History of the Premium Rate Industry

With the advent of privatisation it was generally accepted that the British telecommunications industry would offer new and exciting ways for enterprising businessmen to profit. Of all the new concepts introduced, Premium Rate Services have proved to be the most rewarding.

GROWTH IN DEMAND

In the U.S.A., where they have had a few years head start, the growth in demand for these services has been quite phenomenal. From a zero start in 1983, the Wall Street Journal states that income for the current year will exceed $4 BILLION - OVER 10 MILLION DOLLARS / DAY!

In the U.K. the demand for these services has been no less spectacular. An estimated 615 million calls, roughly 1,2020,000,000 million call minutes, were made to premium rate services in 2001, generating a revenue of over £300 million pounds.

Over 2,000 companies, ranging from large media owned organisations to small specialist operations, provide a wide range of entertainment and information services, which can be accessed by phone, fax, PC, mobile or interactive TV.

THE FRIENDLY TELEPHONE

Today almost every U.K. home has a telephone and most have a mobile. The phone is the one piece of modern communications technology which everyone is happy to use. And we can all benefit from access to information and entertainment that helps to make our lives more convenient, productive and enjoyable.

Instant information is what everyone demands today. The telephone provides the fastest and most convenient means for us to obtain it.

As a method of providing information and entertainment to the public, the telephone has proved far more popular than the Teletext, or home based computers. This is reflected in the use by major companies, the media, and even the government, of the telephone as a means of providing a vast array of information and marketing services to both businesses and the general public.

EASY ACCESS ON THE PHONE

Do these new telephone services make our lives more convenient? Certainly they do! Everyone takes the easy option. For years people have insisted on ringing "directory enquires" - even though the same information can be found in the telephone directory. Today the telephone companies charge for directory services, and customers are quite happy to pay.

The public is happy to pay for telephone services which gives them the information they need easily and instantly. AND NOTHING IS EASIER THAN THE PHONE.

VALUABLE INFORMATION

New services are being launched every day to feed an information hungry society. Selling information over the phone is an explosive industry. Many entrepreneurs and established companies are discovering how to market and sell information they once gave away free. 

Many businesses have realised that they are sitting on a valuable asset - INFORMATION. And by packaging their information into simple telephone services, they can make a substantial extra income, by offering their information to the public over the phone.

Just a few examples of information which was previously offered free and is now being charged for over the phone:

• Stock market analysts who collect data have valuable information to sell to investors. They offer up to the minute shares tips on recorded services and live consultations over the phone. Information on everything from interest rates, to exchange rates, market prices, bond ratings are available over the phone for the price of the call.
• Estate agents have discovered that the public will gladly pay for information over the phone or fax that they could pick up free from any local estate agency.
• Restaurant, cinema, theatre, radio and television critics can now sell their views and recommendations over the telephone.
• Weather forecasters, lawyers, doctors, travel agents, sports enthusiasts, are all currently selling information or advice to the public over the phone!
• Newspapers charge for local weather forecasts, horoscopes and horse racing tips.
• Business Consultants and Personal Trainers offer advice over the phone, and are paid for every minute whilst on line.
• Commercial Credit Agencies now provide credit references to businesses over the phone or fax for which they charge. Callers prefer this type of service because they get the information they need quickly and conveniently. The fee is automatically charged to the caller's telephone bill.
• Tax Experts provide valuable telephone services to people who need answers right away.