Internet service providers shouldn't fret about losing business after Thursday's net neutrality vote, a former Federal Communications Commission chairman said.
"People are asking for more and more data, faster and faster speeds. The demand is getting better and better. The suppliers on the cable side or telephone side don't have anything to worry about," Reed Hundt, who was chairman from 1993-97, told CNBC's "Closing Bell" on Thursday.
The FCC on Thursday approved measures that restrict broadband companies' ability to control download speeds, prioritize certain information or create paid Internet "fast lanes." Cable and Internet companies opposed the regulation, arguing that it would stifle innovation, increase consumer costs and ultimately hamper business.