Eastman Kodak, which is halfway through a 4 year restructuring in a shift to digital, today reported a 12% rise in 4th quarter revenues led by a 45% jump in the sale of digital products and services.
For 2005 digital sales represented 54% of total sales. This was the first year that digital sales were bigger than traditional sales. And boy do they need them, for sales of traditional products and services slumped by 21% for the year.
No one better than Kodak can reveal the revolution going on in the shift from analogue to digital. And the world of photography has been decimated in the one off shift. Only a few weeks Konica Minolta announced that they had failed in trying to shift to digital and were exiting the camera and film business.
Kodak is more fortunate that their all-digital strategy is working and they have the money to finance it. Because the shift will cost them billions of dollars (and they're still only half way through it). But, by 2010 Kodak will have an all-digital business. Bye, bye the analogue world.
So, which other sectors will go the way of photography? Next up is the music industry, the broadcasting industry and the video industry. But that's just the tip of the iceberg.
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