Satellite radio subscribers will grow in number 46.8 million by 2014, when industry revenue will reach $7.6 billion, according to a forecast from Monterey, California -based Kagan Research. The firm predicts that by 2014, 75 percent of new subscribers will come as a result of satellite radio partnerships with automakers like GM, Ford and Toyota, which now offer factory- and dealer-installed satellite radio receivers. Satellite radio advertising revenues are estimated to reach $27.9 million in 2005, rising to $854.4 million by 2014. Kagan further projected that XM will break even by the third quarter of 2007, while rival Sirius will reach positive cash flow in 2008; by 2014, XM earnings are expected to top $2 billion, while Sirius earnings will hit $1.4 billion.
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