Fox Corp. operates the only one of the four major U.S. broadcast networks that isn’t tied to a major direct-to-consumer subscription streaming play. The company also is the only one among its peers that has launched a dedicated Web3 and NFT division. Those two things are related, says Charlie Collier, CEO of Fox Entertainment.
Source: Why Fox Is Investing Millions in NFTs and Blockchain Technology
The rise of NFTs, cryptocurrencies and other Web3 technologies is giving talent and content creators new opportunities to interact with fans, which open entirely new frontiers: Could fans use the intellectual property contained on NFTs to create their own content and ideas? Will artists start to sell their own videos, music and even long-form work directly to their followers?
Source: How Quentin Tarantino’s Battle to Own ‘Pulp Fiction’ Exposed the Digital Rights Minefield
What is Web3? And perhaps just as important, why did seemingly everyone in entertainment, finance, media and law start talking about it at cocktail parties and mixers as those trappings of pre-pandemic life came back into play? The answer is the only thing that is clear about the world of Web3: Money.
Source: Ready or Not, Here Comes Web3: How the Internet’s Next Evolution Is Shaping Hollywood’s Future
We’ve unearthed an old US patent filed by Singapore-based TikTok Pte. Ltd in May 2018, and granted in January 2021, for a “Method of enabling digital music content to be downloaded to and used on a portable wireless computing device.” The filing claims further that “this invention,” called the ‘Music Station’, has the promise of being genuinely transformative of the way people acquire and listen to digital music.”
Source: TikTok owns a patent for a music service – and it’s hiring for ‘TikTok Music’ staff.
Web3 has become the most sought-after investment sector of 2022, as use cases for nonfungible tokens (NFTs), the Metaverse and other blockchain applications come to fruition. Therefore, it shouldn’t come as a surprise that different segments of the publishing industry have begun to use Web3 technologies to transform traditional models.
Source: Blockchain and NFTs are changing the publishing industry
If you’ve never heard of Forgotten Runes, that’s probably because you don’t spend your nights surfing NFT marketplace OpenSea. It’s an NFT collection that launched last July and consists of just under 10,000 fantasy characters. The question is simple: Is it possible for a show based on NFTs to cross over to a mainstream audience that may not even know what those three letters stand for?
Source: Hollywood’s Next Hit Could Be Based on an NFT — And You’d Never Know It
In the music industry, as artificial intelligence (AI) creative technologies become more common, the question of AI authorship is particularly important. AI systems have the potential to cause disruption in the music industry, and the music industry must adapt and incorporate this new technology. The idea that a picture tells a thousand words is especially apt when one attempts to outline copyright and authorship issues for works created by AI.
Congress is set to depart for its August recess soon without acting on a bipartisan antitrust bill targeting the largest U.S. technology companies. Senate Majority Leader Chuck Schumer (D., N.Y.) plans to hold a vote on the legislation when Congress returns this fall. But the shrinking number of legislative days available plays to the advantage of the tech companies, which can declare victory if Congress doesn’t act.
Source: Antitrust Bill Targeting Big Tech in Limbo as Congress Prepares to Recess
A migration of Oxford University Press‘ books as well as journals to the online platform Oxford Academic announced Wednesday (August 3) is expected to “further streamline access to high-quality scholarly content,” according to media messaging. At this point, the company writes, more than 42,000 books and more than 500,000 chapters have been uploaded to the site, which already hosts some 500 journals and roughly 3 million articles.
Source: Oxford University Press Is Migrating Its Catalogue to Its Online Platform
Textbook publisher Pearson plans to profit from secondhand sales by turning its titles into non-fungible tokens (NFTs), its chief executive has said. Educational books are often sold more than once, since students sell study resources they no longer require. Publishers have not previously been able to make any money from secondhand sales, but the rise of digital textbooks has created an opportunity for companies to benefit.