Web3 Media, Entertainment & Creator Economy 4.0

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Issue #24

Today, we will examine how Web3 is shaping online media, entertainment, and the creator economy.

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Section 1: Key Market Trends

(1) Superfan economy:

  • Entertainment companies are adopting a fan-first approach to increase fan engagement, interaction, and retention. “Proof of support” is becoming a mechanism for fan rewards.
  • Fanzee closed $2 Million in funding to reward sports fans for completing quizzes and challenges through digital collectibles.
  • Fanbase is a platform that allows artists to reward fans who show their support.
  • Fave rewards followers who perform “superfans” activities such as social posting, music streaming, attending concerts, etc.

(2) It pays to be a listener:

  • Companies are exploring ways to reward music or podcast listeners via listen-to-earn mechanism.
  • Fountain pays you when you listen to podcasts, promoted ads, and create clipped content.
  • Decibel is piggybacking on social audio apps (e.g. Clubhouse, Twitter Spaces, Discord, Telegram, Spotify Greenroom, Meta) by rewarding users for room listening, speaking, and moderating.
  • Current Media lets you earn while playing your favorite music. Users can spend those points on shopping and gift cards.
  • RadioEarn pays users who play a radio link. Rewards will be converted into USD, Amazon Gift Cards, or Bitcoin (BTC).

(3) More earning opportunities for musicians:

  • In the past, artists only earn from selling music. Today, musicians can create multiple income streams. These blockchain platforms allow musicians to sell exclusive NFTs to their fans, offer gated content, earn streaming revenue, etc.
  • Tune.FM lets musicians earn 90% of music streaming revenue. The platform also offers extensive decentralized music services including music NFTs, streaming royalties, and social audio.
  • Afterparty lets music artists start a membership-based community, sell exclusive IRL music experiences or VIP events.
  • Fanaply is a digital collectible platform for musicians and entertainment creators.
  • Audius is building the Web3 version of Spotify where artists can earn streaming revenues.

more… !

(🔒 MEMBERS-ONLY) +7 more key trends, backed by real company examples:

🔑 (4/10) What are Fan Tokens (3 examples)

🔑 (5/10) Co-ownership model in the creator economy (3 company examples)

🔑 (6/10) Multiplayer mode in the creator economy (5 project examples)

🔑 (7/10) Top players reinventing the film industry and movie creator economy (4 company examples)

🔑 (8/10) How online media and newsletter companies implement metaverse (5 examples)

🔑 (9/10) NFT is shaping literature. Online readers are becoming online owners (6 company examples)

🔑 (10/10) NFT marketplace niches in the media & entertainment category (7 company examples)

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Section 2: Market Players & Databases

  • 🏢 Total 82 market players
  • 🔖 Total 8 market categories or segments
  • 🗃 Company databases: value proposition, website, stage, total funding raised, year founded, company size, location, and LinkedIn
  • 👌 Easily filter, sort, and customize the display

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Section 3: Problems & Market Needs

(1) Inefficiency in film financing:

  • Investors are the first to pour money into a movie but last to see if it generates any return. Fund allocation and profit distribution aren’t being tracked and reported. Private financiers charge between 36 to 48% interest. In Asia, film producers have no access to film financing from banks, but only corporate loans.
  • Decentralized film financing (DeFiFi) can resolve transparency issues and unlock access to film financing without relying on traditional financiers. Companies are already using blockchain to change how movie projects are funded, produced, distributed, and monetized.
  • MovieBloc helps independent film producers to secure film investment, screening opportunities, fair revenue share, and viewing analytics. Viewers can earn crypto for making subtitles.
  • FLIX will crowdfund movie projects through its native token where 75% of the fund goes into production and 25% for marketing campaigns.
  • Mogul Productions allows movie makers to submit their movie ideas for opportunities to receive funding for their projects through NFTs.

(🔒 MEMBERS-ONLY) +4 more market problems and how top players fill the gap:

🔑 (2/5) How to solve unequal revenue distribution using tokenization & NFT (3 company examples)

🔑 (3/5) How to solve counterfeit tickets in the entertainment industry (3 company examples)

🔑 (4/5) How to provide equal access to game monetization (3 company examples)

🔑 (5/5) How to increase income opportunities for writers (3 company examples)

Section 4: Next Big Things + New Opportunities

(1) Unbundling of media companies:

  • Web3 startups will continue to unbundle each component of the media business. This includes advertisement, content creation, production, distribution, etc.
  • Advertisement. Online ads will not be the only platforms for advertising. Platforms like MAD allow brands to buy and auction advertisement slots in the metaverse.
  • Monetization. Creators will have their own digital economy, independent of platforms. Rally allows creators to monetize directly from their fans by launching social tokens.
  • Distribution. Unbundling of OpenSea is already happening. Specialized NFT marketplaces will continue to emerge. E.g. game assets (Fractal.is), sports cards (Sorare), and music (Sound.xyz).

(2) Derivative content will become monetizable:

  • Web3 will reshape the creator economy. It will look a lot like the fans’ economy. Fans will create derivative or repurposed content based on artists’ original work. There will be more opportunities to convert this content into sellable assets.
  • Podcast clips. Fountain pays you when you create clipped content derived from the original podcast.
  • Video game modding. Game players can make money by altering original game content using platforms like Steam Workshop and Rec Room. One Reddit user makes a full-time living by creating maps for Counter-Strike.
  • Music/DJ remixes. Arpeggi Labs allows original tracks to be remixed by music fans and leveraged blockchain to track portions of the sounds being used.

(3) CC0 will redefine copyrighted content and original work:

  • CC0 (stands for Creative Commons) NFT projects are shifting digital content to the public domain. That means anyone can reuse, rework and rebuild upon the NFT, unrestrained by copyrights.
  • As the creator economy is becoming user-owned, co-creation between creators and consumers will blur the line between original and derivative content. More content will be open sourced and “no rights reserved”.
  • Emerging players like goblintown, Loot, Nouns, Cryptoadz are defining the space. The more projects that are imitated, the more attention is drawn to the platform.

(4) Immersive media will be the new multimedia:

  • The future of media companies is multimedia that goes beyond the text, video, voice clips, or image format. As metaverse is gaining traction, new solutions will empower creators to create, publish and distribute immersive content for the virtual world.
  • Avatars = media. Ready Player Me lets you generate full-body 3D avatars that work across multiple metaverse destinations.
  • 3D lands = media. Decentraland lets you build and sell virtual real estate.
  • NFTs = media. NiftyKit lets you create, upload and launch NFT assets for sale without any code.

(🔒 MEMBERS-ONLY) +5 more untapped market opportunities:

🔑 (5/9) Monetizing “attention” in the Web3 era (6 company examples)

🔑 (6/9) The “dynamic NFTs” opportunities (3 company examples)

🔑 (7/9) New distribution channels for creators (4 company examples)

🔑 (8/9) Emergence of fractional NFTs (4 platform examples)

🔑 (9/9) NFT utility use cases for the entertainment industry (3 platform examples)

Section 5: Strategy & Recommendation

(1) Identify jobs-to-be-done:

  • For filmmakers: secure funding for movie projects
  • For creators: build an audience and monetize their work
  • For fans: engage with their favorite artists and earn rewards for activities
  • For collectors: invest in music, film, books and own a share of digital assets
  • For musicians: get paid fairly and monetize their music
  • For book publishers: market and distribute their creation

(🔒 MEMBERS-ONLY) 4 more Tactics & Tools Recommendations

🔑 (2/5) 7 ways to differentiate web3 media platforms

🔑 (3/5) 6 ways to implement Web3 in your media business

🔑 (4/5) 5 ways to find users for your Web3 media/entertainment projects

🔑 (5/5) 4 monetization models for Web3 platforms

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