In addition to the endless lists of chaotic and unreal moves made by the new administration in the past few weeks, the Republican-controlled Federal Communications Commission (FCC) is already siding with corporations at the expense of the public, content creators, and media platforms.
The new FCC chairman and former lawyer for Verizon, Ajit Pai, took the lead in rolling back consumer protection regulations and the net neutrality progress made during the Obama administration by his predecessor, Tom Wheeler, including closing out the inquiry in zero-rating offerings by AT&T and Verizon that violated the FCC’s Open Internet order. Comcast had also received an inquiry request by the FCC for its Stream TV content that was exempt from applying to a customer’s service data caps. That too is in the circular file.
Right now is a time of contemplation for the “we’ve always done it this way” business models. In every industry, the old ways are crumbling as new ideas mesh with technology, filling demand gaps in industries and redistributing market share. Aside from the commonly referenced transportation and hospitality markets, it is the making of entertainment content that will see a tidal wave of change in the coming years.
The company causing this butterfly effect: Netflix.
“Entertainment and technology are continuing to transform each other as they have been doing for over 100 years,” said Reed Hastings this past January during his CES keynote.