“… innovation is going to be led by video and many companies are not prepared to capitalize on its power. Everywhere around you people have smart phones and they do something with it that has an element of video. That is very different than we did a couple of years ago.”
(As) video becomes integrated in many different business models and sooner or later all companies, regardless of industry, will need to find creative ways to incorporate video into marketing, sharing of information, communication, and learning. Those companies that are unable to cater to different audiences via various media will suffer.
“It’s not just the phone industry or the media industry. It is going to be incorporated into every business model you find around the globe.”
Verwaayen says the U.S. and Europe have embraced different content formats and that Asia is catching on. ” The world is going to be a place where applications are going to cater to the taste of consumers and from that perspective consumers have all the power.”