Thanks to powerful user-created content platforms like Facebook, Twitter, and YouTube, anyone can be a content creator and distributor. These platforms have centralized immense power by controlling and monetizing user-created content, reaping billions of dollars in ad revenue and shifting the outcomes of national elections across the U.S. and Eastern Europe.
Platforms like Facebook decide what we see and don't see at a granular level, choosing when to show us the content our own social communities and family members are creating. So, while we are less reliant on major studios, networks, and pipelines to distribute and consume content, the power of media has not decentralized; it has shifted.
Decentralization can be defined as any process that removes a major intermediary, but as we have said before, it can't just move control from one centralized party to another, which is pretty much the story of media on the web.