Dealing with the market power of video

In this chapter, we discuss the issue of market power in the online video field, which is arguably the most troubling aspect of this emerging online video system. We analyze the options of dealing with market power of online video platforms. They include the delegation of regulation to the industry; regulation as a public utility; provision by a public enterprise; licensing and registration; ownership restrictions; limits to foreign ownership and provision; antitrust breakup, functional separations, and unbundling; and interconnection. We concluded with a recommended “Open Video System†based on access rights to infrastructure and platform elements, where significant media market power (SMMP) exist. Such access would be accomplished through API software interfaces that must be offered by such platforms. (APIs), a way to let software by other parties interoperate with the platform’s software. Conditions of access would be governed by the non-discriminatory principle of “most favored nation,†subject to arbitration by a self-administrative process. A key role would be played by the personal information management curators. They would engage, in the consumer’s behalf, in the finding, selecting, and screening of appropriate content and infrastructure, as well as in the protection of personal data, They would be able to supply their own algorithms. Such an Open Video System does not solve all policy problems, and it needs to be limited when it comes to content or data. But it reduces the problem of market power of the platforms and its global extension. It will create, without breakups, a more competitive video cloud market. In doing so it reduces the need for detailed governmental control and oversight.