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Remedy in the news - Smart Money Magazine
Remedy in the news - Smart Money Magazine

Remedy in the news - Smart Money Magazine

Remedy Communications is in the news again, this time with an article by Smart Money magazine about businesses and enterprise value in virtual worlds. The story focuses on companies who have gotten past the initial 'hype' of new technology and are using the collaboration and meeting tools of virtual worlds to expand their business. The article quotes Doug Thompson, CEO of Remedy Communications, who says stable growth often occurs after the period of hype dies down and greater awareness of its capabilities sets in.

The story suggests that while a large percentage of real-world money is made in programs like Second Life via the sale of virtual real estate, clothing, hair and items for avatars, companies are beginning to use it on a regular basis for trade shows, conferences, meeting and other forms of collaboration.

From the Smart Money article:

"With many new technologies, there’s a period of hype-fueled growth, followed by disillusionment. Only later does stable growth arrive. Virtual worlds have reached a stage where new users continue to build, even though the media has moved on to fan the fires of Facebook and Twitter, says Douglas Thompson, CEO of Remedy Communications, a Toronto marketing firm. Second Life says the time spent on the site by users increased 21 percent in 2009. Most paying customers on Second Life are purely social, but it still boasts 1,400 business-related organizations as users. Thompson says traffic on Metanomics, his company’s Second Life video presence, has picked up in the past year, with 50 percent of new users coming from small or medium-size companies. “People no longer ask what an avatar is,” says Thompson. “We can thank Jim Cameron for that.”

Smart Money magazine is a Wall Street Journal publication, distributed monthly with a circulation of roughly 800,000. It has been in publication since 1993.

 

rob walker
Remedy in the news - Smart Money Magazine

rob walker

Rob Walker is the Project Manager of Social and Immersive Media at Remedy. He helps produce Metanomics and spends a great deal of time in virtual worlds, where he talks about branding, social media and strategy with dragons and clockwork robots over tea.