Why Every Creator Should Care About Web3 Right Now
For decades, a few powerful groups have dominated the entertainment industry. Studios and networks have decided what gets made and how revenues are split. In doing so, many talented creators have lacked the funding or creative control to bring their ideas to life. But things are set to change. New technologies have the potential to give power back to creators and even the fans themselves.
When it comes to disrupting the entertainment industry, streaming stands out as the obvious example. Netflix, Prime Video, Roku and others have changed how people consume media and the type of content that is trending. As of July 2023, streaming services became the predominant medium for viewers, accounting for over 38% of total TV viewing time.
It's not just the format that has evolved. Streaming has also changed the way people discover new shows or movies. Most famously, Squid Game became the most-watched show of all time on Netflix, generating over 900 million viewing hours in less than 15 days.
A South Korean series dominating English-speaking markets would have been unlikely before. Now, it's common to see non-English speaking shows thrive on streaming. Money Heist, Lupin and All of Us Are Dead are just some of the non-English speaking series that have gained traction through streaming. By having a wider range of choices for consumers, new shows can be discovered, and fan bases can be built.
But it's not all good news. With the rise in popularity, the bar for success has also increased, meaning shows that don't make the cut are quickly axed. From The OA to........
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