Market Overview

Texting Turns 25: A Look At Its Transformative Role In US Commerce

Texting Turns 25: A Look At Its Transformative Role In US Commerce

The text message turned 25 Sunday, and in its quarter century of life, the medium has proven a critical and influential force, particularly on Wall Street.

Since Vodafone Group Plc (ADR) (NASDAQ: VOD) carried that first text — a GIF-less, emoji-less “Merry Christmas” from the PC of one British engineer to the phone of a Vodafone colleague — the 160-character platform has upended industries and bolstered bottom lines.

Telecom Transformation

Of course, it forced a shift in products and services, opening new revenue streams for Apple Inc. (NASDAQ: AAPL), Nokia Oyj (ADR) (NYSE: NOK), BlackBerry Ltd (NYSE: BB), AT&T Inc. (NYSE: T), T-Mobile US Inc (NASDAQ: TMUS) and Sprint Corp (NYSE: S).

It also paved the way for Verizon Communications Inc. (NYSE: VZ)’s seizure of market control after its 2000 conception. Verizon is just one of many firms born in (and in many cases of) the age of texting.

There’s Facebook Inc (NASDAQ: FB)’s WhatsApp and Messenger, Snap Inc (NYSE: SNAP)’s Snapchat, Pulse, Chomp, Tango, Viber and dozens of other mononymous apps. Facebook largely controls the space, with each of its platforms boasting 1.3 billion monthly users and management targeting nascent competitors for buyout deals.

A Business Renaissance

Since 1992, the communications sector has exploded, but texting has also changed the business of other industries.

It set the stage for Domino’s Pizza, Inc. (NYSE: DPZ)’s emoji-based easy order, for Macy’s Inc (NYSE: M) text promos, for American Airlines Group Inc (NASDAQ: AAL)’s flight alerts, for Wells Fargo & Co (NYSE: WFC)’s text banking, for Alphabet Inc (NASDAQ: GOOGL)’s two-step verification and enhanced account security.

From AMBER alerts to bitcoin scams, the simple SMS is more than a digital post-it — it’s the core of a culture.

Related Links:

Millennials Say They Prefer Snap, Instagram; Not Yet Impressed By VR, AR 

Redtail Technology Launches Text Messaging Platform For Financial Advisors 

Posted-In: Facebook Messenger SnapChat WhatsAppTech Media Best of Benzinga


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