The Rising Need for Technology Revolution in Images Industry
The main industry problem today is that the images market has no transparent and handy mechanism to efficiently track, control and manage copyrights of artist content i.e. visual digital assets like photographs, illustrations, video footages, and other media. This limits market growth and creates different legal and management issues for all market players.
Besides, the market is dominated by old-fashion marketplaces that charge up to 80% in fees. Artists and final customers are suffering from that, but have no other appropriate way to distribute and/or get the content for their creative projects.
Due to lack of a transparent visual digital content registry, it’s hard to say if particular work has been already used before or not; which geographical rights does it have and if it has other parts under the copyright or not. The list of possible legal issues could be very long and everyone who uses copyrighted content faces legal risks.
How does this affect the market
A few hundred thousands
A few thousand
A few million
What they do
Content providers (photographers, artists) create digital content and upload it to marketplaces. When a royalty free license is sold, authors get their share paid (with ~80% deducted as marketplace's fee).
Agencies work as brokers. They use quite similar collections of content to sell royalty free licenses to final customers. Lack of unique selling proposal makes them cover marketing costs with huge (around 80%) fees from all sales.
Content consumers purchase licenses from agencies. They use content in their products or marketing activities. Sometimes they approach content providers directly to buy licenses for exclusive content.
Low royalties do not inspire authors to create good and high quality content.
Content portfolios are difficult to manage.
No solution for exclusive copyright sales/transfer.
No effective and fair procedures to protect copyrights of the works presented on agency sites, while some of them abuse their power.
High competition without unique market offer. Almost all content collections are not exclusive and often contain the same items.
High marketing expenses to attract consumers.
The infrastructure for digital content is complicated.
Have to resolve conflicts when copyright issues arise.
Difficult to find the content you need among the wide variety of similar items.
The authenticity of content is not guaranteed.
Impossible to get desirable license terms in one place.
No market for buying exclusive content rights, the transactions are costly.
Our company is focused on changing the current process of visual content management and licensing by using blockchain. In September 2018 we released an open-ended IPStock ecosystem powered by Smartlicense technology™ designed for content creators, consumers, agencies, and marketplaces.
IPStock ecosystem is a brand-new way of licensing visual digital content without the need for traditional agencies and marketplaces, as well as a means to store transactions history and royalties data in a transparent and unalterable way.
The distributed ecosystem is open for all market players, this is an infrastructure solution, a medium for visual digital content licensing. The solution democratizes the market, releases it from intermediaries dominance and make it effective, risk-free and transparent, which in turn leads to development and barrier-free growth of the market.
Each Market Player Benefits
The content providers will earn more money, better protect their copyrights, manage the whole portfolio in one place but license it via multiple channels around the globe in accordance with local regulations and content provider's preferences
The consumers who need a creative and copyright-safe content will get an authenticity-proven and cost-efficient access to both non-exclusive and exclusive content with transparent history and tailor-made licensing terms
Connected to the IPStock blockchain agencies will save time and money on building content collections (i.e. we lower market entrance cost) and start to focus on creating great products for their customers