A new video streaming service named TaTaTu has a plan to reward its users, help content owners monetize and alleviate piracy concerns by using blockchain.
AMBI Media Group co-founder and CEO Andrea Iervolino said the new service is a combines typical VOD and social media features and will offer up tokens to users in exchange for viewing content on the platform. The tokens will also serve as a way for marketers to advertise on the platform.
“Social networks and entertainment platforms are making huge profit by gathering data from their users and selling to other corporations without rewarding their users. TaTaTu will finally give its users the possibility to be rewarded for their social daily entertainment activity. There is a need for a platform to provide higher levels of transparency to their users, brands and rights holders about the revenues generated and monetization of users. Audiences need free, legal and quality content with a simple user experience,” Iervolino said in a statement.
Iervolino said he wants TaTaTu to have one billion subscribers within the next six years. The company has put together a team of 250 developers and a dedicated blockchain staff to help support that goal.
TaTaTu’s content will largely come from the AMBI Media Group library, which includes that Exclusive Media Group film library that AMBI acquired in 2015.
“Where most content platform business models are based on making the final user pay for content, generating a market for illegal content monetization and therefore less revenues for content owners, TaTaTu is listening to the marketplace and adapting—giving free access to content and going a step further to reward users with an automatic monetization system,” Iervolino said.
Iervolino told VentureBeat that TaTaTu is looking to acquire more content. He also said he believes his service isn’t competing with Netflix or Hulu because it doesn’t use a subscription or advertising model.