Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


New Digital Ventures initiative launched by Telecom

MEDIA RELEASE


8 April 2012


New Digital Ventures initiative launched by Telecom


Telecom announced today the formation of a new Digital Ventures team to focus on high potential growth opportunities in a controlled ‘incubator’ type setting. The initiative is part of Telecom’s reshaping of the business around the realities of fast changing industry and consumer dynamics.

The Telecom Digital Ventures team will be focused on developing and growing new businesses and services to add value to existing offerings, build new revenue streams and generate commercial returns from them.

Simon Moutter, Chief Executive of Telecom, said, “As we have previously announced, Telecom is making a strategic shift to a future oriented, competitive provider of communications, entertainment and IT services over our networks and the Cloud. It won’t be enough for us to become just cost competitive, we also need to identify future revenue generating opportunities that are arising in a rapidly changing world. Telecom Digital Ventures is an important step along the way.”

Telecom Digital Ventures will be headed up by Rod Snodgrass, who has been Chief Product Officer at Telecom for the last two years. Rod’s responsibilities with existing products have been devolved into other parts of the organisation.

Telecom Digital Ventures is structured to be relatively small scale, agile, highly innovative and with a greater propensity for partnering and forming alliances to address new markets and opportunities and build new businesses and services. This will allow potential new businesses and products to be tested and developed with modest levels of investment and risk. In keeping with the incubator-style philosophy, as successful new activities developed in the Digital Ventures team grow and mature they will most likely rejoin Telecom’s core business units or may become businesses in their own right.

Rod Snodgrass said, “In recent years there has been explosive growth in consumer demand for data and information and entertainment services, anywhere, anytime. And these data and mobility mega trends are only going to continue as a digital life becomes a reality. While these trends carry challenges, they also point towards potential and emerging business growth opportunities.

“While we are still in the early stages of developing the Telecom Digital Venture plan of attack it is already clear where we need to focus. These include some product initiatives we have underway, such as Financial Services including our existing NFC and m-Wallet initiatives, Big Data and Advertising, OTT Services including Entertainment and Home Management as examples, e-verticals such as e-health and e-learning and applications development.”


- ENDS –

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Insurers Up For More Payouts: Chch Property Investor Wins Policy Appeal In Supreme Court

Ridgecrest NZ, a property investor, has won an appeal in the Supreme Court over insurance cover provided by IAG New Zealand for a Christchurch building damaged in four successive earthquakes. More>>

ALSO:

Other Cases:

Royal Society: Review Finds Community Water Fluoridation Safe And Effective

A review of the scientific evidence for and against the efficacy and safety of fluoridation of public water supplies has found that the levels of fluoridation used in New Zealand create no health risks and provide protection against tooth decay. More>>

ALSO:

Scoop Business: Croxley Calls Time On NZ Production In Face Of Cheap Imports

Croxley Stationery, whose stationery brands include Olympic, Warwick and Collins, plans to cease manufacturing in New Zealand because it has struggled to compete with lower-cost imports in a market where the printed word is giving way to electronic communications. More>>

ALSO:

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news