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According To WarnerMedia CEO, Blockchain Is The Future Of Hollywood

CEO Jason Kilar said that the blockchain holds the key to the future of Hollywood as he prepares to leave WarnerMedia. Kilar played a key role in ushering the media behemoth into the streaming era. He has no intentions to retire, according to the senior IT executive.

Jason Kilar has spent his career in both Hollywood and Silicon Valley, and he believes that blockchain and other decentralized technologies will have a significant impact on the entertainment business, particularly when the purchase of unique digital artefacts like NFT becomes more accessible.

In an interview with Reuters, Kilar said: “I think that’s going to be a potential wave that’s going to be coming to Hollywood, in the same way that the DVD wave came to Hollywood in the ’90s.” 

Because he did not rely on a set of assumptions about how television should function in order to succeed, the former Amazon.com executive was chosen to lead the company’s streaming service.

Hulu, which had previously been dubbed “ClownCo” by critics in the blogosphere, experienced a meteoric rise in popularity within two months of its launch in March 2008. Kilar left Hulu in 2013 after the company’s owners, the former News Corporation, NBCUniversal, and the Walt Disney Company, pushed for more advertising and the elimination of the free version of the service.

Kilar founded Vessel, a social media content subscription video service that was eventually acquired by Verizon in 2016.

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This interaction inspired him to implement measures that had the potential to change Hollywood. When confronted with closing theaters and rising internet competition, Kilar disrupted the traditional distribution windows for films, which had historically carried movies into homes following lengthy showings in cinemas.

Kilar launched new films in theatres and on the HBO Max streaming service on the same day during the pandemic, a first for the firm. Following the release of “Wonder Woman 1984,” which occurred on Christmas Day 2020.

The choice ensured that the service received a continuous stream of new entertainment at a vital moment when the outbreak had impacted production schedules across the industry. It also contributed to the creation of HBO Max and the expansion of the HBO cable television network, which witnessed a 73.8 million increase in users.

The recent statements of a movie industry executive about the influence of blockchain and NFTs on that business are noteworthy. It demonstrates that an increasing number of businesses and industries are embracing technology and that it is no longer a myth for them.