As with other industries navigating digital transformation, the entertainment commerce landscape is undergoing a significant evolution.
From streaming platforms transforming how people consume media to virtual experiences redefining live events, the landscape is evolving rapidly. This shift is not only altering how consumers engage with entertainment products but also how businesses operate within the industry.
One notable example of this transformation is how digital platforms are helping to democratize access to niche markets. Take Digital Racing Cards, for example. The company recently launched a Kickstarter crowdfunding campaign aimed at offering race enthusiasts a platform rivaling those typically associated with major league sports programs.
Much like how streaming services have provided a platform for independent filmmakers and musicians, Digital Racing Cards aims to empower race brands by providing a digital stage to showcase their talents and engage with fans, leveling the playing field and offering newfound opportunities in the world of motorsport.
Rod Wortham, founder and CEO of Race Face Digital, said in announcing the funding campaign that “the idea of providing grassroots racers with a platform comparable to other major league sports programs was a mere concept” just one year ago but he now sees it coming to life.
And as technology enables greater connectivity and access to global audiences, barriers to entry are likely to keep eroding, allowing for more diverse voices and content to thrive.
Platforms like JKBX which recently unveiled a platform for purchasing shares of music royalty assets, also showcase another side of the evolving entertainment commerce landscape.
Just as Digital Racing Cards aims to democratize access to motorsport content, JKBX’s innovative approach wants to democratize investment in the music industry, allowing a broader range of stakeholders, including both seasoned investors and music enthusiasts, to participate in the creative economy.
The company now offers securities backed by music royalty streams, with current platform listings — including songs by popular artists such as Beyoncé, Taylor Swift and Adele — yielding approximately 3% to 4%, slightly lower than typical money-market funds.
“For those who may be new to JKBX, we’re a platform that makes investing in music royalty assets accessible, allowing individuals like you to participate in the success of the music industry,” the company said in a Monday (March 4) LinkedIn post. “Every time music plays, someone makes money, and now that someone could be you.”
Another trend on a similar wave as Digital Racing Cards and JKBX is the emergence of virtual entertainment platforms such as StageIt and Moment House. These platforms have enabled artists and performers to host and manage ticketed live-streamed concerts and events, making it easier for them to reach global audiences without the constraints of physical venues.
In conclusion, the digital transformation of the entertainment commerce space is ushering in a new era of innovation and opportunity. And as businesses adapt to these changes and consumers embrace new forms of entertainment, the industry is poised for continued growth and disruption.
Technology will remain a driving force in this shift, driving innovation in how entertainment is created, distributed, and monetized.
