Digital Cinema Projection Standards Accord

Seven major Hollywood film studios announced that they have agreed on technical standards for digital cinema projection, laying the foundation for a money-saving transition from costly film prints to digitally-projected movies. Digital Cinema Initiatives (DCI), a consortium that includes Disney, Fox, MGM, Paramount, Sony, Universal and Warner Bros., will establish a financing entity that will borrow funds to bankroll the initial installation of digital projection systems -- which cost between $60,000 and $100,000 each -- in 3,500 to 10,000 screens nationwide. These costs would be partly passed on to theater owners, while the rest would be realized in savings from the digital conversion; while film prints cost around $1,200 each, and can deteriorate with use and time, digital movies maintain their quality and currently cost about $300 per copy. Previously, many theater owners were hesitant to pay to install digital projectors, for lack of a common standard. Among the standards set by DCI include specifications for digital cinema picture resolution, and methods of preventing piracy. "After three years of careful planning, discussion and reaching out to all the various constituencies who make up our industry, DCI member studios are pleased to have reached unanimous agreement on the necessary overall system requirements and specifications for digital cinema," said Walt Ordway, chief technology officer for DCI.

Global Digital Business and IT Consulting Outlook

Across the globe, CEOs and their leadership teams continue to seek information and guidance about planned Digital Transformation initiatives and the most effective enterprise organization change management practices. Worldwide IT and Business Services revenue will grow from $1.13 trillion in 2022 to $1.2 trillion in 2023 -- that's a 5.7 percent year-over-year growth, according to the latest market study by International Data Corporation (IDC). The mid-term to long-term outlook for the market has also increased -- the five-year CAGR is forecast at 5.2 percent, compared to the previous 4.9 percent. Digital Sevices & Consulting Market Development IDC has raised the growth projection despite a weak economic outlook, because of vendor performances across 2022, growth indicators from adjacent markets, increased government funding, and inflation impacts. The actual 2022 market growth was 6.7 percent (in constant currency), which was 87 basis points higher than forecast last year, alth

Open Banking Usage to Grow by 470 Percent

The Open Banking business model has been advantageous for Third-Party Providers (TPPs), helping them to extend their offerings into other areas of financial services with new capabilities. Open Banking is also advantageous for traditional banking institutions, despite the perceived loss of custodianship over their data, by providing greater accessibility to more bank services. Furthermore, Open Banking can help serve Mobile Internet providers that are able to leverage it to create tailored services according to customers’ preferences and/or economic limitations. Open Banking Market Development Since traditional banking services are made more convenient by TPPs via greater data access, customers can proactively manage their finances and shape the development of new financial offerings. This is particularly noticeable in the realm of Digital Payments, where retail merchants and customers transact through eCommerce, which has the greatest number of use cases for Open Banking. These includ

Why Instant Issuance Payment Cards Evolved

The global financial services sector continues to grow as more progressive organizations seek to gain a meaningful competitive advantage from their digital transformation initiatives. Across the globe, many regions are seeing a significant rise in 'instant issuance' activity from a physical and digital perspective, from both traditional and emerging innovative banking institutions. Digital Payments Market Development Customers increasingly demand instant access to banking services, with physical instant issuance enabling them to leave their branch equipped with a ready-to-go payment card. According to the latest worldwide market study by ABI Research, the market for instantly issued physical payment cards will increase from 243.2 million shipments in 2022 to a forecast of 471.1 million in 2027. "Critically, instant issuance of payment cards is no longer limited to the physical," said Sam Gazeley, industry analyst at ABI Research . Indeed, the growing digitization of p

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