PwC’s Marcel Fenez talks about the role of the digital media and regulatory challenges in an interview during a trip to New Delhi this month

Which are the hot media markets?
When I talk to global media companies, India remains a country of focus where people believe there is long-term opportunity. China may be restricted from the foreign investment viewpoint in traditional media, but increasingly it is developing as a digital market. By 2016, 40% of ad spends in China would be digital. In the short run, Indonesia and Vietnam are hot markets. Others that are of significant interest are Turkey, Brazil and southern Africa.
Can you regulate media in the age of Twitter and Facebook? Does it make sense to have ownership restrictions?
I think traditional cross-media ownership is probably missing the point these days. Today, it is not about who is controlling what because ultimately the consumer is taking control. Cross-media ownership rules will go under the knife. Logically speaking, the power of the Internet has kind of challenged a lot of regulation. The pace of regulatory change is probably slower than the pace of technology change and certainly slower than consumer change. So they are in a catch-up mode. But every regulator is very much aware of these issues.
What would your advice to regulators be?
The advice to any regulator is that it is about thinking about tomorrow and not regulating yesterday.

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