Brexit Blindsides English Tech Industry
In London many tech and media companies are set to bolt town in the wake of the Brexit. Many are beginning to wonder if this could be the end of London’s position as Europe’s media capital of the continent. Since the begining of the television revolution, London has been there to answer the call, and more importantly collect those dollars of the market. London in many ways has long been seen as the finacial and media capital of the world just behind the United States of America. American tech and media companies such as Facebook and Google have hube offices there, and it’s an English speaking toehold for American firms doing business on the continent.
Now to put this in the context of recent developments most notably the Brexit. This does not mean that there aren’t consequences for the firms in the media and business sectors that are based out of London. In fact its quite the opposite really. According to Frank Sinton who is the CEO of Beachfront Media, a company that makes an advertising platform for mobile video he says that, “We’d been thinking about an EU extension for the last year, and we took a month long trip to figure out where we wanted to set up base, it became pretty clear among the media and ad community that London was the clear choice. But the leave campaign winning has us completely reevaluating.”
You may think that given the recent developments on the isle there is going to be some recourse that is not favorable. This is most certainly the case, but what does not naturally follow which would in most cases of industry is the notion that they will be overhauled and taken over by some new hub of industry. The reason being is that there is very little they can do in this regard to really not be seen as a go to, and the sheer fact that there isn’t really anyone who is even positioned to take them to that level and necessitate England’s fall from grace. What I mean by that is the only thing that will happen is an attack to quality and scope but they do not face an existential threat to their holdings. Carter Pilcher, is the head of Shorts international, a video company that specializes in (surprise) and or short form video for a largely concurs with Sintons. “I think it will go from the capital of media in Europe to capital of the U.K. The biggest beneficiary is possibly Germany, but probably the Netherlands, because their regulation system is effective.”
“A lot of American TV type businesses-MTV,CNN, Discovery- are all headquarter in London because it’s a much easier place to live… it’s an enormous set of media companies; And they haven’t yet negotiated what will happen but i am almost certain that the EU will not allow TV networks created outside the EU to broadcast because media is too precious to be regulated outside the trade zone.” This is the state of affairs we find on the isle known as Britain.