BBC NEWS: “‘Mass access to multiple forms of content demands that it is priced differently. We are talking about an order of change that we have never seen before,’ he told the Business and Enterprise Committee, a group of MPs set up to examine the work of the Department for Business, Enterprise and Regulatory Reform.
It was affecting all industries, including newspapers and TV, he said.
‘Advertisers are simply not willing to pay as much money to put ads on TV as fewer people are watching it,’ said Lord Carter.
It is estimated that around 20% of media consumption is now done via the web, he said.
As the traditional method of funding content via advertising fizzles out, there was a role for government to play, he said.
‘We can look at existing regulation, at competition rules and at mechanisms for raising additional funding,’
‘These new technologies are inescapable and a reality for traditional ad-funded newspapers and TV but I’m not sure it is government’s role to ensure they survive,’ he told MPs.”