This week, the world has found itself once again in the midst of a “privacy” battle with social media. Facebook’s CEO, Mark Zuckerberg is facing huge backlash in the wake of revelations that the personal data of 50 million Facebook users was used without their permission by political data company Cambridge Analytica during the 2016 presidential campaign to directly influence their votes.
The telecommunications industry will lose a combined $386 billion between 2012 and 2018
However, such moral dilemmas are far from pushing these Social Media kings from their thrones and will certainly not directly affect their huge revenues and profits, making it even rougher for Telcos to counter these apps even with their declining voice and data services offers. The growth in global demand for data is driven by a number of factors including improvements in the availability and speed of broadband networks, the growing capability and affordability of wireless devices such as smartphones and tablets, and the continued dominance of social media.
According to the London-based research and analytics firm Ovum, the telecommunications industry will lose a combined $386 billion between 2012 and 2018, the firm predicts, from customers using over-the-top (OTT) voice applications such as the market-leading Skype and Lync, both owned by Microsoft. Many predict that the current impact of OTT services on the Operators’ revenue streams is just the beginning if they don’t start acting fast in terms of improving Data services and cost.
In fact, several Asian telecom companies including China Mobile—the world’s biggest mobile carrier with more than 760 million subscribers—have blamed OTT chat apps for disappointing financial results. Still, some telecoms are finding new ways to stop the hemorrhaging caused by OTT services through innovative approaches and special deals for their subscribers. Some Operators are opting packages with different data download speeds while including unlimited national calls and SMS, while others are putting a higher price on their Data packages all while giving ultimate speed and improving their infrastructures.
It is also worth noting that recent studies predict 5G subscriptions will exceed 500 million by the end of 2022, with the technology then covering around 15 percent of the world’s population. Major advances in data analytics, artificial intelligence, network equipment, and other technologies have rewritten the industry’s winning formula.
So operators can no longer sit within the margins of this evolution and need to tackle their customers’ needs while preserving and growing their revenues.
Want to find out how? We, at Monty Mobile can help you make these necessary transitions with our brand-new services that will guarantee your customer satisfaction. Operators have a multitude of hidden opportunities they can benefit from, and with our services topped by our guidance, we guarantee a win-win situation for all.