
Three Medias Mark Rawlings-Smith details how media companies can use Web3 for both transcoding and media storage, as well as ownership of their data
By Contributor
Published: May 25, 2023
Three Media's Mark Rawlings-Smith details how media companies can use Web3 for both transcoding and media storage, as well as ownership of their data
target=_blank title=Share on LinkedIn class=share-linkedin>
If you read some of the things in the press at the moment, you could be forgiven for believing that Web3 is all about shady cryptocurrencies and people paying stupid amounts for JPEG cartoons in NFT form. Elon Musk said that Web3 seems more marketing buzzword than reality right now .
What I hope to do in this article is to convince you that all the underlying technologies behind Web3 are real and available today and that those technologies have the potential to transform the way we work in the media industry. Done right, it has the possibility to bring massive cost savings, greater security and network and operating resilience. Which sound like good things.
We should start with a definition of what we mean by Web3. It is a new iteration of the web, built upon some key concepts including decentralisation, blockchain and token-based economics. The underlying concepts have been a part of our digital world for decades: what we are doing now is using the ability to freely communicate digitally to bring emerging technologies into the mainstream.
Decentralisation is at the heart of everything. Today you may have all your assets in your building, where you are responsible for maintaining the locks and keys, and all the cybersecurity needed to prevent intrusions.
Or you may outsource to one of the major cloud providers. They are pretty good at maintaining security, and I would definitely not want to criticise them in that regard. But a single corporation has control over your assets, and they could turn you off or change the terms of the contract. And your log-in details are held in a central register which is a high-profile target for data breaches.
Web3 moves from data servers to the concept of nodes. Anyone - including you - can own and operate one or a number of nodes. But your data is distributed in a highly resilient manner across large numbers of these nodes, in a way which is determined by the network, and creates security through the use of a consensus protocol (I'll explain that in a moment).
There may be tens of thousands of nodes in the environment. And the more there are, the more secure and resilient it becomes.
Blockchains are new ways of managing data: the Web3 database if you like. A blockchain is, simply, a chain of blocks of data, where each block contains a number of transactions. What makes a blockchain different, and uniquely powerful, is that in a well-architected blockchain, once written, a block cannot be changed. Ever. That is where the consensus protocols come in.
So if your data is written across some unknown but potentially large number of nodes, in a form in which it cannot be changed, then you no longer need to trust the body looking after your data, whether that is your IT manager or a cloud provider. You have a trustless environment, which is at the heart of Bitcoin and other cryptocurrencies, but is obviously of benefit to any organisation with digital assets or looking to transact in globally available, open, public marketplaces.
Which brings us back to NFTs: non-fungible tokens. The high-profile cases have been around rich people buying artwork, but an episode of a television series could be an NFT. The ownership of that NFT could be stored on a blockchain; sale of the rights to the programme could be added to the blockchain; subscription charges to view it on pay-per-view could be recorded in the blockchain, and so on along the line.
From that, you will readily see that you can use the same Web3 environment to create smart contracts which, in our case, provide access to content including programmes. Once established, these contracts are maintained by passing tokens around, entirely automatically, including the financial reckoning at every stage. Consider the infrastructure OTT or pay-TV operators could lift out of their networks in a Web3 deployment or the ease with which one-off or new customers can be brought online.
If you have read this far, you may still be asking why you should be interested in Web3. Let me point out a couple of benefits.
The cost savings are astounding. Conversations with suppliers indicate that costs for both transcoding and mass storage for media files could be less than 20 per cent of today's cloud-based pricing.
The nature of Web3 depends upon highly secure cryptography. The result is that you have complete control over your identity and ownership of your data, and can clearly identify the people and the assets with whom, and over which, you are doing business. Both sides of the transaction are protected. With the risk from hackers and even hostile governments, this provides a new level of security.
Resilience is boosted through its distribution across large numbers of nodes. You could lose access to 40 per cent of those nodes at any time and still be able to deliver the content. How many nines resilience do you want? 15 nines if you like.
I have only had space to touch on the absolute basics of Web3, how it works and what it can do. If you want a fuller brief for media companies I have written a short e-book, which you can download at https://three-media.tv/brochures-videos/. And of course my colleagues and I at Three Media are here to help.
But I would urge you to at least start thinking about Web3 and how you can benefit from it. We all know that the media industry reacts slowly: we have been talking about IP connectivity for more than 20 years, the cloud for over a decade. Now is the time to dig deep
Europe Stories
06/10/2025
France T l visions, France's leading broadcaster, has received the 2025 EBU ...
04/09/2025
Monumental Sports & Entertainment (MSE), in collaboration with Dalet, has been a...
07/08/2025
July 8 2025, 22:30 (PDT) Tata Motors & Dolby Bring Dolby Atmos to Harrier.ev, R...
18/07/2025
Friday 18 July 2025
Credit: Marc Sethi
The Sky Arts Awards will return on 16 September, once again taking place at the iconic Roundhouse in London. Produced b...
18/07/2025
This month, players can dive into special crossover events featuring SpongeBob SquarePants in Snake.io+ and Crossy Road Castle, available exclusively on Apple A...
18/07/2025
Up for the Match brings the fun, the passion-and a bit of Riverdance- tomorrow n...
17/07/2025
Spotify's goal with audiobooks is to help grow the publishing industry and create the best possible experience for booklovers, which is why we're launch...
17/07/2025
Luxembourg, 14 July 2025 - SES received the final regulatory approvals for the SES-Intelsat transaction, including the US Federal Communications Commission.
O...
17/07/2025
Wuppertal July 17, 2025
Riedel Communications Powers Handa Opera on Sydney Har...
17/07/2025
Fox Corporation Executives to Discuss Fourth Quarter and Full Year Fiscal 2025 F...
17/07/2025
Dalet, a leading technology and service provider for media-rich organizations, w...
17/07/2025
The summer is here and RT Radio 1 has unveiled a lively seasonal lineup, packed...
16/07/2025
Spotify's podcast editorial team is always on the hunt for shows and episodes that spark conversation, push boundaries, and keep us coming back for more. As...
16/07/2025
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({...
16/07/2025
Join us at IBC this September and take control of your content. Discover how we're bringing a new level of purpose and precision to the application of AI in...
16/07/2025
Wednesday 16 July 2025
Sky and ITV today announced an extension of their long-standing partnership, which will see ITV's content and services remain seamle...
16/07/2025
Sky Sports lifts the lid on Lions life with hilarious behind-the-scenes mockumentaryWednesday 16 July 2025
To view this content, please enable our use of cooki...
16/07/2025
CULVER CITY, CALIFORNIA Apple TV+ today earned a record-breaking 81 Emmy Award nominations across 14 hit Apple Original titles for this year's 77th Emmy Awa...
15/07/2025
Independent media outlets in Brazil and Colombia are invited to apply for a new programme aimed at strengthening the long-term resilience of journalism in the f...
15/07/2025
Spotify une fuerzas con DiDi, la app l der en servicios de movilidad, delivery y...
15/07/2025
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNIT...
15/07/2025
U&GOLD has acquired the broadcast rights for Fawlty Towers: The Play (1x120'). Recorded during the show's run at the West End with its original cast, Fa...
15/07/2025
TV SIM builds for the future with high efficiency transmitter from Rohde & Schwa...
15/07/2025
Harmonic's Hybrid, AI-Powered and Live Sports Streaming Innovations are Key ...
15/07/2025
The well-known and well-loved 4099 has been completely revamped. It features amazing CORE+ technology, which eliminates distortion and extends dynamic range, a ...
15/07/2025
Comscore Partners with HyphaMetrics to Launch Advanced Person-Level Audience Mea...
15/07/2025
Peak audiences of over half a million tune into both Kerry v Tyrone and Donegal ...
15/07/2025
PROTON Announces Production Facility Expansion Ahead of IBC2025 posted: 15/07/2025
Proton Announces Production Facility Expansion Ahead of IBC2025
Alongs...
14/07/2025
Enhancing Public Service Broadcasting with
Innovation, Accuracy & Sustainability
New regional detail and local towns featured...
11/07/2025
If you've ever wondered what might be playing in Clark Kent's headphones...
11/07/2025
AI and Multimedia Authenticity Standards Collaboration launches two papers to guide the future of AI integration, today at the AI for Good Global Summit
The...
10/07/2025
The current holder of the prestigious Thomson Foundation Young Journalist of the Year Award has been forced to stop reporting over fears for her safety in Afgha...
10/07/2025
Spotify is turning up the volume on Australian music with a multipronged initiative designed to highlight the dominance of Australian artists on the global stag...
10/07/2025
This is not a drill: Oasis is back on the road-marking its first live performanc...
10/07/2025
The music industry depends on fresh ideas, bold voices, and emerging talent. Yet across the U.K., too many young musicians lack the space to develop their craft...
10/07/2025
10 Jul 2025
VEON and Cohen Circle Secure Investor Commitments for Kyivstar Listing Kyiv, New York, Dubai, and Philadelphia - July 10, 2025 - VEON Ltd. (Nasdaq:...
10/07/2025
Thursday 10 July 2025
The Very Small Creatures
Jaime's Treetop Tales
Emerald
BooSnoo! Christmas Mashup
Pip & Posy's Spooktacular Party
The Very Sm...
10/07/2025
Thursday 10 July 2025
Brand new rewards are coming to Sky customers, with free ...
10/07/2025
Comscore Achieves Full JIC Certification for National TV Measurement Including...
09/07/2025
Wednesday 9 July 2025
Sky Broadband now has the UK's fastest broadband spee...
09/07/2025
CUPERTINO, CALIFORNIA Apple today announced Jeff Williams will transition his role as chief operating officer later this month to Sabih Khan, Apple's senior...
08/07/2025
In an era where digital threats to journalists are becoming increasingly aggressive and widespread, MediaSafe Africa launches as a vital online resource to help...
08/07/2025
This summer, as the energy builds for one of the biggest moments in women's ...
08/07/2025
UKTV today announces that Richard Watsham, Chief Creative Officer at UKTV and Global Director of Acquisitions for BBC Studios/UKTV, has decided to step down fro...
08/07/2025
SAN JOSE, Calif. - July 8, 2025 - Harmonic (NASDAQ: HLIT) today announced a reco...
08/07/2025
Arvato Systems Optimizes Customer Communication with AOK Niedersachsen
New project in the statutory health insurance sector
Arvato Systems and AOK Niedersach...