Blockchain For A Greener Digital Media Ecosystem: Securing Content And Supporting Sustainable Royalty Flows

Abstract

Digital Piracy continues to be at the forefront of issues faced by the artists and creators in the media and music industry. This leads to loss of revenue, lack of proper ownership record of digital content, and a lack of automated royalty management. Blockchain offers a promising solution for this issue by enhancing security, transparency, traceability, and royalty management. This paper studies the role of blockchain in addressing vulnerabilities posing for digital content protection and automated royalty management. The research proposes an Automated Blockchain Royalty Model to assess the effectiveness and feasibility of Blockchain implementations. Results showcase that blockchain technology improves digital rights management and reduces instances of unauthorized distribution. Tracing the true owner of a digital content takes not even a minute. Implementation of blockchain can offer new revenue opportunities for content creators. The potential trade-offs for the stakeholders in the media and entertainment industry are discussed in this paper.