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Rabobank.com
Unlikely new player in online media: A major Dutch bank with an agricultural focus. |
New media technology not only brings down barriers between different media groups -- increasingly, it also brings new players into the media business.
Earlier this week the Dutch bank Rabobank raised eyebrows by buying the Dutch "Google for house searches" zoekallehuizen.nl, one of the online nails in the coffin of newspaper classifieds.
Rabobank focuses on agriculture, and it has a a strong AAA-credit rating. It is the fourth-largest bank in the Netherlands.
On Saturday, Rabobank also announced that it will start offering its customers mobile Internet accounts. The bank is not very happy with the service offered by current providers, andthinks it can do a better job.
Dutch traditional media have taken a rather laid-back approach towards adopting new media, not unlike the Dutch audience. However, recent figures show that among Dutch households Internet access has expanded over the past four years (from 25 to 80 percent), heralding a change in their way of communicating.
Rabobank's move is a stern warning to both telecom providers and media companies: if they don't provide decent service soon, other financially strong players might take over their position in this market.
