Imagine you make a movie, and want to make money letting people stream it and buy digital copies of it. Right now, you’re going to be managing it through iTunes, Youtube, Vimeo, and a few other places.
What if it could be easier than that? What if it was as easy as registering a keyword for your movie (like those old AOL keywords) and uploading your video? You set the purchase price, and the streaming price, and that’s it.
LBRY Is Here
LBRY.io is the answer to all of this. First upload your content. It gets sliced into little chunks and distributed to LBRY hosts all over the internet. Then you reserve an address, and write up the details about the content. Finally, you set the prices – your rental and purchase amounts.
That’s it. You’ve just published your first major motion picture on the internet for anyone to watch, and you will be making a profit.
How Is This Possible?
Well, LBRY.io uses blockchain technology to track the distribution of files. Your viewers also host your content for you (and get paid a cut for the hosting too). Systems for dedicated hosts are being developed. This will allow for massive content distribution networks that rival Netflix to be built.
The greatest benefit of this is that it takes the power away from companies that get rich off the work of others. Instead, the people who create the work have the power. They decide the price of their work, and where it can be published. Content creators can also implement DRM if they choose. This means that greedy record label executives don’t get their massive cut of the profits. The creators don’t need to charge as much to still make a living, as a result the cost to consumers decreases too.
So head over to the LBRY site, sign up for beta access, and read the Essay on how it all works.
Great intro to LBRY, thx!