Jason Kilar is the former CEO of Warner Media. He has described blockchain as technology that will transform the entertainment business. The tech can also bring new types of financing, he said.
The Entertainment Industry: Transforming
Jason Kilar (outgoing CEO Warner Media) stated that the blockchain technology is the key to Hollywood’s future. He sees it transforming entertainment. This is particularly true in today’s digital age, where it is much simpler to buy digital collectibles.
As per a Reuters report, Kilar likened the technology’s potential to that of a digital versatile disc (DVD) before it went mainstream.
“I think that’s going to be a potential wave that’s going to be coming to Hollywood, in the same way that the DVD wave came to Hollywood in the ’90s,” Kilar is quoted explaining, regarding his thoughts on NFTs and blockchain technology.
While DVDs did prove to be successful, Warner Media’s outgoing CEO acknowledged that the technology had changed many companies’ financial fortunes. Kilar is well-known for his advocacy for technological changes and the adoption of blockchain technology in entertainment. However, it could be possible to use the blockchain for financing.
Warner Media’s Response to the Pandemic
According to the report, which chronicles Kilar’s journey in the entertainment industry, the outgoing CEO joined Warner Media in 2020 when the Covid-19 pandemic was spreading. Kilar is believed to have invented a way to bring movies in homes during the period of lockdowns, severe restrictions, and strict human movement.
Instead of waiting for certain time before making a film available for home viewing at home, the CEO started releasing movies in theaters as well as on HBO Max’s streaming service the following day. The move was believed to have brought 73.8 million additional subscribers to HBO Max and HBO cable TV.
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