Producer Bazaar - Market of Movies and Makers
ProducerBazaar is a blockchain-based online marketplace addressing transparency problems in the movie industry. Producer Bazaar was founded by Senthil Nayagam and GK Tirunavukarasu.
The company addresses challenges faced by filmmakers, including funding, reaching diverse audiences, revenue sharing, technology, payments, promotions, and intellectual property rights.
Filmmakers face several challenges after making a film. These include:
- Funding: Not every filmmaker with a spectacular idea has the resources to sell it.
- Audience reach: Dubbing, subtitling, promotions, and access can help a movie reach a diverse audience.
- Revenue sharing: Filmmakers need their finances straight and revenue-sharing arrangements connected to Content Analytics and Revues for Content Creation.
- OTT distribution: Launching on an OTT platform, or creating an OTT platform, can require support with technology, payments, promotions, and content.
- Copyright compliance: Filmmakers need an up-to-date system and processes to reduce the risk of lawsuits or copyright violations.
Producer Bazaar is presented as a solution for these challenges, including intellectual property rights.
According to the ProducerBazaar website, the plan was to create a movie intellectual property rights marketplace. Filmmakers could list their movies and available rights, while buyers could preview the movies and license the content for their use cases.
What makes Producer Bazaar different?
Producer Bazaar is described as an online marketplace where movie rights can be bought, sold, and negotiated digitally with the help of blockchain technology. Its stated vision is to ensure transparency in movie-related deals.
The platform is also described as a marketplace for digitally purchasing, selling, and negotiating movie rights. Its stated purpose is to maintain authenticity while generating opportunities for people in the Indian film industry through intellectual property rights.
Producer Bazaar, NCEPL, and government support
The parent firm of ProducerBazaar.com is NFT Creator Economy Private Limited, also referred to as NCEPL. The article states that NCEPL received support from the SISFS Government of India.
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The article also states that the company had the support of the Startup India group. Producer Bazaar collaborated with betterinvest.club to help film producers monetise OTT, audio, satellite, and dubbing rights at a discount after those rights had been secured.
The collaboration was reported by Ragalhari.
How Producer Bazaar started
Producer Bazaar was founded in July 2021 by two friends, Senthil Nayagam and GK Tirunavukarasu. The article says the two discussed creating something different during covid times while having coffee at the clubhouse.
GK Tirunavukarasu was a film producer, and the idea was connected to the film industry. The founders decided to address practical difficulties faced by Indian film creators in leveraging their intellectual property rights.
More information about the founders and the company is available on the ProducerBazaar website.
What Producer Bazaar aims to address
Producer Bazaar focuses on the problems filmmakers face in funding, distributing, monetising, and protecting their work. Its marketplace model brings movie rights and licensing into a digital platform supported by blockchain technology.
The company also works with betterinvest.club and has received support from the SISFS Government of India.
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