Switzerland based blockchain company DECENT has announced the official launch of its blockchain-based content distribution platform to give a better deal to content producers than the current industry standards.
In statement issued recently and sent to BusinessDay, DECENT stated that its platform gives artists more freedom and control over ownership and distribution.
“DECENT Network will allow artists to efficiently distribute virtually any form of content, including written, music, videos, ebooks and pictures. The distribution does not rely on third parties meaning that artists will also manage their IP rights and pricing themselves,” DECENT noted in the statement.
Artists’ fees for each transaction are transferred fairly and almost instantly to their account after each transaction. With this method, artists will not have to wait months before seeing a penny from their work. DECENT Network’s service also comes at no charge to the artists and consumers.
“DECENT Network is a reaction to the issues that the majority of content producers face nowadays in the entertainment and media industry,” said Matej Michalko, founder and CEO of DECENT.
The company estimates that writers lose between 30-75 percent of the profits they make when publishing with Amazon. Similarly, a musician loses around 30 percent when they sell a track on iTunes.
DECENT said it is offering an alternative model which puts profits directly in the accounts of content creators with the elimination of third-parties and middleman fees. This could free up a huge chunk of spending in the global media and content distribution industry, the current level of spending is estimated to grow from $1.7 trillion in 2016 to over $2 trillion in 2019.
“The majority of the power,” Michalko said, “is concentrated in the hands of a few players controlling the industry. Artists, filmmakers and writers lose control over their work and depend on the mercy of the ‘big guys’. We designed DECENT Network to do away with all that and bring transparency and fairness to the digital content industry.
The majority of the content distribution market is dominated by the big players leaving artists at the mercy of these companies.
