A New Era of Opportunities for Broadcasters

July 27, 2023
5 min read

We stand on the cusp of a technological revolution that's set to change broadcasting as we know it. This exciting shift will be powered by Web 3.0 and utilisation of the blockchain, also known as the "decentralised web", creating a brand new, streamlined and highly efficient new operating model for storage, distribution, monetisation, and tracking of content across digital platforms.

Today's Broadcasting Landscape

The broadcasting industry has seen a seismic shift over the past decade or so. Terrestrial broadcasters have watched streaming platforms like Netflix, Amazon Prime, Disney and Paramount take a significant share of viewing time, as content consumption habits have shifted.

Web 3.0: The Dawn of a New Broadcasting Era

Web 3.0, powered by blockchain technology, is creating new opportunities for broadcasters. This is the time to reshape the broadcasting ecosystem, through new processes that enable more accountable, transparent, and innovative processes, enhancing internal operations, as well as creating limitless new ways to engage and monetise audiences.

Enhanced Content Distribution

Enabled through Web 3.0 and blockchain technologies, broadcasters are able to vastly reduce their OpEx costs, replacing Cloud Storage, CDNs, transcoding, multiple ingest and transcoding processes with a new revolution in content storage and global distribution through the Eluvio Content Fabric.

Innovative Monetization Models

Web 3.0 introduces novel monetization strategies like tokenization and microtransactions; unlike others in this space, Greenfish’s solution is not reliant on cryptocurrencies but has developed a financial transaction process, in real-time and most importantly with ‘real-money’ (FIAT). Broadcasters can now diversify their revenue streams by offering pay-per-view or per-minute models.

Enhanced User Privacy

In a world increasingly concerned with data privacy, Web 3.0's emphasis on user data sovereignty provides broadcasters an opportunity to build trust with audiences by respecting and protecting their data.

Hyper-Personalized Content

Web 3.0 technologies like semantic web and AI can create highly personalised content recommendations. Broadcasters can leverage these technologies to better understand their audience and tailor their content strategy accordingly.

Audience Engagement

Web 3.0 transforms passive viewers into active participants. Broadcasters could involve their audience in content creation and governance processes, creating a more engaged and loyal viewer base.

Trust through Transparency

Web 3.0's transparent nature ensures accountability, a crucial aspect for building viewer trust. With clear, verifiable records of content creation and ownership, broadcasters can protect their intellectual property and ensure proper content attribution.

Facing the Future

Web 3.0 presents promising possibilities but also comes with its own set of challenges, including technological scaling, user experience, and regulatory adaptation. However, the potential benefits far outweigh these hurdles.

In essence, the advent of Web 3.0 marks the start of a transformative journey for the broadcasting industry. By embracing this change, broadcasters stand to gain a competitive edge, foster deeper viewer relationships, and tap into innovative revenue streams. The future of broadcasting is here, and it's decentralised. It's time for broadcasters to tune in and ride the wave of Web 3.0.

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