Blockchain Could Be the Future of Hollywood, Says WarnerMedia CEO

Jason Kilar – Chief Executive Officer of WarnerMedia who prepares to leave the company – argued that the future of Hollywood is in blockchain technology. In his view, the backbone of the cryptocurrency industry might also present new forms of financing.

Blockchain: a ‘Potential Wave’ Coming to Hollywood

The cryptocurrency sector, and more specifically blockchain technology, found another proponent in the likes of the American businessman – Jason Kilar. In a recent interview, the current CEO of WarnerMedia said the digital ledger technology could transform the entertainment industry. He also expects the process of acquiring non-fungible tokens to become simpler.

Kilar compared blockchain technology’s progress and its potential to reach Hollywood to the DVD wave in the 90s:

“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.”

The American has a long track record of working with digital technology and pushing for its further acceleration. He served as an executive for the e-commerce giant Amazon from 1997 to 2006. In 2007, he helped found the streaming company Hulu, eventually becoming its CEO.

In May 2020, Kilar was appointed as the Chief Executive Officer of WarnerMedia. In the following years, though, the film industry was significantly affected by closed theaters and surging online competition due to the COVID-19 pandemic. Earlier this month, he announced he will be stepping down from his CEO role in the face of the soon-to-be-completed merger of WarnerMedia and Discovery, Inc.

Entourage’s Adrian Grenier is Also Bullish on Crypto

Another (former) member of the Hollywood movie industry who displayed his pro-crypto stance is Adrian Grenier. The star of the TV series “Entourage” argued that digital assets can “fix a lot of the systems that are broken currently, and are quite wasteful across all industries.”

He also opposed the critics of bitcoin mining, saying that “crypto isn’t just a thing that uses energy.” In his view, the asset class could transform many sectors into being more efficient. “If you look at the global net benefit, I think it’s a positive one,” he claimed.

Last year, Grenier predicted that bitcoin might replace fiat currencies like the US dollar:

“You are going to see the adoption rate increase exponentially over time, but you’re also seeing bitcoin as future dollars.”