Multimedia data sharing is increasingly becoming an essential part of the daily life for end users to access different systems, services, and applications. Data disclosure frequently occurs in real-world cloud storage services. Authentication and copyright protection of multimedia contents has always been a concern in secure data transfer media. The problem has become more critical with the increasing use of the Internet and digital technologies. However, making the protection of copyright is more complex and difficult. In proposed approach both Watermarking and Proxy Re-encryption (PRE) approach utilized for efficient multimedia content sharing. Watermarking is used to hiding the information such as hide secret information in digital media like images. Encryption techniques used to provide security to data. In proposed work, secret key can be encrypted using encryption algorithm with the help of key. Then user’s private key combined with encrypted key information and can be embedded within the image or audio using LSB (Least Significant Bit). After embedding of secret information, image or audio can be encrypting using ECC Encryption algorithm. Finally, authorized user can extract decryption key with the help of embedded data verification process. Unauthorized or illegal access can identify, when user information does not match with embedded information. And also secure these transaction details using Block chain technology.