The MoviesChain by TVzavr platform, designed to decentralize movie distribution, will be presented at the Hong Kong International Film Festival that opens on March 19th. It is being held parallel to the international blockchain forum TOKEN2049. The creators of MoviesChain are counting on great interest among Asian filmmakers and businessmen for their product.
MoviesChain by TVzavr is one of the first blockchain-based projects for the film industry. The service connects film producers and viewers, significantly reducing costs incurred for marketing and distribution. First and foremost, the platform opens new opportunities for independent filmmakers by offering them a clear and financially attractive plan for distributing content on online platforms and removing intermediaries from the movie-to-viewer chain. This means that fans will be able to watch movies almost immediately after they premiere at festivals.
TOKEN2049 in Hong Kong is considered to be one of the biggest meeting places for developers of promising services for the business community. MoviesChain by TVzavr will be representing Russia, a country that experts say is going through a blockchain boom.
Alongside TOKEN2049, the Hong Kong International Film Festival will showcase MoviesChain by TVzavr to Asian filmmakers who will be able to benefit from the platform.
TVzavr’s Content Director, Elena Khlebnikova, says, “We believe that the Asian film market will be very interested in the MoviesChain platform. While it is somewhat easy for European and American studios to work through distribution companies, their Asian colleagues do not always find success in this. Many films from famous directors remain unknown to regular viewers. Films that make it to theatrical release and online theaters are typically prize winners at top international festivals. This is, of course, a specific niche, but there is demand for this niche nevertheless. Asian content accounts for 30% of TVzavr’s video channel of films from independent studios. There are plenty of regular subscribers. This is why the market segment covered in Hong Kong is extremely interesting when it comes to making arrangements with content providers.”
The MoviesChain platform was developed by TVzavr, one of the largest players on the VOD (video on demand) market in Russia. TVzavr is considered to be a global key driver of paid television, other segments of which are currently experiencing a crisis. According to Leichtman Research Group (LRG), the biggest paid television providers in the United States that occupy about 95% of the market lost about 1,495,000 subscribers in 2017. Demand for VOD services is growing every year, as certified by TVzavr’s results. The company’s services currently have 30 million permanent unique users. This number increased by 25% in 2017 and TVzavr’s annual revenue amounted to more than $10 million, showing a two-fold increase. Additionally, profit from content sales grew 3 times and that from advertising grew 45%.