Jason Kilar, the Chief Executive Officer of WarnerMedia, who is about to depart the firm, has suggested that blockchain technology holds the key to the future of Hollywood.
According to him, the blockchain technology that serves as the foundation of the cryptocurrency business may potentially open the door to new types of funding.
Blockchain Could Thrive In The Hollywood Industry
Jason Kilar, a successful businessman from the United States, is a proponent of the cryptocurrency industry and, more especially, blockchain technology. Recent comments made by the current CEO of WarnerMedia on digital ledger technology suggested that the entertainment business may be transformed. He also anticipates that the procedure of getting non-fungible tokens will become more straightforward.
Kilar likened the advancement of blockchain technology and its potential to reach Hollywood to the DVD craze that swept the world in the 1990s:
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. Obviously, that changed the economic fortunes of a lot of these companies.
Jason Kilar
Kilar has a long history of collaborating with and advocating for the advancement of digital technology. From 1997 through 2006, he worked as an executive at the e-commerce behemoth Amazon. In 2007, he co-founded and later became CEO of the streaming service Hulu.
Kilar was named Chief Executive Officer of WarnerMedia in May 2020.
However, the film business was substantially impacted in the subsequent years by shuttered theaters and increased online competition as a result of the COVID-19 epidemic.
He said earlier this month that he would resign as CEO in light of the soon-to-be-completed merger of WarnerMedia and Discovery, Inc.
