Despite intensifying concerns about declining DVD sales, boxoffice receipts and advertiser spending, traditional media executives attending Herbert Allen's exclusive Sun Valley summit this month didn't exactly flock to the so-called new media moguls, whose emerging venues could be critical in offsetting the industry's mounting economic risks. That uniform observation from elite executive conference attendees begs the question: "Why not?" When presented with the opportunity to aggressively explore viable new alternatives to their challenged business models, why didn't traditional media players respond as if their existence depends on it, as suggested by a recent flood of troubling statistics? "There was almost no interaction between traditional media companies and new media companies," one high-level Sun Valley conference attendee says. "Google was talking about video search and Intel talked about WiMax, and all the new media companies were talking about changing the existing business models. The traditional media companies sat there and listened to them with their heads in the sand, like it's business as usual," another conference attendee says. "It was really bizarre."
Alternative Payment Methods (APMs) – comprising digital wallets, instant payments, and QR payment systems – are experiencing explosive growth that's reshaping the global financial services marketplace. According to the latest worldwide market study by ABI Research , the combined global transaction value for APMs is projected to reach $142 trillion by 2030. What's particularly fascinating is the underlying driver behind this trend: a growing desire for financial sovereignty, with nations developing domestic payment ecosystems rather than remaining dependent on international financial networks. Payment Ecosystem Market Development In 2024, approximately 45 percent of the global population used digital wallets – a remarkable adoption rate for a technology that barely existed a decade ago. China leads this transition, with 95 percent of its population using WeChat's payment functionality. WeChat exemplifies the "super app" phenomenon, where payment capabilities are in...