The business models for the Telecommunications, Media and Technology (TMT) industries are being transformed. Power is relentlessly shifting from the owners of scarce, proprietary resources to a ubiquitous Internet platform. Building on this shift are cloud computing, social networking, wireless mobility and the proliferation of devices. Information technology services providers are helping TMT companies navigate these changes and shift seamlessly to a new order. In this paper, Ayan Mukerji, head of the media and telecom business group at Wipro Technologies, and Wharton digital convergence expert Kevin Werbach assess the coming changes and what it will take to address them successfully.