MILC – Blockchain Project for TV Content Management

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Published: 30 Aug 2018 › Updated: 30 Aug 2018 MILC – Blockchain Project for TV Content Management

MILC – Blockchain Project for TV Content Management

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The era of television is going through regeneration with online broadcasting and VOD (video on demand) growing in popularity. When it comes to TV industry, the license agreements can be different because the standards and demands in each country differ. Since the TV business is international, there’s a large set of standards, which should be taken into consideration.

It goes without mentioning the complexity of rights for video use, and lack of transparency when it comes to prices and value of materials. Therefore, the TV industry faces a few challenges hindering its development.

Operating in the global 2nd TV market, Welt der Wunder TV, the company behind MILC platform, possesses its own TV stations, and various media portals. It’s a leading enterprise in the media niche that strives to facilitate distribution of video files making this process more efficient.

What is MILC?

MILC serves as a licensing, trade and sale video content platform, and was created for both creators and publishers. It is applicable to VOD, traditional and online broadcasting. MILC (micro-licensing coin) will serve as the internal token for making payments.

Which problems does it solve?

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Let’s see which issues currently exist in the TV industry, and how MILC deals with them:

There are different variants of the period of broadcasting, and the customer has to query them from the vendor.	MILC defines the most widespread broadcast periods as standards and still allows for individual discussion.
The question of exclusivity of access rights is also an acute one. The broadcaster may either allow other market participants to access the programs in the same region or limit it. This is what the price depends on: exclusive rights tend to be more expensive.	MILC provides different variations of the contracts, which helps both the consumer and the content maker come to a compromise.
Every usage type (web, IPTV, etc) is paid separately, and the choice plays a crucial role in price formation.	The project features usage templates for every usage type, and vendors can define these types beforehand. The buyers can see which usage kinds are available.
Sometimes, a purchaser needs to buy only a part of a video to use for his own work. But it’s not always possible, and the whole video has to be bought.	MILC offers templates for buying parts of video content. The agreements define the usagepattern, time frame, etc.
First broadcasting (on license) is usually more expensive than the consequent broadcasts.	Broadcast status will be updated and specified in MILC platform, and it fives parties the information about broadcast frequency.

How do participants benefit from MILC platform?

MILC platform is mutually beneficial for all parties, for example:

Content providers can get a better insight into the global market of their potential customers. The sales commission of 30-50% is eliminated, as well.
Content purchasers can work with the providers directly excluding the intermediaries. Therefore, they will need to spend less time to overview the offers: contracts and individual agreements can be negotiated quickly.

Both types of participants enjoy a low fee of 10%, detailed categorization of videos, and other perks. MILC makes it possible to find available materials for an agreeable cost.

The role of blockchain in MILC

The key advantage blockchain has for MILC project is leveraging of smart contracts. They allow for automatic, totally law-compliant agreements that come into force as soon as certain conditions are met. Besides, blockchain technology means transparency at every stage of work. Thus, the participants can get relevant information about the prices and templates. Usage types, both acquired or available are always displayed. Thanks to that, risks and expenses are minimal.

How is it used?

It should be mentioned that MILC is not just a marketplace and the app for contract conclusion. It also serves as the video storage service, so users can upload their content directly to the cloud. This video can be previewed by potential buyers.

The content creator can figure out a suitable smart contract that suits his/her requirements, and provide the content right via the platform. Files will be stored in a cloud (low-resolution copy will be available for preview). The purchaser, in its turn, selects the license options. The materials can be bought for both fiat and crypto. The inbuilt exchange will automatically convert virtual money into MILC tokens. As soon as payments are processes, the smart contract is triggered, and the content is released from the database to the consumer in real time.

Since MILC is the project of Welt der Wunder TV, it is backed up greatly and can be a risk-free solution for broadcasters and content providers. A low 10% fee makes is a great alternative to the traditional way of content acquisition.

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MILC – Blockchain Project for TV Content Management