Digital media companies are now the behemoths of business. Apple and Amazon have recently become the first trillion dollar companies and others aren’t far behind. Google, Facebook, Microsoft, Amazon, Apple… these are the digital media giants who hold the keys to the kingdom. More than that, they hold the keys to our worlds. We trust these digital media companies with more personal data than ever before. Now, digital media expert Jonathan Taplin says these data
Taplin says companies such as the aforementioned are monopolizing the internet as they continue to grow in different verticles. These companies are suffocating the competition due to their sheer size and resources. Taplin is the former vice president of media mergers and acquisitions at Merrill Lynch.
“This is going to be a problem more and more as Amazon, for instance, gets into the business of manufacturing its own products. Amazon is going to push its own products over the third parties that it supposedly is a neutral seller for,” Taplin told CNBC.
Facebook will face similar issues as it enters live sports streaming, he continued. The social network recently won the rights to show Premier League matches in certain Southeast Asian countries and La Liga matches in India for free — a development that highlights how digital platforms are increasingly eating into linear television’s business.
“Facebook will become a content player and a neutral platform … this is a big problem,” said Taplin, whose 2017 book “Move Fast and Break Things” explores the topic in further detail.
Taplin isn’t the only one who sees that digital media companies may be getting too big for their own britches. Conversations on the internet point to regular people starting to realize just how much these companies do control. Google has taken measures to try and mitigate the perception of big brother by breaking its brands into Alphabet and Google. Perhaps other big media companies plan on doing the same.
Hit the source link below for a video interview that Jonathan Taplin did with CNBC on the matter.Source: CNBC