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I was recently invited to speak on a panel at the 2nd Digital Agenda Assembly for Europe in in Brussels on a panel called Converged media platforms where we largely discussed how is content financed in a converged media world (and I pushed successes in crowdfunding in the US in particular). But I think the more important subject we touch upon was how will this new living room ecosystem, with all it's emerging gatekeepers, be regulated?
It's my contention that it's going to be impossible for the new living room ecosystem to be regulated by current broadcast regulatory bodies at National and EU level for a number of reasons.
All in all, in my opinion, regulators are going to have to facilitate self regulation in the various industries concerned (CE manufacturers, app developers, Opera, second screen entrepreneurs, etc.) rather than try and write top-down laws and allow for the communities to clamp down on those that seek to take advantage of the 'Wild West' of a industry that is now unfurling.
Trying to port over broadcast regulations into the new living room will only result in consumer backlash by having to take away freedoms associated with the Internet in order to implement legacy legislation into the mix.
It's time for a private pan-European body that involves all current and future commercial stakeholders to be formed in order to set an agenda for self regulation and work with broadcast regulatory bodies and other government entities.
We live in a new world where brand values are largely validated by the consumer and it's imperative that commercial entities keep their status clean by 'doing no evil' as Google would say. Self regulation will allow for more, 'Agile' governing of the industry and keep up quicker with changes in the market, rather than the 2-3 year process it currently takes in traditional regulatory environments to facilitate changes in law.
My two cents.