FilmChain provides a blockchain-based fintech platform that automates the collection, allocation, and analysis of revenues in the film and TV industries. By ensuring transparent and real-time payments, it addresses the inefficiencies and lack of visibility in financial transactions for rights holders.
Funding
$3M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
THFounders
Product
Problem
The film and TV industries face challenges in revenue collection, allocation, and analysis, leading to opaque and inefficient money flow from point of sale to rights holders. Traditional manual processes are prone to human errors, resulting in delayed payments and a lack of visibility into incoming gross receipts, reports, and collection sources.
Solution
FilmChain provides a cloud-based fintech platform that automates end-to-end financial transactions for the film, TV, and digital content industries. By leveraging a combination of smart contracts and trusted banking partners, FilmChain ensures transparent, real-time, and secure payments from various collection sources directly into rights holders' bank accounts in fiat currencies. The platform acts as a collection service, gathering consensus and creating governance for all project stakeholders, while also offering legal support through Collection Account Management Agreements (CAMA). FilmChain visualizes the recoupment schedule, enables instant withdrawals, and provides access for signatories to verify all transactions and payment splits.
Target Audience
FilmChain primarily targets film and TV producers, financiers, sales agents, cast, crew, and rights holders seeking a transparent and efficient solution for managing financial transactions and revenue distribution.
Features
- Automated, cloud-based collection system for film, TV, and digital revenues
- Secure and transparent payment processing using smart contracts and trusted banking partners
- Real-time bank statements and revenue analysis
- Tracking and management of collection sources and rights
- Machine learning insights for performance evaluation
- Collaboration tools for project stakeholders
- Legal support through Collection Account Management Agreements (CAMA)
- Automated generation of statements and reports
- Assistance with chasing due payments