Demand Film, an Australian cinema-on-demand distribution company, is reportedly planning to introduce Screencreds, a new cryptocurrency that will be used to reward users who watch or share its movie trailers.
The global film distributor is set to launch its cryptocurrency at a time in which it is also looking to increase its user base in Germany. According to Hollywood Reporter, Demand Film will begin releasing movie trailers for German-speaking audiences on August 21.
Rewarding Promoters With Crypto
Currently, the film distributor provides its cinema-on-demand services mainly to English-speaking viewers throughout the world. Its services include arranging theatrical screenings for upcoming film releases and documentaries requested by its users.
Notably, Demand Film will be providing non-English video content for the first time with its German launch. David Doepel, the company’s managing director and CEO, stated the film distributor wants to increase its existing user base by rewarding people with cryptocurrency for promoting its content.
Doepel explained Demand Film’s marketing strategy by noting that:
“Users will be getting paid for what they are doing already … watching trailers, sharing them, promoting our movies to their friends, and payment will be based on influence. The more people see the shared trailer, and the more people that then buy tickets to our screenings, the more Screencreds users earn.”
Exchanging Screencreds For Movie Tickets
The film distributor will also allow users to exchange their Screencreds tokens for movie tickets to its theatrical screenings and various of Demand Film’s hosted VIP events, including its meet-and-greet sessions with the company’s directors and movie stars.
Additionally, Doepel mentioned that Screencreds tokens would be listed and tradable on NCX, an Australian digital currency exchange, within the next few months. He added that Demand Film was planning to pay royalties to film producers by using Screencreds and that the company had already been experimenting with the idea.
The CEO revealed his crypto royalty system was currently being tested by Eleanor Sharpe and Nickolas Bird, the Australian producers of MAMIL: Middle Aged Men in Lycra, a documentary about Middle-aged men living secret lives as bicycle enthusiasts.
Royalties Paid With Streetcreds
According to Doepel, film producers receive part of the proceeds generated from ticket sales of their theatrical screenings. Commenting on how filmmakers are currently compensated, the managing director said, “At the moment, we report royalties every quarter and pay the filmmakers. With a cryptocurrency the payment would be automatic. The filmmaker would get their money right away.”
Doepel also noted that paying with Screencreds tokens would eliminate banking fees and other extra charges such as exchange rate fees. He added that paying with the cryptocurrency would allow for even small media companies to make sizable profits.
Notably, Demand Film is not the only company that is planning to reward its users with digital currency for viewing their content. As CryptoGlobe reported, pornography website Tube8 recently announced its plans to pay its viewers with Vice Industry Token (VIT), a cryptocurrency developed specifically for the adult entertainment industry.