Brexit Implications How the UK's EU Exit Could Impact Media and Tech
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The 20,000 Foot View
The UK’s vote to leave the European Union sent shockwaves that will continue to reverberate across the globe for years to come. While the potential geopolitical permutations may prove to be era defining, the implications for media and tech companies could also be dramatic. The World Wide Web was just years old when the European Union (EU) was formed and the entire digital marketplace, from smartphones through to streaming services and apps has only ever known Europe as a single market. Though riven with faults, the EU nonetheless represented predictability and stability. Now all of that has been traded for a leap into the unknown that will rewrite the future of media and tech companies in the UK and beyond.
Key Findings
- The only of a post-Brexit EU is certainty at all
- Europe’s appeal lessen to some global players to increased fragmentation and complexity doing business in the region
- UK investment slow due to a combination disruptions to the UK’s financial and the cessation of EU and grants
- US tech European HQs may move from EU locations in order to serve their main market, the
- The EU’s role could leave a vacuum the UK government having more priorities than the fate of UK media and tech sectors
- SVOD services base European operations in the in order to get around content quotas
- Unable to retain and recruit EU developers, tech start-ups could be facing talent drain
- Streaming could as a tariff free means exporting directly into Europe for and music rights holders
Companies and services mentioned in this report: Apple, BSkyB, BT, EMI, Facebook, GEMA, Google, Liberty Global, Netflix, News Corp, PRS for Music, Spotify, STIM, The Premier League, Universal Music, Virgin Media, Vodafone
This report was jointly authored by Mark Mulligan, Tim Mulligan, Karol Severin and Zach Fuller