Jason Kilar, the outgoing CEO of Warner Media, has touted blockchain as a technology that could transform the entertainment industry. He also said the tech could bring about new forms of financing.
Transforming the entertainment industry
Outgoing Warner Media CEO Jason Kilar says the future of Hollywood is in blockchain, a technology he sees transforming the entertainment industry. According to Kilar, this is especially true now, at a time when the process of buying digital collectibles has become much easier.
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 it will be a potential wave that will come to Hollywood, similar to how the DVD wave came to Hollywood in the 90s,” says Kilar, regarding his thoughts on NFTs and blockchain technology.
The outgoing CEO did concede that while DVDs were ultimately successful they changed the economic fortunes of many entertainment companies, including those of Warner Media. Still, for Kilar, who is known to push for the adoption of technology and changes in the entertainment industry, the blockchain could also present new forms of 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. During this period, characterized by closures and severe restrictions on human movement, Kilar reportedly introduced a new way of bringing films into homes.
Instead of waiting for a certain period to pass before releasing a movie for home viewing, the CEO reportedly initiated the practice of releasing new films in theaters and on the HBO Max streaming service on the same day. This move is believed to have helped HBO Max and the HBO cable TV network bring in 73.8 million new subscribers.
