EY and Microsoft have launched a blockchain solution for content rights and royalties management which is aimed to streamline the costly and time-consuming processes in entertainment rights and royalties. The solution is first being deployed within gaming with Microsoft and its game publisher partners. The companies have designed the solution to serve any industry where intellectual property or assets are licensed to other parties and where the creators are paid royalties based on royalty agreements. Within this value chain – which can include authors, song writers, production houses, developers etc. – the intellectual property generates millions of transactions aggregating to billions of dollars per month in royalties to be paid. The royalty calculations along the value chain are currently mostly manual and generally managed via offline data sources.
