According to a report published by The Hollywood Reporter, Demand Film, an Australia based cinema on demand distributor is set to launch its own cryptocurrency called Screencreds. The purpose of Screencreds would be to reward users, providing them with an incentive to watch and promote trailers for upcoming releases.
Demand Film will be proceeding with its launch of Screencreds in Germany the following week. Since its inception in 2016, the on-demand distributor will be making its first foray into a non-English speaking territory by expanding its operation into Germany. In an exclusive interview with The Hollywood Reporter, The CEO of Demand Film, MD David Doepel mentioned, “Users will be getting paid for what they are doing already — watching trailers, sharing them, promoting our movies to their friends. And payment will be based on influence. The more people see the shared trailer, and the more people that buy tickets to our screenings, the more Screencreds users earn.”
The Screencreds token will be capable of being exchanged for movie tickets to Demand Film screening along with VIP events that include meet & greets with directors and actors. In a matter of a few months, the Screencreds will also be trading on Australia’s NCX exchange.
Screencreds also works to the benefits of filmmakers as a pilot program is currently in place that would allow them to receive royalties via a revenue split model with the filmmakers receiving a cut of the ticket sales. Doepel mentions on the topic, “At the moment, we report royalties every quarter and pay the filmmakers. With a cryptocurrency, the payment would be automatic. The filmmaker would get their money right away.”
Demand Film currently focuses on and showcases small films along with niche documentaries. The model that Screencreds hopes to bring about with the lack of exchange rates and banking fees could enable films working with a small budget to operate with reduced financial dependence.