Click here to close now.

Welcome!

XML Authors: Liz McMillan, Dana Gardner, Glenn Rossman, Lori MacVittie, Pat Romanski

News Feed Item

Independent study reveals 66% reduction in key operations expense over 5 years for digital music providers adopting DDEX data exchange standards

Microgen Plc (LSE: MCGN), the enterprise software provider, today announced the results of a commissioned study conducted by Forrester Consulting on behalf of Microgen titled, ‘The Total Economic Impact of The DDEX Standards’ (January 2013). The study determined that there are significant financial benefits for digital music market participants to adopt DDEX standards.

Forrester Consulting conducted interviews with four major digital music participants, including a European rights society with relationships with over 2,000 records labels, a distributor with over 300 retailers, a subscription music service and a content owner (a label). Using the Total Economic Impact (TEI) framework, Forrester Consulting modelled the costs that rights holders and retailers (both large and small organisations) face to set up and install the data feeds required to communicate digital music inventory and usage information.

With the widespread adoption of connected devices, consumer demand for digital music continues to move faster than the media sector’s ability to fully exploit that demand. New subscription services aim to fulfil this demand but many struggle to launch platforms that enable consumers to discover relevant content and at a compelling, sustainable price.

The digital supply chain relies on the management of a high-volume of low-value transactions. The sale of a digital music track often requires record companies, retailers, collecting societies and other intermediaries to interact multiple times, from ‘announcing’ the track is available to reporting its usage. In the past, the digital music market has been hampered by non-standardised or proprietary reporting formats.

The adoption of standards supports the propagation of new technologies to distribute media, lowering the barriers to entry for new firms and ultimately resulting in increased choice and reduced costs for consumers. If artists, content labels and distributors can afford to improve and broaden their offerings, more customers will listen to digital music broadcasts and there will be more revenue for songwriters and other rights owners.

Among the key benefits of adopting DDEX standards highlighted in the Forrester Consulting TEI study are the following:

  • A reduction in data feed creation and integration expenses of 66% over 5 years
  • Reduction in data feed maintenance expenses of 25% as proprietary feeds are replaced with DDEX feeds
  • DDEX users avoid significant training costs each time new data feed is implemented
  • Labour productivity improvements from automating processing takedown requests

Forrester Consulting also anticipates that as more organizations implement DDEX in the future, new entrants and the overall DDEX ecosystem may experience the following benefits:

  • Improved time to market. Where one or both partners have already implemented DDEX standards, the time to automate message exchange with new partners will be significantly shortened. In turn, lower barriers to entry will foster new partnerships and will allow faster exploitation of market opportunities
  • Reduced start-up costs for new entrants
  • Benefits of adopting DDEX will further improve with increased adoption

“All of the organizations we interviewed were unanimous in their desire to lower the costs of managing data exchange in their part of the digital music supply chain” according to the Forrester Consulting study. “They also wanted to make their business operations more flexible and agile [,…] improve the transparency and auditability of sales data [,… and] lower the cost of entry for new players into the digital music industry.”

“The Forrester TEI study clearly presents the financial rationale for new and existing digital music market participants to incorporate standards for data exchange” states Kirit Joshi, DDEX Chairman. “An automated global transaction processing infrastructure based on open standards provides operational savings whilst enabling faster adoption of new and improved digital music options for consumers which ultimately drives revenue for content creators. “

“Microgen firmly believes in the benefits of implementing standards and the Forrester Consulting TEI study clearly outlines the value of adopting the DDEX message formats and choreographies. With the ever increasing volume of digital music and media transactions, the only way for the Digital Media Supply Chain to be efficient is to adopt these standards across the ecosystem” states Martin Redington, SVP Product & Delivery at Microgen.

Access the Forrester Consulting study at the following link: http://www.microgen.com/uk-en/enquiry-form/forrester-consulting-total-economic-impact-ddex-standards-january-2013

Methodology: Forrester Consulting Total Economic Impact (TEI) Framework

For this study, Forrester Consulting used its proven TEI framework, which provides a complete picture of technology investment decisions. Forrester Consulting interviewed four representative organisations operating in the digital music supply chain, subsequently performing financial analysis to compare the costs of DDEX against proprietary standards for data exchange. Forrester Consulting also considered the costs of data feed maintenance, training and labour productivity improvements associated with processing takedown requests. Forrester Consulting constructed a financial model, populated with the applied cost and benefit data.

About the Digital Data Exchange (“DDEX”)

DDEX is a consortium of leading media companies, music licensing organisations, digital service providers and technical intermediaries, focused on the creation of digital supply chain standards.

To support the automated exchange of information along the digital supply chain, DDEX has standardised the format in which information is represented in XML messages and the method by which the messages are exchanged between business partners. These standards are developed and made available for industry-wide implementation.

DDEX standards help rights holders, retailers and technical intermediaries to more effectively communicate information along the digital supply chain. This leads to efficient business transactions, reduced costs and increased revenues for all sectors involved.

Formed in 2006, DDEX initially focused on standardising message formats for the digital music supply chain but the foundation of the standards is sufficiently generic that they can easily be adapted to other digital media supply chains. Find out more about DDEX at www.ddex.net.

About Microgen

Microgen is an enterprise software provider that enables business teams to quickly address their most demanding application requirements.

Microgen is recognised for its expertise in finance integration and for the Microgen Aptitude, Enterprise Application Platform, used to quickly build bespoke business applications. Microgen delivers software, applications and services to many of the world’s largest financial services, digital media and telecommunication companies.

Microgen is headquartered in London, UK with offices worldwide. Find more information about Microgen at www.microgen.com.

Microgen ® Microgen plc. Microgen Aptitude ® Microgen Aptitude Limited.

Microgen Aptitude - European & U.S. Patents Pending (for more information please refer to our website: http://www.microgen.com/uk-en/company/patents-and-trademarks)

All other trademarks are the property of their respective companies.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
The cloud is now a fact of life but generating recurring revenues that are driven by solutions and services on a consumption model have been hard to implement, until now. In their session at 16th Cloud Expo, Ermanno Bonifazi, CEO & Founder of Solgenia, and Ian Khan, Global Strategic Positioning & Brand Manager at Solgenia, will discuss how a top European telco has leveraged the innovative recurring revenue generating capability of the consumption cloud to enable a unique cloud monetization model to drive results.
As organizations shift toward IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. CommVault can ensure protection &E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his session at 16th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Partnerships, will discuss how to cut costs, scale easily, and unleash insight with CommVault Simpana software, the only si...
Docker is an excellent platform for organizations interested in running microservices. It offers portability and consistency between development and production environments, quick provisioning times, and a simple way to isolate services. In his session at DevOps Summit at 16th Cloud Expo, Shannon Williams, co-founder of Rancher Labs, will walk through these and other benefits of using Docker to run microservices, and provide an overview of RancherOS, a minimalist distribution of Linux designed expressly to run Docker. He will also discuss Rancher, an orchestration and service discovery platf...
Analytics is the foundation of smart data and now, with the ability to run Hadoop directly on smart storage systems like Cloudian HyperStore, enterprises will gain huge business advantages in terms of scalability, efficiency and cost savings as they move closer to realizing the potential of the Internet of Things. In his session at 16th Cloud Expo, Paul Turner, technology evangelist and CMO at Cloudian, Inc., will discuss the revolutionary notion that the storage world is transitioning from mere Big Data to smart data. He will argue that today’s hybrid cloud storage solutions, with commodity...
Cloud data governance was previously an avoided function when cloud deployments were relatively small. With the rapid adoption in public cloud – both rogue and sanctioned, it’s not uncommon to find regulated data dumped into public cloud and unprotected. This is why enterprises and cloud providers alike need to embrace a cloud data governance function and map policies, processes and technology controls accordingly. In her session at 15th Cloud Expo, Evelyn de Souza, Data Privacy and Compliance Strategy Leader at Cisco Systems, will focus on how to set up a cloud data governance program and s...
Roberto Medrano, Executive Vice President at SOA Software, had reached 30,000 page views on his home page - http://RobertoMedrano.SYS-CON.com/ - on the SYS-CON family of online magazines, which includes Cloud Computing Journal, Internet of Things Journal, Big Data Journal, and SOA World Magazine. He is a recognized executive in the information technology fields of SOA, internet security, governance, and compliance. He has extensive experience with both start-ups and large companies, having been involved at the beginning of four IT industries: EDA, Open Systems, Computer Security and now SOA.
The industrial software market has treated data with the mentality of “collect everything now, worry about how to use it later.” We now find ourselves buried in data, with the pervasive connectivity of the (Industrial) Internet of Things only piling on more numbers. There’s too much data and not enough information. In his session at @ThingsExpo, Bob Gates, Global Marketing Director, GE’s Intelligent Platforms business, to discuss how realizing the power of IoT, software developers are now focused on understanding how industrial data can create intelligence for industrial operations. Imagine ...
Every innovation or invention was originally a daydream. You like to imagine a “what-if” scenario. And with all the attention being paid to the so-called Internet of Things (IoT) you don’t have to stretch the imagination too much to see how this may impact commercial and homeowners insurance. We’re beyond the point of accepting this as a leap of faith. The groundwork is laid. Now it’s just a matter of time. We can thank the inventors of smart thermostats for developing a practical business application that everyone can relate to. Gone are the salad days of smart home apps, the early chalkb...
We certainly live in interesting technological times. And no more interesting than the current competing IoT standards for connectivity. Various standards bodies, approaches, and ecosystems are vying for mindshare and positioning for a competitive edge. It is clear that when the dust settles, we will have new protocols, evolved protocols, that will change the way we interact with devices and infrastructure. We will also have evolved web protocols, like HTTP/2, that will be changing the very core of our infrastructures. At the same time, we have old approaches made new again like micro-services...
Operational Hadoop and the Lambda Architecture for Streaming Data Apache Hadoop is emerging as a distributed platform for handling large and fast incoming streams of data. Predictive maintenance, supply chain optimization, and Internet-of-Things analysis are examples where Hadoop provides the scalable storage, processing, and analytics platform to gain meaningful insights from granular data that is typically only valuable from a large-scale, aggregate view. One architecture useful for capturing and analyzing streaming data is the Lambda Architecture, representing a model of how to analyze rea...
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile devices as well as laptops and desktops using a visual drag-and-drop application – and eForms-buildi...
SYS-CON Events announced today that Vitria Technology, Inc. will exhibit at SYS-CON’s @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Vitria will showcase the company’s new IoT Analytics Platform through live demonstrations at booth #330. Vitria’s IoT Analytics Platform, fully integrated and powered by an operational intelligence engine, enables customers to rapidly build and operationalize advanced analytics to deliver timely business outcomes for use cases across the industrial, enterprise, and consumer segments.
SYS-CON Events announced today that Dyn, the worldwide leader in Internet Performance, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Dyn is a cloud-based Internet Performance company. Dyn helps companies monitor, control, and optimize online infrastructure for an exceptional end-user experience. Through a world-class network and unrivaled, objective intelligence into Internet conditions, Dyn ensures traffic gets delivered faster, safer, and more reliably than ever.
Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 16th Cloud Expo at the Javits Center in New York June 9-11 will find fresh new content in a new track called PaaS | Containers & Microservices Containers are not being considered for the first time by the cloud community, but a current era of re-consideration has pushed them to the top of the cloud agenda. With the launch of Docker's initial release in March of 2013, interest was revved up several notches. Then late last...
CommVault has announced that top industry technology visionaries have joined its leadership team. The addition of leaders from companies such as Oracle, SAP, Microsoft, Cisco, PwC and EMC signals the continuation of CommVault Next, the company's business transformation for sales, go-to-market strategies, pricing and packaging and technology innovation. The company also announced that it had realigned its structure to create business units to more directly match how customers evaluate, deploy, operate, and purchase technology.
In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect at GE, and Ibrahim Gokcen, who leads GE's advanced IoT analytics, focused on the Internet of Things / Industrial Internet and how to make it operational for business end-users. Learn about the challenges posed by machine and sensor data and how to marry it with enterprise data. They also discussed the tips and tricks to provide the Industrial Internet as an end-user consumable service using Big Data Analytics and Industrial Cloud.
Performance is the intersection of power, agility, control, and choice. If you value performance, and more specifically consistent performance, you need to look beyond simple virtualized compute. Many factors need to be considered to create a truly performant environment. In his General Session at 15th Cloud Expo, Harold Hannon, Sr. Software Architect at SoftLayer, discussed how to take advantage of a multitude of compute options and platform features to make cloud the cornerstone of your online presence.
The explosion of connected devices / sensors is creating an ever-expanding set of new and valuable data. In parallel the emerging capability of Big Data technologies to store, access, analyze, and react to this data is producing changes in business models under the umbrella of the Internet of Things (IoT). In particular within the Insurance industry, IoT appears positioned to enable deep changes by altering relationships between insurers, distributors, and the insured. In his session at @ThingsExpo, Michael Sick, a Senior Manager and Big Data Architect within Ernst and Young's Financial Servi...
Even as cloud and managed services grow increasingly central to business strategy and performance, challenges remain. The biggest sticking point for companies seeking to capitalize on the cloud is data security. Keeping data safe is an issue in any computing environment, and it has been a focus since the earliest days of the cloud revolution. Understandably so: a lot can go wrong when you allow valuable information to live outside the firewall. Recent revelations about government snooping, along with a steady stream of well-publicized data breaches, only add to the uncertainty
The explosion of connected devices / sensors is creating an ever-expanding set of new and valuable data. In parallel the emerging capability of Big Data technologies to store, access, analyze, and react to this data is producing changes in business models under the umbrella of the Internet of Things (IoT). In particular within the Insurance industry, IoT appears positioned to enable deep changes by altering relationships between insurers, distributors, and the insured. In his session at @ThingsExpo, Michael Sick, a Senior Manager and Big Data Architect within Ernst and Young's Financial Servi...