This presentation discusses what is happening today in Second Life and other virtual worlds from a business perspective. It also presents four scenarios for the future as well as discusses what
This presentation discusses what is happening today in Second Life and other virtual worlds from a business perspective. It also presents four scenarios for the future as well as discusses what businesses should do.
Fad or Future - What Do Virtual Worlds Have to Offer? Dr. Robin Teigland Stockholm School of Economics [email_address] www.knowledgenetworking.org IFL Conference on Second Life & Virtual Worlds June 14, 2007
What about Return on Investment in SL? We have a long-term approach to costs and RoI. We have qualitative goals, to expand and develop our presence. - BMW We have no targets for RoI. -ABN Amro There needs to be some RoI eventually, but this is a long-term project and we are just looking at the potential. - Vodafone Financial Times , May 2007
Is there critical mass on Second Life? * Municipality (kommun) wikipedia.org 43 988 42,060 Motala* 162 263 42,500 Online, Fri, Jun 8 11:30 pm (GMT+1) Second Life 177 41,284 7,252,330 Switzerland Density (people per km 2) Land area (km 2) Population Location
Is there critical mass on Second Life? * Municipality (kommun) wikipedia.org 1,391 138 195,250 Richmond, VA 1,434 0.06 95 Online, Fri, Jun 8 11:30 pm (GMT+1) Phat Cat’s #1 popular site 10,316 786 8,143,000 New York 24,759 87 2,153,600 Paris 1,083 450 489,760 Gothenburg* 4,164 188 782,890 Stockholm* Density (people per km 2) Land area (km 2) Population Location
And is anyone making money? What are these individuals selling? Real estate & land rentals Simulation environments Clothing, accessories, skins Art, design, furniture USD >5K USD 2-5K SL, June 10, 2007 Total of 427
Consider creating independent organization for more serious efforts
Anonymous bank buying virtual banking contract on Entropia Universe
But don’t forget other emerging media
Coca-Cola uses combination of all new media channels, e.g., YouTube, MySpace, SL, MyCoke
“ I think there’s a world market for maybe five computers.” Thomas Watson, Chairman of IBM, 1943 “ There is no reason anyone would want a computer in their home.” Ken Olson, President, Chairman and Founder of Digital Equipment Corporation, 1977 “ Heavier-than-air flying machines are impossible.” Lord Kelvin, President, Royal Society, 1895
All the things right, but not the right thing!
Increasing pace of change! Spread of Technology (Penetration rates years after introduction, Year I =Year Invented)