Hollywood is the term used to encompass the idea of centralized entertainment. This is starting to come under attack.
At the moment, it is not Web 3.0 that is putting the pressure on. Instead, it is a number of technological innovations that will alter the entire industry. Ultimately, I think this feeds into Web 3.0 which then can scoop up the pieces and incorporate the entertainment sector into the network-state.
The demise of Hollywood is something we discussed a great deal over the last year. This is one of the most fascinating shifts we have ever seen.
It is disruption on steroids.
Others are now starting to realize what is taking place.
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AI Is Going To End Hollywood
This is one industry that is going to be decentralized.
Decentralization is a word that gets tossed around a great deal in the cryptocurrency and blockchain worlds. However, Hollywood always had this as a concept although it used the word "independent". There was a core group of independent filmmakers who opted to do things outside the major studios. Of course, they were only a minor piece of the entire spectrum since the studios controlled most everything.
At the core of the issue is customer preference.
We can go into dozens of reasons why this industry is shifting. However, if we had to boil it down to one thing it is the fact that people are now accepting of different quality video.
Some are using the phrase "social video" to denote that which is posted on sites such as YouTube. Here is where the idea of something being "good enough" comes in. While few would argue there is much that rivals Hollywood with regards to quality, the videos are sufficient for 10-15 minutes of a persons time. When 200K people view the video, that starts to add up.
AI is going to change everything. Here is a short video that discusses this topic.
https://inleo.io/threads/view/taskmaster4450le/re-leothreads-2uwdduqsk
It is important to remember this is the worst AI is going to be. Whatever aspect we are looking at, it will only improve from here.
This means that the tools that people will have access to will be more advanced two years from now.
It is a scenario that does not bode well for the industry.
Tools For Everyone
Scarlett Johansson is now suing OpenAI for the use of her voice. This is something that Sam Altman is denying. Whatever the outcome of this case, it is evidence of where we are heading.
What if Scarlett Johansson was not needed?
At present, we are still in a world where movies were filled with human stars. These people are still around, albeit many of them aging. We are likely to see a time when the "stars" are created by generative AI.
Many mention how the AI tools will enhance the studios and reduce the cost of productions.
Media, entertainment and creation will be the industries most impacted by the emergence of artificial intelligence, DreamWorks SKG cofounder Jeffrey Katzenberg said Thursday, and that will likely mean drastic cuts in the number of people needed to produce the art forms.
“If you look at sort of a historical perspective, you know, whether we went from a pen, a paintbrush, a printing press, a still camera, a movie camera,” the longtime industry executive said at the Bloomberg New economy Forum. “These are things that just expanded creativity and all sorts of storytelling and extraordinary ways.”
This is going to impact the jobs in Hollywood; there is no doubt about that. However, why is it only going to be limited to the major studios.
Here is where the door for Web 3.0 opens up. We are going to see entirely new business models formed. From this standpoint, if people can generate films or shows that are "good enough", potentially rivaling the major productions, we could see a massive shift.
The problem is numbers.
Even if 95% of what is produced is garbage, the total amount of initiatives will overwhelm the industry. At that point, it simply becomes a matter of the 5% garnering the attention. That is where Web 3.0 platforms can certainly aid in the transition.
The video discusses how, in the speaker's opinion, music is already at the point where it is the quality needed. He states that he fears for those who want to score as a career. It seems like AI is already there.
This will only spread with time.
Web 3.0
Why is Web 3.0 important to this discussion?
Tokenomics becomes something very important. The reason for this is we will likely see new economic models drawn up. We know the introduction of the subscription model by Netflix completely altered the entertainment industry. Everyone wanted into streaming.
Unfortunately, as a business model it failed for everyone other than Netflix. We are seeing a reversion to the old advertising based system that was prevalent for so long.
With the potential of costs for production plummeting as well as the amount of content increasing exponentially, we see how new business structures must be created. How will this be done?
Obviously, this is not exclusive to Web 3.0. We certainly will see a lot of experimentation in this area by independent entities. However, tokenization adds another layer that generate massive incentivization.
With disruption, voids are created. We know the entertainment industry generates hundreds of billions of dollars per year. Where is all that money going to flow? Who is going to capture it?
This is the issue confronting everyone in the future.
Centralization, at least with Hollywood, is going to end. Many forms of entertainment will end up decentralized as the "independent" sector gets more powerful.
We are watching disruption at its finest.
Posted Using InLeo Alpha
ai is taking the world by storm
AI in almost everything 🤩 !PGM
I see great videos appearing, love it so much
I imagine it will be more like a choose-your-adventure type of entertainment where the AI generates the next scenes of a movie in real time depending on the viewer's choices on a predicament.
The way AI is expanding it looks like it will one day make entire nations jobless. Technology is good but I think it is redundant.
Interesting for outsiders to read through but a pain to the neck for Hollywood insiders (shareholders).
Nevertheless, tech is here to stay and web3 remains an eye opener for internet enthusiasts. The idea of web3 in my views centers on even distribution of opportunities
Is it good or bad for the people in the world?
What about people who have their job from Hollywood? What will become of their source of income?
Hollywood is running out of attention AI and Web 3.0 are providing an exciting, decentralized future of entertainment.
Imagine the possibility of creating movies through voice commands and texts. But I don't think it will be a reality right away.
I think the biggest advantage of Hollywood [both US and centralized], is their bigger budget that leads to better quality, and recognizable/good actors. With generative AI, good quality doesn't need as big of a budget. As for the actors, they aren't as big now as they were before. People have different interests, with the youth opting for YT and Tiktok versus regular movies. The acting will depend on the software. I can also see makers guiding their software by recording a specific move that they want, and have the software use it.
Independent producers will get better tools to create better productions and distribute it to a wider audience. I think individually, people are already tired of Hollywood movies, they lack novelty and ingenuity, imo.
These days the storylines Hollywood movies portray are predictable and familiar, I'm sure viewers won't mind seeing what AI produced movies churns out .