DECENT announced on Friday the official launch of its blockchain-based content distribution platform. The platform promises to offer a better deal for content producers than the current industry giants such as Apple and Amazon. It will also give artists more freedom and control over ownership and distribution.
DECENT Network will allow artists to efficiently distribute virtually any form of content, including written, music, videos, ebooks and pictures. The distribution does not rely on third parties meaning that artists will also manage their IP rights and pricing themselves.
The fee for each transaction is transferred fairly and almost instantly to the artist’s account after each transaction. Artists will no longer have to wait months before seeing a penny from their work. At the time of launch, DECENT Network will be a completely free of charge service for artists and consumers. DECENT’s purpose-built Blockchain will also ensure trust and security for all its artists.
“DECENT Network is a reaction to the issues that the majority of content producers face nowadays in the entertainment and media industry”, said Matej Michalko, DECENT Founder and CEO. “There is too much artificial complexity and too many barriers in the industry affecting both the access to market and income of the content owners”.
The entertainment and media market is huge but it remains very tough for artists. DECENT estimates that writers lose between 30-75% of their profits when publishing with Amazon. Similarly, a musician loses around 30% when they sell a track on iTunes. DECENT offers an alternative model which puts profits directly in the accounts of content creators with the elimination of third-parties and middleman fees. This could free up a huge chunk of spending in the global media and content distribution industry; the current level of spending is estimated to grow from $1.7 trillion in 2016 to over $2 trillion in 2019.
“The majority of the power”, Michalko explains, “is concentrated in the hands of a few players controlling the industry. Artists, filmmakers and writers lose control over their work and depend on the mercy of the ‘big guys’. We designed DECENT Network to do away with all that and bring more transparency and fairness to the digital content industry. ”
The majority of the content distribution market is dominated by the big players leaving artists at the mercy of these companies. There are currently some competitors also developing a blockchain-based solution to this issue . SingularDTV is focused on the movie industry, Ujo Music on audio content, and DNN.media on decentralized news network. Unlike its competitors, DECENT has developed its own blockchain specifically to incorporate every format imaginable – all under one roof.
For more information, visit decent.ch.