Delayed three times since spring of 2020, No Time to Die—the 25th James Bond movie—finally premiered in London earlier this month, taking in $119 million in its international debut. It marked not only the return of the movie theater experience to much of the world, but also a glimpse at the future role of technology in facilitating global entertainment distribution.
From merchandise to receiving financing through crypto- and blockchain-based production, studios can better cater to filmmakers, retailers, and moviegoers by modernizing their approach to production and distribution. No Time to Die signals the first time a major Hollywood production has received such backing, but further crypto-based financing for other Hollywood projects in general has the potential to upend the entertainment industry.
In particular, MGM represents a vanguard in the entertainment industry. The company—which Amazon agreed to acquire for $8.45 billion last May—has already been collaborating with technology leaders to reach a wider audience and better monetize its properties. Early in 2021, it announced a partnership with Eluvio and its Content Fabric platform to support MGM’s distribution of screeners, prerelease screenings on local devices, and marketing and licensing support. Eluvio’s recent breakthroughs in blockchain security for content streaming are enabling media companies to expand monetization efforts beyond traditional barriers, with greater levels of personalization and rights control. MGM is also one of several recent media companies to explore the viability of NFT distribution to support their IPs, partnering with VeVe to distribute digital collectibles for No Time for Die.
Continue reading: https://www.fastcompany.com/90689576/blockchain-cryptocurrency-nft-movies-hollywood-no-time-to-die
From merchandise to receiving financing through crypto- and blockchain-based production, studios can better cater to filmmakers, retailers, and moviegoers by modernizing their approach to production and distribution. No Time to Die signals the first time a major Hollywood production has received such backing, but further crypto-based financing for other Hollywood projects in general has the potential to upend the entertainment industry.
In particular, MGM represents a vanguard in the entertainment industry. The company—which Amazon agreed to acquire for $8.45 billion last May—has already been collaborating with technology leaders to reach a wider audience and better monetize its properties. Early in 2021, it announced a partnership with Eluvio and its Content Fabric platform to support MGM’s distribution of screeners, prerelease screenings on local devices, and marketing and licensing support. Eluvio’s recent breakthroughs in blockchain security for content streaming are enabling media companies to expand monetization efforts beyond traditional barriers, with greater levels of personalization and rights control. MGM is also one of several recent media companies to explore the viability of NFT distribution to support their IPs, partnering with VeVe to distribute digital collectibles for No Time for Die.
Continue reading: https://www.fastcompany.com/90689576/blockchain-cryptocurrency-nft-movies-hollywood-no-time-to-die
