According to Motion Pictures Association of America Report, consumer spending for the combined theatrical and home entertainment markets reached $88.4 billion worldwide, up from $81.9 billion in 2016. There are over 170,000 cinema screens (+8%) around the world, and 777 films (+8%) were released in North America in 2017. The MPAA chairman and CEO Charles Rivkin commented, “With more stories and more storytelling mediums than ever, our industry continues to adapt to an ever-changing world.”
Global Theatrical and Home Entertainment Consumer Spending (US$ Billions) While the overall market is growing, the industry is also dominated by conglomerates with a vertical integration among three phases: production, distribution, and exhibition. This integration causes barriers in the industry, such as biased screen allocation, as the business is mainly focused on obtaining a wider audiences for stronger revenues. The filmmakers and audience are the main victims from this effect. The filmmakers are asked to produce films only with a high probability of commercial success. The consumers’ right to enjoy various and free-choice of content is lost.
MovieBloc’s mission is to solve those problems with its blockchain technology. The creators will get transparent revenue share, audience data, and equal screening opportunity; the viewers will access various films & content. In the long-term, MovieBloc will create the biggest and most participant-centric film ecosystem.
By co-working with KMPlayer, a multimedia player with over 300 million users, MovieBloc will not only provide film producers with an equal opportunity to create and show their films, but also bring various movies at a reasonable price to MovieBloc users.
MovieBloc is different from previous film related ICO projects. These projects have focused on removing middleman and providing direct distribution channel between the creators and the audiences. However, this model has gave the creators more roles and responsibility of promoting and exporting their works to the audiences. MovieBloc seeks to create an ecosystem with all film distribution participants (translator, designers, curators, reviewers, etc.), instead of becoming a simple content platform with content providers and consumers.