I had the pleasure of recording a presentation for APIdays Helsinki 2020, June edition, with professor Marko Seppänen from Tampere University, who is one of the co-authors of API Economy 101. In his recent study with Saeid Heshmatisafa, he studies the top 100 Finnish companies an 126 other Finnish organizations. Surprisingly, they found that already 34% of companies had an Open API, meaning a public or a partner API matching the definition we used in the API Economy 101 book. In the presentation, Marko Seppänen goes through the research findings, mostly concentrating on the revenue models and other possibilities to monetize with the API.
The research was presented at apidays Helsinki 2020, June edition, and the presentation can be watched below.
First, professor Seppänen introduces the sample companies by using the categorization we created in the API Economy 101 book, but re-purposing it to include the revenue model options.
He reminds us that it's not only the direct, but also the indirect ways of making money with your API that matter and that you don't need to select only 1 API, but instead you can have a portfolio of them. Professor Seppänen says the research team was highly surprised by the results when it comes to the industry and revenue models. You really need to think creatively about how APIs change your business models -it may even be the final business model - like we point out in the API Economy 101 book.
Are you interested to learn more about API Economy and business models? Take the free "Introduction to API Economy" course in Osaango Academy. Learn for your own pleasure or earn 1 ECTS from this Tampere University' and Osaango's free Master's level course created by Marjukka Niinioja and Marko Seppänen.