10 Business Ideas

Company name

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By Ana Maria Nevito

Although the company is currently doing great efforts and has brought to life different open source

services, it needs to bring tangible ROI to them

TACKLE 1ST RISK - EMBRACE THE OPEN SOURCE MOVEMENT

01PermID - Creates a unique

reference to a piece of information It helps to link data silo

The potential: + Data to platform = Accuracy

What? A paid support service with PermID where customers can access additional services for the analysis of the data they have linked

How? Thomson Reuters will use underlying data models and tools to provide unique analysis and extract meaningful insights about the data

Why? Customers want to know: What added value can I get from this linked data? applications, visualisations, analytics, predictions, EtcUse of permID Data

to sell supporting services and tools

Pioneered the original open source business model– $1.87 billion in Cash & Investments – $1.49 billion Deferred Revenues, up 14% y/y (11/30/15)

Gives away open source software for free but charges a support fee to those customers who rely on Red Hat for maintenance, support, and installation Source: Contributor. (2014, February 13). Why there will never be another RedHat: The economics of open source.

Who?

02Allows third-party developers to create apps to display on the Eikon screen, distributing them directly and securely to Eikon users

What? Two different revenue models for the App Studio service, as a two sided platform

How? In-house developers and independent software vendors build App then:

1.They post it in App Studio, for a price:

App developers = 100% App price - XX% (Thomson Reuters receives for hosting the application in the store)

- Thomson Reuters buys the application from developers for certain amount of money and then offers the use of the application to its users for a fixed price

Why? Customers want integration of tools from different vendors in one place = Efficiency = Added value

Make App Studio for Eikon the best

financial App store

Google Play downloads are expected to triple by 2020, when the global app market is expected to break the $100 billion barrier

Google Play allows developers to distribute apps. Developers receive 70 percent of the application price, while the remaining 30 percent goes to the distribution partner and operating fees Allows developers to release early versions of apps to a select group of users, as alpha- and beta-testing versions Source:Palumbo, D. (2015, October 23). The sweet symphony of disruption | Vrge strategies.

It works!

03 What? A analytical tools set for applications developers in App Studio

How? Is possible for Thomson Reuters to get the trends in the market of financial applications from analysing downloads, transactions, usage and time spent in the applications contained at the App Studio.

Why? App developers want to measure the success of their launched app, they want to know ways to improve it

Sell analytical reports and tools that are

insightful for application developers

Has In-App Analytics to help understand user behavior and ultimately user value over time.

Who?

Aimed for App Studio Developers

This will allow them to offer a broader array of products and services

TACKLE 2ND RISK - INVEST IN TECHNOLOGY, COLLABORATIONS &

PARTNERSHIPS

04With Catalyst

Fund project build an open

innovation accelerator

What? Create its own accelerator for open innovation for internal and external entrepreneurs

How? With the current Catalyst Fund project ( fosters intrapreneurship) provide foundation for an ecosystem hosting ground to small, innovative fintech firms

Why? The company can get revenue by fostering business ideas creation for start-ups that develop application solutions that can later be sold in the App Studio platform or as other services

ARUP

Created an ecosystem of open innovators = New products, ways of working, saved time & money

Partnering with startups allows them to rapidly move into emerging domains and seize opportunities

For the startup: Arup’s way of working provides a number of benefits, including no demands for equity, the retention of autonomy, and immediate access to clients and markets Source:Open Data Institute (2016) Open enterprise: how three big businesses create value with open innovation. London, UK.

Who?

05Collaboration with

symphony Partnering with a disruptor

to build an enhanced communications platform

What? A collaboration to build an upgraded version of a combined messenger application

How? Thomson Reuters Eikon messenger and Symphony would connect their current messenger base, for a bigger unified network in the messaging platform

Why?Good for users: They want an unified solutions to communicate “one place, any time, and any way” interactions

Good for TR: To increase its market share linking traders across the main global financial markets. Allows to get its products out to a bigger community

BBC & Spotify:The BBC Playlister app on Spotify, enables music fans to enjoy BBC music content from across the broadcaster’s biggest presenters, radio and TV shows Purpose: To reach a specific segment of consumers, utilising each other’s value propositions Results: • Increased demand for content on both Radio 1 and Spotify playlists. • Network effect of the partnership Source: Teresa Turiera & Susanna Cros. (2013, February ). 50 examples of business collaboration.

It Works!

06Lower cost Eikon

software

What? Providing an effective lower cost version from the most appreciated tools at the Eikon Software

How? Choose from the current content of tools in Eikon a efficient low cost and freemium software, suitable for anybody

Non professional users- students/ professors = Freemium model

Low cost = New entrepreneurs and people that at the end only need a few great features from the current Eikon

Why? Customers: Want affordable solutions

Access to unserved market: Is proven that the number of subscriptions have not been growing as much, due to high cost. There is place to reach a bigger share of the market

Money.NetProvides all of the market price data and equity fundamentals (financials, corporate actions, news etc.) using new intuitive technology for 15x less expense

Cost. $95/mo for non-industry users Industry users will have to pay additional professional exchange fees Source: Zeien, L. (2015, August 27). Financial trading data is more accessible with money.Net.

Who?

(more intuitive, efficient, affordable, modern systems)

07Tailor-made

products

What? Individual customisation in Products

How? Allow companies and users to choose the features they want in the software, making it personalised and variable price range

Recognised products: Thomson Reuters Eikon and Thomson Reuters Westlaw (U.S.),making it personalised and variable price range

Why? Customers: Want greater individual customisation. Greater menu of options

Good for TR: To help subscription retention rate and new customers conversion

Cloudera

Software company that provides Apache Hadoop-based software, support and services, and training to business customers. Cloudera's open-source Apache Hadoop distribution, CDH (Cloudera Distribution Including Apache Hadoop), targets enterprise-class deployments of that technology. The price can vary depending on the buyer's specific need

Who?

(Thomson Reuters Eikon andThomson Reuters Westlaw (U.S.))

CNN

From 2015, shows daily stories

Uses the channel to advertise as well (BMW)

Success: • Around themed editions • High increased in views and sharing Source: Flynn, K. (2016, January 27). Snapchat discover One year later: How 23 media companies are building stories for Evan Spiegel. Technology.

Reuters News: By building a Special news Snapchat channel08

What? Develop a special news channel in the Discover feature of snapchat. It needs to have a simple user-friendly design, for easy mobile visualisation

How? Through the snapchat application building an exclusive content channel. The idea is to evolve with the millennial generation

Why? It’s Good for TR

1. it can generate money through a new form of advertising - Partnerships

2. It would improve user visibility – since more users are going to mobile, on the go. Engage new type of audience

Approach a new communication channel

It works!

Limit the access to users to the content in the website and apps

(Specially intended for other publishers)

09

What? A new source of revenue for Reuters News by introducing a subscription model

How? Provide users free access to short version of news and articles in the website and apps, but limit their access unless they pay monthly or daily subscription: • Access to read all articles • Access to use the apps • Download info PDF

Why? It’s Good for TR

High reputation People will pay!

= Recurrent successful revenue

Reuters News to introduce a subscription model

Süddeutsche Zeitung No 1 newspaper in the broadsheet/quality market. Introduced a new business model to tackle the decline in paper sales ( SZplus)

- Provides certain number of stories free to read. After that users are asked to register - and pay

- They have two web versions to choose from: one more laid back, giving the content of the day; the other one more newsy, rotating

Source:Penketh, A., Oltermann, P., & Burgen, S. (2016, August 11). European newspapers search for ways to survive digital revolution. The Guardian.

Who?

Reuters video through Facebook Live & Periscope 10

What? Make use of live streaming platforms to report news around the world

How? Reuters can transmit real time in open platforms like Facebook live and Periscope for breaking headlines or live events worldwide

Why? Users want access of information: “any place, any time, and any way”

Good for TR: It can allow content to reach a bigger audience without prior advertising

Implement the use of Live streaming From Facebook & Periscope

Award-winning agencyPeriscope: Used it to broadcast an interview roundtable for an entertainment client leading into the season premiere of one of their shows. The activation yielded an exceptional number of views with no paid support or prior promotion of the event

Facebook Live: Used it to broadcast an exclusive Q&A session for an entertainment client. The Live videos surpassed all organic benchmarks, with significant increases in reach, interactions, and video Source:Live from Facebook, Periscope & Snapchat: It’s streaming video - 360i digital agency Blog. (2016, March 17).

Who?