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James Speta of the North Western University School of Law argues that in the future, we face an effective reality of unlimited video channels. Media regulation will be therefore complex as traditional media regulation affected content indirectly by regulating market structure but the unlimited channel scenario suggests that this will be less effective because unlimited channels will reduce the market structure effect. This has significant implications for subsidy policies in content creation and distribution. Subsidies may still be needed if non-economic goals are important but the outcome may well be to reduce the politics of subsidies.