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Hovard Sapper and Eiichi Naito, prominent Hollywood entertainment consultants and producers, became co-owners of WatchMyBit, the first ad-free video content delivery service powered by bitcoin. They expect bitcoin to be the empowering tool for artists to collect the royalties around the world.

Due to the “borderless” nature of the bitcoin network, it can solve a real problem that the music industry has faced for years, said Sapper, the founder of Extraordinaire Media:

“The reason musicians haven’t been getting paid is because their managers and publishing teams were unable to collect royalties from most online streaming services. With cross-border payment and ongoing disparities, billions in revenue goes uncollected.”

With WatchMyBit artists and their management are able not only to distribute video content, but also collect royalties in digital currency. This platform will help artists to get paid again, said Naito, the founder and CEO of Domo Music Group.

“The ability to instantly split incoming payments among artists, writers, management, distributors and even charities has never been possible before,” he added.

According to the press release, Naito and Sapper have partnered with WatchMyBit because of its evolutionary use of the bitcoin payment system and clear vision of the future. They believe that this partnership will turn the rewarding of creative musical teams into a reliable, fast and simple process.

Unlike other platforms, such as YouTube or Vimeo, WatchMyBit provides daily payments in addition to bitcoin payments.

Founded in 2014, WatchMyBit created a user-controlled, ad-free, pay-per-view model that thwarts piracy and supports micropayments.

 

Daria Petushkova