The current level of media ownership concentration has a less significant and negative influence on firm performance, while the Internet has open up unprecedented opportunities for people to access and distribute information.
But this kind of dominance should influence the evolution of media especially the work of media professionals and the character of information and media content itself. Sometimes it interferes with the right to free expression, sometimes it makes possible for the control or manipulation in particular services like content creation.
The centralization of media means that they control the market. They reduce competition in the media industry by preventing the entry of new firms into the market, increasing the price of the media services and decreasing the rewards for content contributors. This is worse.
We have seen that giant media domination (like YouTube or Facebook) take the lion’s share from the market when it comes to revenue generated from advertising, search, and content. Most of the contributors from these services, receive little to no value in return for their contribution.
Many believe it's time to start over.
MEDIA Protocol aims to redistribute power from existing media owners – third-party intermediaries that disproportionately benefit from the exchange of content and centralised distribution platforms – to media creators, publishers and consumers. By providing the data publishers need, the reward creators deserve and the relevance consumers desire.
MEDIA Protocol has vision for a better world without a bunch of greedy companies. By reinventing the system, changing it from a system focused on revenues to one that focuses on the contributors like creators, publishers and consumers. And while doing so care was taken to keep the process transparent and the costs to an affordable level, thanks to blockchain technology.
This will lead to accurate - high quality content and help reward the right content contributors.
With a more modern and much more effective platform, MEDIA Protocol seek to harness the spirit of decentralization and participation of all stakeholders in media space.