According to Kommersant, MovieChain allows rights holders to independently post content, thereby reducing distribution costs. It employs blockchain technology – TVzavr claims it is the first such platform in the world – and was produced by TVzavr at a cost of $15 million.
The partners – France’s Celluloid Dreams, Gaumont, Memento Films, SND and TF1 and Italy’s Parche – are now expected to place their entire libraries on MovieChain, with titles costing $1.50 each to view.
Although TVzavr believes the platform will be of greatest interest to independent producers, it is also in talks with majors.
Competitors note that there is currently little demand art house movies. In the case of ivi, the OTT market leader, they account for only a 1% of its viewing.