The Association of National Advertisers (ANA) estimates that only 30 to 40 cents of every digital media dollar actually reaches publishers and results in ads showing up. The rest, referred to as the “ad tech tax,” goes to a web of middlemen in every digital media transaction.
Blockchain has the potential to solve for these issues of transparency, ad fraud, and trust. In fact, just this week, IBM and Mediaocean announced the launch of a blockchain network for media deals.
Read on to find out more about how Blockchain is poised to transform the media and advertising industries.
What You Need to Know… Blockchain: A Media Game Changer
IBM and Mediaocean Launch Blockchain Pilot via AdAge
Big news out of Cannes Lions this week: IBM iX and Mediaocean have joined together to pilot a blockchain network for media deals. Blockchain time stamps transactions in a ledger visible to all participants, improving transparency, and preventing cheating or fraud.
Need to Know: What Blockchain Means to Media via Multichannel
2018 promises to be a big year in blockchain, especially in media and advertising. Widespread adoption of blockchain is expected in the areas of digital distribution and advertising payments, with the growing promise of providing transparency, and solving for the estimated 75% of ad spending lost through fraud.
IBM Blockchain Aims to Boost Unilever and Digital Media Ad Profit via Fast Company
Unilever, the world’s second-biggest advertiser has partnered with IBM iX, IBM’s business strategy division, to create a blockchain solution that aims to simplify the digital ad supply chain, provide transparency, and build trust – and they’re already seeing positive results.
Five Tips for Blockchain Investing in Media, Entertainment, and Advertising via Forbes
Many in the media, entertainment, and advertising industries are looking to investments in blockchain technology and cryptocurrencies. According to one source, the market spends $270 billion a year in digital advertising, with 40-60% taken by middlemen in the ad-tech space. Blockchain can help solve for these problems of trust and transparency.
Blockchain for Blockbusters: From Movies to VR Distribution Platforms, Media Is Embracing Decentralization via Variety
It’s not just advertisers who are warming up to blockchain. From startups, to big companies, and now, to Hollywood, the media industry is looking for ways to make blockchain technology work for them. And with blockchain at the core of digital currencies like Bitcoin, it may be a possible solution to decentralize the Hollywood business model.