The online entertainment industry has been rapidly growing, with a lower barrier to entry and more consumers than ever. From the first online stream in 1993, which happened to be a band of punk rock computer scientists that used up half of the available bandwidth of the entire internet, to teenagers of generation Z wishing to have youtube careers.  From the household names like Blockbuster or LoveFilm in the early 2010s, only to fizzle out to the next stars of on-demand entertainment, Netflix or Amazon Prime.

Soon after, on-demand entertainment was the beginning of the next cold war in the mid-2010s, where on-demand streaming sites such as Netflix, Amazon, HBO, and Youtube, amongst others, fought over your dilated pupils. Since the beginning of online entertainment, the barrier to becoming a creator has lowered year after year, enabling the average individual to become a creator and generate an income or even create their own online entertainment companies. But where do the consumers lie in this?

One-Click Demand

In the past few years, we have seen people transition into youtube careers and DVDs box sets turn to on-demand TV. In a world where music, videos, and books are available on demand through a few simple clicks, it's an unforgivable mistake not to have your entertainment available to your viewers on demand.

Gone are the days when you would come home from school or work and wait to see “Countdown” or “Deal or no Deal” on your TV. Are you bored? Slap on some Netflix. Want to dance? Spin some tunes on with Spotify. Need a new book? Download one on your kindle!

As a society, we are now subject to an overdose of entertainment. We are spoilt by choice. The issue is no longer,

“Do I like what is on TV?”

To

“What should we watch?”

Consumers Control the Show

Due to the overload of on-demand entertainment, creators fight for our attention. In 2020, the average person in the UK spent up to ⅓ of their waking hours watching TV or online entertainment daily. We, the consumers, as a whole, indirectly decide the future of these shows, sequels, or seasons. Whether we watch a portion or the entire section, we contribute to a behind-the-scenes discussion to determine the continuation. Communicating our preferences for a show can be based on watch time and social media support, amongst other factors.

Similarly, YouTubers can gather information from the likes and comments of a video to understand their audience's taste for specific videos. Does the audience want more “Content A” or “Content B”? This data, along with the youtube analytics, can help shape a YouTuber's Video Series and contribute to their success. If a Youtuber notices that a specific series of theirs is gaining more traction, then it would make sense to continue with these series to gain that clout.

Some series even get so popular that cast member(s) can spin off their own YouTube Channels from the popular BuzzFeed, such as “The Try Guys” or “Worth it.”

Consumers drive the direction of online entertainment. Whether it is YouTube or Netflix, the audience plays one of the biggest factors.

Web3 Online Entertainment

So how will Web3 cross-pollinate with online entertainment? One pathway would be for people to become owners of Creators, TV Series, or Films during the stages of creation. This allows die-hard fans to show belief in their conviction of creators. Currently, fans have no way to show ownership of being early to online entertainment besides providing online proof on social media.

We are proud when we see our favorite TV shows or creators gain clout, especially when we are early supporters. NFTs, POAPs, or even tokens could provide this verifiable proof of our support.

Creator tokens could unlock NFTs that provide unique experiences or merchandise. YouTubers could even tokenize themselves and reward viewers for watching their videos. In return, these tokens could be used to financially support a YouTuber’s career while enabling holders to speculate on a YouTuber's career. This would turn YouTubers into an investment market.

New online series could offer seasonal NFTs that provide ownership of each season, distributing revenue and unlocking unique experiences. As a Peaky Blinders fan since Season one (It is based on my city, after all), I would have loved a POAP to show my early support for the show.

Beyond the Screen

Web3 online entertainment will be a massive change for the industry. Still, I think it will only occur once the current web3 UX problems, such as wallet onboarding, wallet safety, and interacting with the blockchain, will be as seamless as our current experience in the traditional world. The convenience of being able to support a creator or show is nothing new; we have seen it with Patreon, Twitch TV, Substack, or even Kickstarter but the web3 experience needs to be as fluid as that.

As one of the largest contributing factors that creators get to live these lives, it is only fair that a creator's supporters are brought along for the ride. Supporters, consumers, or audience members should no longer be expected to support creators without any tangible evidence of their support. A supporter shouldn’t have to show their Patreon bill as a sign of support.