The best thing about technological innovation is that it generally follows the consumer. New innovations are a great thing by themselves, but it is usually the consumer who takes innovation and makes it their own. Finding out how to capitalize on consumer use of technology is the key, and the way to make excessive profits for some time to come.
Brilliant Technologies Corporation, a technologies holding company, works to identify and commercialize technologies directed at the online consumer. The company’s products, at this point, are primarily software products developed through its wholly owned Australian subsidiary, LTDnetworks Inc. This subsidiary has been working since 2000 on software that directly identifies consumers based on the type of advertising they find interesting and actionable – a type of software that is now the most sought-after form of online advertising today. A string of product initiatives are planned for release as becomes appropriate.
The project that has people listening today is called Qtrax. This new, file sharing software program is directed at the person-to-person (P2P) music file sharing market. Currently, consumers are sharing their favorite music illegally by downloading it and then sending it to friends. Qtrax, with contracts in place with all major record labels, allows downloaders to download music legally and for free while giving artists, record labels and rights holders their share of profits. The company makes its money through paid advertising.
Music file sharing and downloading of music has been an extremely hot topic of late as billions of dollars are lost to illegal downloads. Providing all music to downloaders in a form that brings revenue back to the artist and record label is a mammoth step forward, and apparently finding acceptance among the downloaders themselves. Alexa (an online tracking service accepted by most as the “Nielsen’s” of the online world) indicates that 60,000 people are using the site at any one time, and that it is now 2d in terms of visits. Positive impressions on advertising are also exceptionally high.
If the software works as advertised, it could solve massive revenue problems at recording companies and major issues plaguing the music world as it tries to catch up with consumers and their technology/music habits. Trading is anticipated to begin soon for this software, in tradable company form, when LTDnetworks Inc. allows Qtrax to merge with an entity called Flooring Zone.
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