https://youtu.be/dT663w7lgLc
CTV had a meteoric rise if popularity beginning in 2017 with the release of the short film, The Birch. CTV went on to develop an extensive universe of monsters, including the Looksee, Shelley, Miss Annity, Mordeo, Stoneheart, and the Sunny Family Cult, with the help of independent film makers. However, CTV would go through a major shift as they began to post more sponsored content, publish their original stories away from their main platform, and alienate their devoted fans with their latest NFT venture. So, what happened?
Perhaps it became difficult to create new content and maintain their consistent upload schedule with the difficulties of the Covid-19 pandemic. In addition, the CEO of Crypt TV Jack Davis expressed the frustrations of working on YouTube. Changes in the platform’s algorithm and pressure from advertisers have favored long form videos with “family friendly” content. You can see how a channel dedicated to short horror films would find it difficult to thrive on YouTube. The Birch, one of the most popular videos from CTV, has over 21 million views and gained the channel 200 thousand subscribers, but it was age restricted and earned only about $2,000. This wouldn’t be enough to pay their creator and sustain the amazing quality of their films. YouTube greatly benefits from the participation of creators like CTV, but the reward given in return does not reflect the effort they are putting in. Although I empathize with CTV’s struggle between producing art and financially supporting their creators, I don’t believe turning to NFTs was the proper solution for this dilemma.
In the past, CTV has demonstrated its ability to raise the funds necessary for its projects. In 2018, they received $6.7 million from major investors, including Blumhouse Productions. In recent times, they had a partnership with American Horror Story and produced the popular short film, Girl in the Woods, into a tv series for Peacock, NBC’s streaming service. This makes me question if NFTs were a necessary move to fund their artists. Creators who use NFTs often face major backlash because of the technology’s massive amount of energy consumption that is destructive to the environment. The NFTs marketplace is also rife with scams and offers little to no protection for artists because of its decentralized design. CTV silencing genuine criticism and blocking some of their most devoted fans is not great for their reputation. They have not produced a new film for their channel in three months, which means they must be dedicating most of their effort to creating the NFT trading card game, Monster Fight Club. Their hostile attitude towards fan criticism and new business model which strays away from what originally made them famous has only served to alienate their audience. There are many alternatives to generate more funds. CTV could have made a partnership with the horror centered streaming service Shudder, licensed official merchandise, or create a Patreon as a direct line of support from fans. Is it possible for to correct course now that they’ve lost the trust of a lot of their audience?
