For example, look at streaming video services. According to a study by ABI Research, the market for these services is growing rapidly and is expected to hit $20 billion by 2015. As the market for these services continue to grow, the providers face the challenge of developing services that are more social in nature. This is something that no provider has achieved, but perhaps if they looked externally, one could argue that they would find opportunities to collaborate with other developers and/or start-ups–or even academia–to arrive at solutions much quicker.
While cooperating with other companies in your own industry may seem counterintuitive to competitiveness–the simple fact is it's not. At Verizon, we are committed to the concept of "co-opetition." For example, Verizon is collaborating with content providers and software developers to provide live TV and video-on-demand content both inside and away from home to FiOS TV customers. Through these partnerships, we have developed the FiOS Mobile app which delivers a simple, seamless way for our customers to watch their favorite programming and content wherever they are, whenever they want. We have also started engaging with developers and start-ups through "meet-ups" in select cities, aimed at creating an environment that showcases the newest innovations to solve the challenges facing today's connected home.
Collaboration is no longer just a strategy: it is the key to long-term business success and competitiveness. Businesses that realize this sooner rather than later will be the ones who win the game and succeed in the new global economy.
—Bob Mudge is President of Consumer and Mass Business at Verizon