Blockchain

New platform aims to disrupt media production funding

Changing media production with community-led funding helps creators take control and see more benefits.

Today, the future of content production is ripe for disruption. With advances in technology and the rise of a generation of influencers, the skills of content production have been adopted en masse. Individuals and groups are now producing valuable streams of all forms of content across multiple channels, including YouTube, Instagram, Twitch and lesser-known distribution channels.

This has seen a devaluing of the content itself. Although the creator is putting a lot of time and effort into the production process, it is often the case that the commercial return does not reflect this effort. How do we ensure that the creator and audience engaging with relevant forms of content are rewarded for their time? 

As demand for more professionally produced content grows, the rewards for the producers must also change and grow. 

Empowering content creators

With increased innovation and the surge of interest in decentralized decision-making, media content curation is slowly being handed back to the public. The Flickto platform sees this as a key opportunity to add more diverse streams of content and help to fund the smaller creators that are currently being locked out of the bigger picture. With new ways to fund the creation and distribution of content, there are new opportunities to effectively reward the creative economy.

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Content collaboration as a key component of future content

Many creators that wish to produce successful series or the next box office hit stumble upon finance blockades in each step of the process. With the rise of streaming giants like Netflix and Amazon, the cost of production and budgets required for high-quality content has soared. According to Variety Magazine, heavyweights like Stranger Things cost an estimated $6 million an episode, and Netflix’s period drama The Crown cost an estimated $10 million an episode. For modest creators just starting out in their production journey, these figures can seem overwhelming. 

The FlickTo platform is allowing users to get involved in the creative process, taking advantage of the DAO mentality whereby you see decision-making and choice spread amongst the community. Furthermore, the community is rewarded for collaboration after participating through staking as a way to utilize existing DeFi services within a creative setting. 

Unique ways to raise funds for media projects 

Unique staking mechanisms via Cardano (ADA) will allow media producers to raise extra funds and allocate finance to various projects. Funding for great media projects should not be heavily reliant on a few key financial backers. Flickto also aims to give users a stake in the content creation process and get involved in the financial opportunities arising from a successful media project. 

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“It’s time to change how media projects are financed. Flickto is the first Cardano-based media project launchpad, funding the next generation of Film, TV and Streaming content creators,” the team shares.

More insights from Flickto here

To solve the barriers to entry that currently exist with some of the bigger media streaming platforms, Flickto aims to support the financing of media production from the ground up with various DeFi services and backing projects from storyboard stage to production to talent support and distribution.

Established director Ben Morris who has directed British hits such as Holby City and producer Geraint Havard Jones who has produced Keeping Faith, have partnered with the platform to provide unique insights into the media industry. To date, they have over 4.3 million ADA staked in their Cardano stake pool, demonstrating a clear commitment to the project from the DeFi community. 

Learn more about Flickto

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.

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