Contents Protocol is big data analytics platform in the entertainment industry. It distributes data to content providers like Hollywood Studios for better content production and compensates users for providing the data.
Data in content ecosystem includes content consumption data, user review data and user demographics data. Consumption data comes from content consumption activities such as viewing and streaming, and user review data comes from ratings and comments.
Although data are crucial for content providers to determine how each title performed and use the insight for future content production or distribution, content providers at the moment are not receiving such information from streaming services. On the other hand, streaming services either are not making much use out of the data accumulated on their service or are using it in a limited scope, solely for their own benefit.
Contents Protocol uses blockchain technology to transparently share data with content providers. The data Contents Protocol distributes will be processed from raw data collected from users on streaming platforms. The analyzed data will be shown in a curated format on Contents Protocol’s data analytics platform called “Data Dashboard.” Examples of data analytics shared would be “This movie is popular among men in their mid 30s” or “30 percent of viewers stopped watching the episode after 15 minutes.”
In servicing this data analytics service in the entertainment industry, Contents Protocol is creating its own token economy. Contents Protocol Token (CPT) is the name of the token, and as Contents Protocol works with content providers and streaming services, payment could be made with CPT. Moreover, as users are the ones that create and provide data, they will be compensated in CPT for their activities. Once users receive CPT, they will be able to use it within the Contents Protocol ecosystem to purchase content or access related services. In short, the CPT content providers pay to access Data Dashboard will be distributed to streaming services and users.
This new project aiming to revitalize content industry is a new business launched by Korean startup WATCHA Inc. Founded in 2011, it currently has two services: content recommendation platform Watcha and subscription-based video streaming service Watcha Play. Watcha is available globally and supports English, Korean and Japanese. Watcha Play is currently available in Korea, with plans for global expansion.
Watcha has user base of 4.5 million across Korea and Japan. It has collected over 450 million ratings and review data on movies, TV shows and books, which allows Watcha to give better content recommendations through machine learning algorithm. Watcha Play is often referred to as the lead competitor to Netflix in the Korean market, with about 30 percent of local OTT market share. Since Watcha and Watcha Play are going to be first platforms to adopt Contents Protocol, user adoption is expected to grow rapidly from its initial stage.
After taking the first step with Watcha and Watcha Play, Contents Protocol will continue collecting quality data from various content categories such as music and comics. While Watcha and Watcha Play continue to be key participating platforms, other third-party content platforms will join Contents Protocol as well.