Blockchain technology is Hollywood’s worst nightmare.
Blockchain technology has a flourishing community of innovators in Western New York. It also is the future of media distribution and the source of nightmares for the Hollywood establishment.
Currently platforms like Amazon, iTunes and Google take 30% commission and offer nothing but top tier competition for that fee. The remaining revenue then passes through a ‘royalty waterfall’ of quarterly disbursements issued by 3rd party platforms, distributors and sales agents. This obsolete cash flow funnel, wrought with fraud and waste, is an open secret simply referred to as ‘Hollywood Math’ or ‘Creative Accounting’. Blockchain eliminates the 30% commission and simultaneously cleans up the financial fraud in the entertainment industry.
Blockchain has the ability to completely decentralize Hollywood by encoding transparency and accountability into the DNA of entertainment business. Smart contracts provide the ability to automate royalties and revenue disbursements at the point of sale using micro transactions. Blockchain completely eliminates ’Hollywood Math’. The transparency built into a blockchain network ensures everyone has access to the same sales figures and audience statistics. That kind of information is critical to making sound investment and development decisions. Which is why it is currently the most guarded and manipulated information in the industry.
Imagine a community-owned blockchain studio that invested in local artists and provided them the tools and resources to deliver their best work. This ethical and efficient infrastructure could not only finance those productions but also market and distribute them with a coordinated and professional release schedule, just like the major studios do now. The power of blockchain technology makes all of this possible without preying on the creators need for a support system.
Imagine the community pride that would come from being able to go to the local full-service studio, grab a pint of Flying Bison or a cup of Tim Hortons and look down from an observation deck at rising local stars shooting the next great blockbuster. The best part? You own a small piece of the project and the facility. Think of it as the Green Bay Packers of movie studios.
Imagine the city buzz and parties surrounding each big release from the best talent the community has to offer. With a model like this, all forms of digital entertainment and technology can be supported by a community-owned infrastructure.
This is what Gratwick has been working to bring to the region for the past decade. YOU decide whether this idea succeeds or is ’too big for Buffalo’ as I’ve been warned in the past.
Will you support it, will you take ownership of it, will you help promote it? Most important of all, will you be a part of helping keep it accountable to what it exists to do; provide the tools for our own sustainable entertainment industry.
By investing in our local artists, we are investing in our community, in our businesses and most importantly in ourselves.
Please consider becoming a Gratwick ally for our vision by following, liking or subscribing to our social media platforms. If you want to be active and involved in our efforts jump into our community discord server and say Hi!