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With the advent of the internet, independent film companies have come about readily, and this does not seem to be changing. Now, more than ever, the ability to make an independent film is accessible to pretty much any individual with a screen. Before this period, making films was reserved for big studios that were given massive budgets. Movies from these large studios are still responsible for the majority of the revenue earned in this industry, but independent films are beginning to make some noise. Film producers such as Heather Parry have seen this industry over the years, and it continues to evolve as time continues. Independent filmmakers have turned to solutions such as blockchains to receive proper forms of compensation.
Providing Faster Revenue Channels
Traditionally, there are a lot of channels independent film companies must go through before they receive compensation. Companies of this nature regularly receive publishing deals from bigger studios and are often the last entity to receive payment. With the introduction of Blockchain technology, this would no longer be the case. Independent film companies would receive more direct revenues, and these filmmakers would earn more money as a result. Since these individuals are responsible for the overall creative process that reaches the audience, they should receive compensation as quickly as the more prominent entities or even faster if possible.
Reaching Target Market Faster
Since consumers have an endless amount of options to choose from when it comes to visual entertainment, consumers often look toward independent companies to find new offerings. At this time, there appear to be a lot of remakes and sequels in the film industry. While these films are often engaging and draw large crowds, innovation in this space is happening in the independent film sector. With Blockchain technology, independent filmmakers can reach target audiences directly through partial ownership programs. With crowdfunding becoming a big part of the gig economy, many consumers look for avenues that can assist independent artists and filmmakers. As a partial owner, the consumer will become a part of the process and will recoup an investment in real-time once the film begins to make money.
At this time, you no longer have to go through more prominent channels for any form of entertainment. Films of all kinds are released each day from across the world, and this will only continue. For those who have a keen interest in the film industry, this is an incredibly exciting time for independent filmmakers. It is only a matter of time until Blockchain technology becomes integrated into this space.
Blockchain has changed the landscape of independent films. Super fascinating read.
Ryan