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19 May 2020

The Digital Economy – Economic and business transformation through the growth of connectivity and digitisation

Costas

As part of our guest blog series on thematic investing, MSCI and Costas Andriopoulos, Professor of Entrepreneurship and Innovation at Cass Business School, share their views on the Digital Economy. Read on to find out how seven key digital technologies are reshaping the economy across sectors, geographies and markets.

A Digital Economy – Why now?

In July 2008, Steve Jobs told USA Today that the Apple App Store would launch with just 500 apps, 25% of which would be free. Jobs said at the time that “this is the biggest launch of my career”.1 

It turned out (not for the only time) that Steve Jobs was right. The Apple App Store was set to become a digital storefront of software and other media for sale or subscription electronically. It disrupted the traditional software distribution: consumers reacted positively to the breadth of applications, the ease of use, the direct experience of tailoring and enhancing their personal devices. The Apple App Store was an immediate success and so created a substantial new stream of revenues for Apple Inc., on top of its historic hardware and innovative personal device/phone businesses. The store grew from 500 apps in 2008 to 1.847 million apps as of first quarter of 20202. Consumers spent an estimated $54.2 billion dollars on in-app purchases, subscriptions, and premium apps.3 According to data from App Annie, in Q1 2020, consumers worldwide spent $15 billion in the App Store, the largest-ever quarter in terms of consumer spend on apps.4

Economic and business transformation through the growth of connectivity and digitization, powered by the explosion of accessible data and the speed and reach of the (mobile) internet will likely remain profound, cutting across sectors, geographies and markets. Companies have moved their business models to digital platforms using cloud computing and analytics-as-a-service, transactions via digital payments are becoming dominant, and people engage in billions of social media interactions and communications every day. We illustrate this trend with reference to seven key digital technologies.

Read the full Digital Economy insight by MSCI or find out more about MSCI’s thematic indices

Digital economy

MSCI would like to thank Costas Andriopoulos who is a Professor of Innovation and Entrepreneurship at Cass Business School, for useful discussions and insightful analysis of this megatrend, which have greatly facilitated the preparation of this article.

His research focuses on organisational ambidexterity: how companies can excel at both incremental and radical innovation.

Watch Costas’ video on the Digital Economy

The view from Lyxor

Our world is changing. Technological breakthroughs, economic evolution and the climate emergency are reshaping reality for billions of people. Will your portfolio keep up? 

Each of our Thematic ETFs combines human insight, natural language processing and data analysis techniques in a unique way to identify the companies that matter most, and ensure your portfolio stays one step ahead. As a pioneering ETF provider with a history of innovation, we’ve gone the extra mile to build some truly state-of-the art funds for a new state of mind. 

We’re incredibly excited about this range and hope you can join us in preparing portfolios for change.

Find out how you can stay one step ahead with Lyxor’s Thematic ETFs

Relevant ETFs

1 https://usatoday30.usatoday.com/money/industries/technology/2008-07-09-apple-apps-storeiphone-ipod_N.htm

2 Statista, https://www.statista.com/statistics/276623/number-of-apps-available-inleading-app-stores/

3 Statista, https://www.statista.com/statistics/296226/annual-apple-app-store-revenue/

4 https://techcrunch.com/2020/04/02/consumers-spent-record-23-4-billion-on-apps-in-q1-2020-thanks-to-being-stuck-indoors/

MSCI Disclaimer

The information contained herein (the “Information”) may not be reproduced or disseminated in whole or in part without prior written permission from MSCI. The Information may not be used to verify or correct other data, to create indexes, risk models, or analytics, or in connection with issuing, offering, sponsoring, managing or marketing any securities, portfolios, financial products or other investment vehicles. Historical data and analysis should not be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. None of the Information or MSCI index or other product or service constitutes an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy. Further, none of the Information or any MSCI index is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. The Information is provided “as is” and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information. NONE OF MSCI INC. OR ANY OF ITS SUBSIDIARIES OR ITS OR THEIR DIRECT OR INDIRECT SUPPLIERS OR ANY THIRD PARTY INVOLVED IN THE MAKING OR COMPILING OF THE INFORMATION (EACH, AN “MSCI PARTY”) MAKES ANY WARRANTIES OR REPRESENTATIONS AND, TO THE MAXIMUM EXTENT PERMITTED BY LAW, EACH MSCI PARTY HEREBY EXPRESSLY DISCLAIMS ALL IMPLIED WARRANTIES, INCLUDING WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. WITHOUT LIMITING ANY OF THE FOREGOING AND TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO EVENT SHALL ANY OF THE MSCI PARTIES HAVE ANY LIABILITY REGARDING ANY OF THE INFORMATION FOR ANY DIRECT, INDIRECT, SPECIAL, PUNITIVE, CONSEQUENTIAL (INCLUDING LOST PROFITS) OR ANY OTHER DAMAGES EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES. The foregoing shall not exclude or limit any liability that may not by applicable law be excluded or limited.

This article is for informative purposes only, and should not be taken as investment advice. Lyxor ETF does not in any way endorse or promote the companies mentioned in this article. The opinions expressed by Costas Andriopoulos are his own, and do not necessarily reflect the views of Lyxor International Asset Management or Societe Generale. Capital at risk. Please read our Risk Warning below.

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Lyxor International Asset Management (“LIAM”) or its employees may have or maintain business relationships with companies covered in its research reports. As a result, investors should be aware that LIAM and its employees may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. Please see appendix at the end of this report for the analyst(s) certification(s), important disclosures and disclaimers. Alternatively, visit our global research disclosure website www.lyxoretf.com/compliance.

Conflicts of interest

This research contains the views, opinions and recommendations of Lyxor International Asset Management (“LIAM”) Cross Asset and ETF research analysts and/or strategists. To the extent that this research contains trade ideas based on macro views of economic market conditions or relative value, it may differ from the fundamental Cross Asset and ETF Research opinions and recommendations contained in Cross Asset and ETF Research sector or company research reports and from the views and opinions of other departments of LIAM and its affiliates. Lyxor Cross Asset and ETF research analysts and/or strategists routinely consult with LIAM sales and portfolio management personnel regarding market information including, but not limited to, pricing, spread levels and trading activity of ETFs tracking equity, fixed income and commodity indices. Trading desks may trade, or have traded, as principal on the basis of the research analyst(s) views and reports. Lyxor has mandatory research policies and procedures that are reasonably designed to (i) ensure that purported facts in research reports are based on reliable information and (ii) to prevent improper selective or tiered dissemination of research reports. In addition, research analysts receive compensation based, in part, on the quality and accuracy of their analysis, client feedback, competitive factors and LIAM’s total revenues including revenues from management fees and investment advisory fees and distribution fees.

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