As media companies and telecom service providers see their traditional business models erode due to communication services, information and entertainment content shifting to the Internet, survival could be as simple as monetizing Web 2.0, says new research from In-Stat.
But to accomplish this, organizations must do more than simply adding functions, such as links to social networking sites, Twitter messaging, chat rooms, and user comments/feedback, the report continues. While these functions may help marketing and customer retention, they do not represent a Web 2.0 business model.
"Web 2.0 business models encompass an ecosystem of partnerships, designed to leverage both internal and external knowledge and assets" says In-Stat analyst Keith Nissen, in the press release announcing the research. "End to end ownership of the entire business model is a dying breed. Telecom operators, media companies and others must modify their business models."
The research, called ‘Monetizing the Internet: Using Web 2.0 Business Models’, also found that:
• 78% of heavy Internet users regularly use two or more social networking sites.
• Operators have a key opportunity to provide consumers with a ‘personal information centre’ portal. For example, 66.6% of respondents said that they are "very or somewhat interested" in aggregating access and sharing of personal images through such a portal.
• Personalized content delivery and advertising is a key success factor. Currently, two-thirds of users report that they never click on internet ads.
• The IP media phone, potentially the consumer’s fourth screen, could be an ideal Web 2.0 service delivery device, and In-Stat forecasts that over 16 million U.S. households will have a media phone by the end of 2013.
For more on the research report, click here.
