Net proves popular in Turkey but profits are elusive
Turks are responding enthusiastically to the high-pressure promotion of internet access. So far, though, there’s not much money to be made from the business. Access providers will soon have to reconsider their cultural aversion to business consolidation, or else think smaller.
Following aggressive promotion and advertising, take-up of internet subscriptions in Turkey is booming. According to a recent report from Istanbul-based research company IBS, last year internet subscriptions grew by 609%, creating a penetration rate of 5.5%. That's still modest compared with western Europe's average 21%, so there's room for even further growth. This, however, seems to be the extent of the good news. The internet game in Turkey up to now has been almost exclusively one of capturing market share.