Eastman Kodak Co. expects 45% of its projected $24 billion in revenue by 2005 will come from digital products and services, CEO Daniel Carp told an investors meeting on Tuesday. Kodak said it will rely on continued growth in its traditional film-based and commercial businesses, including development of its advanced-photo-system and one-time-use cameras, to increase investment in digital imaging. The bigger commitment to digital will also be bolstered by Kodak's "everyday pictures'' marketing concept to fuel whole-category growth, the company said. Kodak is positioning itself to assume a leadership position in the digital realm by leveraging its brand, existing consumer base and photo processing services. Its online photo capabilities were strengthened by its $90 million acquisition in May of the outstanding shares of its PictureVision unit, which provides the network infrastructure to send and store images through Kodak PhotoNet online and Kodak's "You've Got Pictures'' partnership with America Online (AA Daily, May 15).
Copyright June 2000, Crain Communications Inc.