Digital is revolutionising the TMT sector, acting as a catalyst for changing business models. On the plus side, it has created opportunities for new revenues serving connected, tech savvy consumers, while also being able to get far closer to them but on the down side, it has dramatically decreased the effectiveness of traditional revenue streams. The recent downturn has also heightened pressure on organisations to effect change. Alongside the rapid development in digital technology, consumers now expect more services for less and demand greater interactivity and control over the services they receive.
For Telecom service providers, this provides a relatively rare opportunity to achieve a step change in revenue growth. On the Media side, a converging industry heightens the value of content, brand and the importance around owning the customer. Technology firms are also suddenly able to take a wider slice of revenues across the value chain (e.g. by offering over the top services or enabling cloud offerings).
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