|By Business Wire||
|January 25, 2013 03:00 AM EST||
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.
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.
SYS-CON Events announced today that BMC Software has been named "Siver Sponsor" of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. BMC is a global leader in innovative software solutions that help businesses transform into digital enterprises for the ultimate competitive advantage. BMC Digital Enterprise Management is a set of innovative IT solutions designed to make digital business fast, seamless, and optimized from mainframe to mo...
May. 26, 2016 12:00 PM EDT Reads: 1,963
Join us at Cloud Expo | @ThingsExpo 2016 – June 7-9 at the Javits Center in New York City and November 1-3 at the Santa Clara Convention Center in Santa Clara, CA – and deliver your unique message in a way that is striking and unforgettable by taking advantage of SYS-CON's unmatched high-impact, result-driven event / media packages.
May. 26, 2016 12:00 PM EDT Reads: 2,178
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 18th International CloudExpo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
May. 26, 2016 11:45 AM EDT Reads: 2,167
18th Cloud Expo, taking place June 7-9, 2016, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some...
May. 26, 2016 11:45 AM EDT Reads: 2,987
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, will provide an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life ...
May. 26, 2016 11:30 AM EDT Reads: 1,832
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York. “CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...
May. 26, 2016 11:30 AM EDT Reads: 952
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York and Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty ...
May. 26, 2016 11:15 AM EDT Reads: 2,457
What a difference a year makes. Organizations aren’t just talking about IoT possibilities, it is now baked into their core business strategy. With IoT, billions of devices generating data from different companies on different networks around the globe need to interact. From efficiency to better customer insights to completely new business models, IoT will turn traditional business models upside down. In the new customer-centric age, the key to success is delivering critical services and apps wit...
May. 26, 2016 11:00 AM EDT Reads: 1,044
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discuss how businesses can gain an edge over competitors by empowering consumers to take control through IoT. We'll cite examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He'll also highlight how IoT can revitalize and restore outdated business models, making them profitable...
May. 26, 2016 10:45 AM EDT Reads: 2,674
Designing IoT applications is complex, but deploying them in a scalable fashion is even more complex. A scalable, API first IaaS cloud is a good start, but in order to understand the various components specific to deploying IoT applications, one needs to understand the architecture of these applications and figure out how to scale these components independently. In his session at @ThingsExpo, Nara Rajagopalan is CEO of Accelerite, will discuss the fundamental architecture of IoT applications, ...
May. 26, 2016 10:45 AM EDT Reads: 1,061
SoftLayer operates a global cloud infrastructure platform built for Internet scale. With a global footprint of data centers and network points of presence, SoftLayer provides infrastructure as a service to leading-edge customers ranging from Web startups to global enterprises. SoftLayer's modular architecture, full-featured API, and sophisticated automation provide unparalleled performance and control. Its flexible unified platform seamlessly spans physical and virtual devices linked via a world...
May. 26, 2016 10:15 AM EDT Reads: 1,941
In his session at 18th Cloud Expo, Bruce Swann, Senior Product Marketing Manager at Adobe, will discuss how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects). Bruce Swann has more than 15 years of experience working with digital marketing disciplines like web analytics, social med...
May. 26, 2016 10:00 AM EDT Reads: 1,230
SYS-CON Events announced today that EastBanc Technologies will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. EastBanc Technologies has been working at the frontier of technology since 1999. Today, the firm provides full-lifecycle software development delivering flexible technology solutions that seamlessly integrate with existing systems – whether on premise or cloud. EastBanc Technologies partners with p...
May. 26, 2016 10:00 AM EDT Reads: 2,022
SYS-CON Events announced today that 24Notion has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. 24Notion is full-service global creative digital marketing, technology and lifestyle agency that combines strategic ideas with customized tactical execution. With a broad understand of the art of traditional marketing, new media, communications and social influence, 24Notion uniquely understands how to con...
May. 26, 2016 10:00 AM EDT Reads: 1,758
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
May. 26, 2016 08:45 AM EDT Reads: 2,928
Companies can harness IoT and predictive analytics to sustain business continuity; predict and manage site performance during emergencies; minimize expensive reactive maintenance; and forecast equipment and maintenance budgets and expenditures. Providing cost-effective, uninterrupted service is challenging, particularly for organizations with geographically dispersed operations.
May. 26, 2016 08:45 AM EDT Reads: 1,728
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
May. 26, 2016 07:45 AM EDT Reads: 1,844
SYS-CON Events announced today Object Management Group® has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
May. 26, 2016 06:15 AM EDT Reads: 2,303
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
May. 26, 2016 05:45 AM EDT Reads: 2,663
SYS-CON Events announced today that MobiDev will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex software systems for startups and enterprises. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobile software company with over 200 develope...
May. 26, 2016 05:15 AM EDT Reads: 2,455