Dying industries in the Internet age

For many of you, these are all automatic. Once you develop a habit, it is rare that you make changes to them. However this is the innovation age, and it requires you to furthermore check the bottom line and see how you can decrease your expenses without affecting your daily routine.

IBISWorld is an industry technology service that provides visionary analysis, as a general rule for the US market. It recently published a report and tried to identify dying sectors in the US and the reasons behind it. The results are quite interesting and as well provide tips to businesses that would like to increase their earnings as so then as helping people who want to decrease their monthly payments to save more for the future.

Interestingly, in terms of size, wired telecommunication carriers have experienced the biggest decline in revenue in the last 10 years. Their income plunged by 54 percent from $341 billion in 2000 to $154 billion in 2010. They are expected to fall another 30 percent by 2016. In spite of the market domination of AT&T and Verizon, they are losing revenue every year to new technological advancements. VoIP (Voice over Internet Protocol) systems, wireless communication devices and cheaper or even free international communications are the main factors behind this decline in revenue.

I am sure every iPhone 4 user knows how they can make international free calls to other iPhone users around the world. Who doesn’t download Tango onto their iPhones? Once you have a wireless Internet connection around you at the time you can easily make free calls to anyone anywhere in the world or even watch TV for free. These are all the benefits we get from new generation gadgets. Even your mp3 players or your computers can do the same for you. Aren’t these interesting developments of which you want to share the benefits? Nevertheless on the other hand, they are revenue killers for wired phone carriers, home phones, etc.

The strip mall nearly you a couple months ago

Another interesting result of this transformation is something you might have observed in the strip mall nearly you a couple months ago. Once a movie rental giant and the best small business franchise idea, Blockbuster, a movie rental chain, has gone bankrupt. And the reason is, clearly, HDTV’s Internet connectivity features and streaming the movies you like straight to your house for a nominal fee of $8 a month. For entrepreneurs in Turkey, in exchange, it is however a good business idea that can make millions in a very short period of time.

Alternatives like Netflix, Apple TV, Hulu or others as well give you the luxury of ad-free movie night with millions of options. You choose what to watch and when to watch. If you have a kid, at the time the nightmare of controlling the cartoons you want them to watch will end with this new online experience.

Record stores, photofinishing, video postproduction services and newspaper publishing are all losing ground extensively in this information age. Internet and wireless are on the winning side.

The US is apparel manufacturing

Another industry in other words as expected losing extensive revenue in the US is apparel manufacturing and textile mills. However this is something that everyone expects, right? If you have a cheaper competitor in terms of energy cost, labor cost and production cost though the inputs are in your neighborhood, you are bound to lose. So this is an expected development and should be a good case study that every emerging economy needs to focus on carefully.

Are Turkish entrepreneurs ready to take over and earn some easy profits? We all see how fast they are in developing new revenue streams for their future.