Potential opportunities and impacts of blockchain technologies on news media companies is the focus of a new report released today by the International News Media Association (INMA).
“Exploring Blockchain’s Potential to Transform Media” is a 35-page overview of blockchain possibilities for media companies, featuring:
- Blockchain and the future of news media.
- How news media companies are leveraging blockchain.
- How blockchain will change monetisation models.
The report, which is free to INMA members, breaks down what blockchain is and what applications it holds for the news media industry. It also looks at how the use of blockchain is transforming other industries and explains what we can learn and apply from those early experiments in the new technology. The report provides a glossary of key terms connected to blockchain.
Among the publisher case studies covered in the new INMA report are Time Magazine, South China Morning Post, USA Today, The New York Times, Vogue Singapore, and The Economist.
Key subjects covered in the report include:
- Blockchain and content rights management.
- Democratising content creator revenue.
- Redefining the media supply chain.
- Enabling new monetisation options.
- Optimising advertising revenue.
- Using blockchain to boost audience engagement.
Authors Zoltan Vardai and Jeanhee Kim of Hong Kong-based Forkast, a digital media platform covering blockchain and emerging technologies, look at the early experiments with NFTs to paint a bigger picture of how media companies may enter the fast-emerging world of Web 3.0, where the path between creators and consumers vanishes.
“This report is designed to be an executive briefing on blockchain opportunities for the c-suite at news media companies,” said Earl J. Wilkinson, executive director and CEO of INMA. “These are early days for blockchain, NFTs, and crypto in terms of practical applications to media companies. INMA aims to broaden and deepen the news industry conversation with this opening salvo.”
“Exploring Blockchain’s Potential to Transform Media” is free to INMA members and available for purchase by non-members. Click here to access the report.