Making Mobile Music Work: SK Telecom

South Korea's largest cellular company, SK Telecom, has provided a mobile music portal service called �MelOn� since the end of 2004. MelOn is the first integrated, wired and wireless, music service that allows users to enjoy music virtually anytime, anywhere using a portable MP3 player, a PC, or a mobile phone. The main MelOn interface is a music download and streaming Internet portal, www.melon.co.kr. The service is akin to a rental service, with users �renting� tracks on a monthly basis for use on various terminals. MelOn users pay a 5000 won (US$4.50) monthly subscription to stream music to a PC or download tracks to their phone as long as their subscription is current. Digital rights management (DRM) wrappers on the music guarantee a subscriber is current, and tracks are erased from the end-user�s library at the end of the subscription period. To download tracks onto the handset, users pay for airtime at regular call rates, regardless of the size of the track. The key to the model is its ubiquitousness, downloads are possible using wireline and wireless platforms, and a relatively affordable monthly subscription fee. SK Telecom acquires the rights from the record companies for music to use as ringtones, ringbacks and full version downloads. Music companies are not necessarily enamored by the scheme, but SK Telekom has generally used its market heft to have its way. To further strengthen its position, SK Telekom acquired Korea�s YBM Seoul Records, reportedly Korea�s largest record company.

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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