cost removal, and reduced tampering and fraud. It also contributes to enhanced data quality, increased trust, and reduction or elimination of disputes. Blockchain technology is still in the early stages of development, but given the excitement around the many ways it could be put to use, it's not too soon for media and entertainment companies to start thinking about the possible implications for their businesses and the industry. Blockchain has the potential to disrupt the way content is produced, aggregated, distributed and consumed.
The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Global key blockchain in media, advertising, and entertainment players include IBM, Amazon Web Services (AWS), Microsoft etc. The top 7 companies hold a share about 85%. North America is the largest market, with a share about 47%, followed by Europe and Asia-Pacific with the share about 27% and 15%. In terms of product, cloud based is the largest segment, with a share over 87%. And in terms of platform, the largest platform is Ethereum, followed by Hyperledger and Quorum.

Segment by Type
On-Premise
Cloud Based

Segment by Platform
Ethereum
Hyperledger
Quorum
Others

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