- ProducerBazaar is a blockchain-based online marketplace addressing transparency problems in the movie industry.
- Filmmakers' challenges like funding, diverse audience reach, and revenue sharing are tackled by Producer Bazaar.
- Founded by Senthil Nayagam and GK Tirunavukarasu, the company collaborates with betterinvest.club and is supported by the SISFS Government of India.
Ever wondered, what would happen if movies stopped streaming? If directors are not able to direct because of the lack of sponsors, would we be left with an empty watchlist on Netflix? Or will it be a pandemic time for theatres? Well, let's not wonder about it anymore.
I love watching movies be it English, Hindi, or any other regional language. No, I am not one of those who knows all the languages but rather a keen interest in watching films even if it's dubbed.
But honestly, today’s generation has always involved themselves in the entertainment industry and influencers are earning money, even if the movie doesn't. Well, if it is fair or not, I'll leave it up to you guys for some other day.
We all know, that the entertainment industry lacks transparency be it from gossip to sponsors, from casting to storylines, it's all a mess with a twitch of drama in our lives. I mean, isn't that why the news show on ABP News ‘Saas Bahu aur Sajhish’ is a favorite of all time? Or maybe even the hype of who is going to be in the ‘BiggBoss’?
But for a change, let’s shift from viewers to filmmakers. As a filmmaker or a producer, the list of problems that I would have after making the film, with a great idea, casting dialogues, etc. is never-ending. Well, here are a few just to mention:
- Funding issues because not every man with a spectacular idea has the resources to sell it.
- In order to expand or help my movie reach a diverse public, I would need investors who could support dubbing, subtitling through promotions, and most importantly, access.
- In order to ensure the profits, I would need my finances straight along with the revenue share which is required to be given to Content Analytics and Revues for Content Creation.
- Languages are not the only medium to expand but rather even OTT platforms are a great opportunity to grab. In order to achieve that, I would require help with tech, payment, promotions, and content for launching on the platform or even my own OTT platform.
- If I have to save myself from the trouble of being sued or copyright violation I would need an up-to-date system and processes as well.
With all the never-ending problems, comes a solution which is Producer Bazaar. It not only resolves all of these problems but a major one which is in regards to IP (Intellectual Property) rights.
As per their website - They plan to solve the issue of a Movie IP rights marketplace by allowing filmmakers to list their movies and all available rights and buyers can preview the movies and license the content for their use cases. (Source: ProducerBazaar)
What makes it unique?
Produce Bazaar is the first ever unique online marketplace to buy, sell, and negotiate movie rights digitally with the help of blockchain technology. Ensuring transparency in movie-related deals is its vision.
Produce Bazaar is the first ever cutting-edge internet marketplace where movie rights can be digitally purchased, sold, and negotiated. Its aim is to guarantee transparency in movie-related transactions.
Their crazy purpose is to maintain an unrivaled level of authenticity while generating a badge of riches for the brilliant minds in the Indian film industry through the utilization of intellectual property rights in a mind-blowingly inventive way.
If I ever were a filmmaker I would hold on to my sequin hats because the parent firm of ProducerBazaar.com, the one and only NFT Creator Economy Private Limited (NCEPL), has received a staggering capital infusion from none other than the SISFS Government of India.
Guess what, too? They even have the coveted Startup India group's seal of approval. How amazing is that? The recent news also suggests that they have collaborated with betterinvest.club in order to help film producers make money at a discount after they have struck OTT, audio, satellite, and dubbing rights. (Source: Ragalhari)
Let's find out how it all started
This angelic company has grown a lot within 2 years since it was founded in July 2021. The founders of the company, two friends Mr. Senthil Nayagam, and Mr. GK Tirunavukarasu, were casually having a cup of coffee at the clubhouse, where their minds opened towards creating something different in covid times.
Now Tirunavukarasu being a film producer, the idea had to be somewhere related to the profession. Both of them decided to address the practical difficulties of Indian Film Creators to leverage their Intellectual Property Rights. (Source: ProducerBazaar)
I believe that the company has chosen to be the representative of the most vulnerable sector of the film industry which requires support at the cost of trust, faith, and money of course.
If in the coming years, Producer Bazaar manages to get more Bollywood movies interest - I think the day isn’t far when even aspiring filmmakers will start earning and reserving their ideas.
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Edited by Shruti Thapa