This is a very European thing, you’ll probably never hear it in U.S., but anyway, apparently TMT or “technology, media and telecoms”, is dead and NEM, or networked and electronic media, is the new kid in town, Frank Dangeard, CEO of French media services group Thomson, said.
He was launching NEM, a joint initiative by Europe’s telecoms, electronics and media companies to work together in research. NEM, backed by groups such as Nokia, Philips and BBC will apply for research funding from the EU to develop new services to deliver content over the Web or by phone. For example, Thomson and Alcatel are already working together to cut the cost of supplying video over telecom networks.
Dangeard hopes the initiative will help Europe create a group of large media companies like in the United States.
Official release: NEM addresses a market estimated at 600 billion euros in 2005 and provides more than 1.5 million jobs. Implementing the NEM vision could increase the number of jobs in this area to 3 million by 2015. According to estimates by NEM, Europe would have to invest about 3.5 billion euros during the period 2007-2013 in order to make a significant contribution to fostering Europe’s growth, competitiveness, and sustainable development.
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