This experience will likely resonate with a lot of you, visiting your local cinema only to cringe at a price for two tickets to a new release. Forget buying a drink or popcorn, that’s now for the one percenters.
If you feel like the industry is suffering you’d be correct, overtime ticket prices for consumers have skyrocketed. Adjusted for inflation the average price for a cinema ticket in the 90s ranged from $4.20 to $5.00 the average price for 2018 $10. (source)
There is a myriad of different factors contributing to the inflation in prices the main culprit being that cinema chains are being forced to pay higher and higher fees to studios during the opening weeks.
Couple this with the stagnating attendance, pressure points are forming, and ultimately both the consumer and the producer, i.e., the filmmaker are suffering.
This is partly why streaming services such as Netflix, Amazon, and Hulu are shaking up a stagnating and over bloated industry.
These are the only outlets that are providing any variety to its consumers as their payment model runs on subscriptions and not ticket sales. This leaves the consumer with an overpriced ticket to a poor variety of movies.
Tackling the problems listed above is Reel Cash a digital currency specifically designed to cater to each sector of the filmmaking ecosystem.
Firstly users will be to join the Reel Cash platform enabling them to sell their viewing data and participate in both focus groups and audience testing after the production of a film.
Studios will then be able to purchase the data that for so long has only been available to streaming services such as the previously mentioned Netflix and Amazon.
The hidden benefit of this platform comes in the service it can provide to independent filmmakers. Traditionally filmmakers would have to raise a budget through the sale of private equity and international pre-sale agreements.
With the use of Reel Cash, much of these issues can be alleviated. Reel Cash is planning on providing filmmakers a global platform where films can immediately generate revenue.
On top of this filmmakers will be able to fund their projects via the Reel Cash platform allowing them to avoid selling off any distribution.
Unlike current streaming platforms such as Netflix and Amazon films financed and distributed via Reel Cash will be able to share in the proceeds generated by the Reel Cash cryptocurrency.
Finally, Cinemas that show films produced via the Reel Cash platform will be able to keep 100% of the revenue generated from ticket sales.
This is done in exchange for advertising support from the cinemas aligning the interests of both the cinema chains and the filmmakers.
The token itself will be built on the Stellar platform and have a maximum total supply of 8,000,000,000.
70% of which will be sold via a phased roll-out and distributed to users of the platform.
If you are confident that the problems discussed will slowly fade away take it from Variety “Anyone in the movie business who tells you they’re not scared stiff about the future is probably lying.”
Token launches this Wednesday, July 25 at 1800 UTC learn more about the ICO project as well as the related information here.
Disclaimer. The Cryptograph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as investment advice.