Growth in the Digital Rights Management Space Leads to Market Opportunities
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NEW YORK, Jan. 14, 2021 /PRNewswire/ -- A volatile global economy and a rapidly growing digital content space are inflaming the need for comprehensive and responsible services that protect digital property in order to keep the creation of digital video, games, music, and other types of content financially viable. The global market for digital rights management services is set to reach $8.77 billion by 2026, creating a significant profit opportunity for companies in the digital content space. Some of the top tech and media companies in the world, like Amazon.com Inc (NASDAQ:AMZN), Alphabet Inc (NASDAQ:GOOG), Adobe Inc (NASDAQ:ADBE), Sony Corp (NYSE:SNE), and BBTV (TSX:BBTV), are seeing huge returns from services that help content creators protect and manage their intellectual property.
BBTV Makes Rights Management Simple for Influencers and Media Companies
BBTV (TSX:BBTV) is a Vancouver-based digital media company that specializes in using a range of technology solutions to help content creators, from influencers to media companies, grow their viewership and drive revenue. The company's list of clients includes major names like Sony Pictures, Paramount, Viacom, and the NBA, as well as major digital influencers with follower counts in the tens of millions. BBTV is the second largest worldwide video property behind only Google, drawing in over 600 million unique viewers this past August alone across the top 12 countries, according to Comscore.
As part of its comprehensive solution for content creators, BBTV offers its clients a wide range of technology-based tools and services to help content creators drive visibility while taking control of their brands and intellectual property. Central to this is BBTV's suite of proprietary technology tools for content optimization, discovery, management, distribution, and monetization.
One of BBTV's tech solutions helps with content management. BBTV's tool for managing digital rights puts control of IP back in content creators' hands, tracking and identifying fan-uploaded content associated with the creators' brands and intellectual property. The solution also provides content creators with insights and options on how to respond to third-party content that uses their IP, including claiming and monetization options. This solution is part of BBTV's 'Plus' suite of services. In aggregate, BBTV's Plus solutions generated $35 million in revenue for the company in 2019. With the market for digital rights management set to more than double by 2026, BBTV's content management solutions could become an even bigger revenue driver for the company.
Tech Giants Invest in Digital Rights Management
Anywhere digital content is distributed, it is vitally important for content creators to have means of managing and maintaining control over their intellectual property. Th biggest tech companies in the world are implementing rights management over a broad range of digital media.
Alphabet Inc (NASDAQ:GOOG) owns and operates Widevine, a leading DRM solution that provides the capability to license, securely distribute, and protect playback of content on consumer devices. Widevine is used by major content streaming platforms like Netflix and Hulu, as well as the Google Chrome and Firefox web browsers.
Adobe Inc (NASDAQ:ADBE) is a market leader in digital rights management for ebooks and PDFs. The company's proprietary EditionGuard platform lets users securely publish and distribute and monetize ebook content like novels, textbooks, and more with protection from unauthorized copying. The platform uses technology from Adobe Content Server, which is used by major tech firms and book retailers.
As one of the largest distributors of digital content in the world, Amazon.com Inc (NASDAQ:AMZN) is heavily invested in digital rights management. The company bought digital rights management company Mobipocket in 2005, and while Amazon shuttered Mobipocket in 2016, the company still uses Mobipocket's encryption technology for its Kindle products.
In 2018, Sony Corp (NYSE:SNE) announced that the company was developing a digital rights management system that utilizes blockchain technology to process rights-related information. The company said it intended to use the system for protection of electronic textbooks and other educational content, music, films, VR content, and ebooks for its Sony Global Education products.
Digital content is a multi-billion dollar space, whether it's entertainment and influencer content on platforms like YouTube, educational materials like e-textbooks, or enterprise material. Like any other asset, this content needs to be managed properly in order to get the most out of it, creating an enormous opportunity for leaders in the digital content space like BBTV.
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