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News Article | June 15, 2017
Site: news.europawire.eu

LONDON, 15-Jun-2017 — /EuropaWire/ — The current political and economic climate has contributed to some of the highest levels of uncertainty seen for decades, say PwC economists in their latest Global Economy Watch. Indeed, in recent years, uncertainty has been keeping business leaders busy. CEOs have responded in several ways – from insuring against the potential costs of cyber attacks, to stress – testing their operations and finances under alternative economic scenarios. PwC Senior Economist Barret Kupelian says: “Businesses that have invested resources in such areas are likely to be better prepared for a future that remains highly uncertain. According to our CEO Pulse Survey, 30% of business leaders expect at least one crisis to hit their business within the next year.” The impact of uncertainty cuts across all sectors of the economy, affecting households, businesses and financial markets. The key effects are: All of the above have significant cumulative impacts on the economy. The International Monetary Fund estimates that a one standard deviation increase in uncertainty is associated with a 0.4 – 1.3 percentage point decrease in output growth. The first implication for business is that known uncertainties can be planned for and mitigated against. This can be done either by buying insurance or by using other sophisticated methods like financial instruments to insure against these risks. Secondly, businesses can enhance their preparation for unknown uncertainties by simulating hypothetical events and assessing their effects on the balance sheet as well as day-to-day operations. For example, in financial services this is done through scenario planning and stress testing, techniques which are increasingly being used in the non-financial services sector. Finally, policymakers can also influence levels of uncertainty in an economy. An example is the US Federal Reserve which, since the financial crisis, has been lengthening its analysis with the aim of increasing transparency on monetary policy decisions. It’s important that policymakers mitigate market uncertainty by putting in place a coherent, transparent and well-communicated strategy. Barret Kupelian concludes: “Policymakers have an important role to play as they can reduce levels of uncertainty by ensuring any future changes to the regulatory environment are as gradual and predictable as possible, while retaining the flexibility to act quickly if a major crisis does strike.” For more details, please see this month’s Global Economy Watch at www.pwc.com/GEW. About PwC At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 223,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.


VANCOUVER, British Columbia--(BUSINESS WIRE)--Sierra Wireless (NASDAQ:SWIR) (TSX:SW), the leading provider of fully integrated device-to-cloud solutions for the Internet of Things (IoT), today announced that it has entered into a joint business relationship with PwC Canada to help enterprises around the world develop and launch transformative IoT services and new business models. The IoT is creating new service-oriented opportunities, driving organizations to modernize so they can capitalize on growing amounts of IoT data and provide an enhanced customer experience. According to PwC Canada’s 2017 Global Digital IQ® Survey, 73 percent of organizations are making substantial investments in the IoT. The implementation of IoT solutions is very complex; many projects lack a clear definition of use case, face significant delays, go over budget or fail to launch all together. Together, Sierra Wireless and PWC Canada can advise enterprises on IoT transformation best practices and technologies, from articulating the value proposition and building the business case, through to implementation. “Sierra Wireless has helped thousands of companies, large and small, to join the IoT,” said René Link, CMO & SVP Corporate Strategy, Sierra Wireless. “IoT transformation can be a very complex process, and the combined expertise of Sierra Wireless and PwC Canada will ensure the right technology and business insights drive successful IoT implementations.” To contact the Sierra Wireless Sales Desk, call +1 877-687-7795 or visit http://www.sierrawireless.com/sales. Vaibhav Parmar, Partner, PwC, will present a keynote at Sierra Wireless’ fifth annual Innovation Summit, on June 13, 2017, in Paris, France. His presentation will focus on how businesses are transforming thanks to IoT technology. The Summit brings together the most active people in the IoT community sharing how they are using IoT technology to modernize businesses across a variety of sectors, from industrial to energy to retail to transportation. For more information, visit: https://www.sierrawireless.com/innovation-summit/ PwC Canada helps organizations and individuals create the value they’re looking for. More than 6,700 partners and staff in offices across the country are committed to delivering quality in assurance, tax, consulting and deals services. PwC Canada is a member of the PwC network of firms with more than 223,000 people in 157 countries. Find out more by visiting us at www.pwc.com/ca. PwC refers to the Canadian member firm, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see http://www.pwc.com/structure for further details. Sierra Wireless (NASDAQ: SWIR) (TSX: SW) is building the Internet of Things with intelligent wireless solutions that empower organizations to innovate in the connected world. Customers Start with Sierra because we offer the industry’s most comprehensive portfolio of 2G, 3G and 4G embedded modules and gateways, seamlessly integrated with our secure cloud and connectivity services. OEMs and enterprises worldwide trust our innovative solutions to get their connected products and services to market faster. Sierra Wireless has more than 1,100 employees globally and operates R&D centers in North America, Europe and Asia. For more information, visit www.sierrawireless.com. Connect with Sierra Wireless on the IoT Blog at http://www.sierrawireless.com/iot-blog, on Twitter at @SierraWireless, on LinkedIn at http://www.linkedin.com/company/sierra-wireless and on YouTube at http://www.youtube.com/SierraWireless. “Sierra Wireless” is a registered trademark of Sierra Wireless. Other product or service names mentioned herein may be the trademarks of their respective owners. This press release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply conditions, channel and end customer demand conditions, revenues, gross margins, operating expenses, profits, and other expectations, intentions, and plans contained in this press release that are not historical fact. Our expectations regarding future revenues and earnings depend in part upon our ability to successfully develop, manufacture, and supply products that we do not produce today and that meet defined specifications. When used in this press release, the words "plan", "expect", "believe", and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in the wireless data communications market. In light of the many risks and uncertainties surrounding the wireless data communications market, you should understand that we cannot assure you that the forward-looking statements contained in this press release will be realized.


News Article | June 6, 2017
Site: globenewswire.com

LONDON, June 06, 2017 (GLOBE NEWSWIRE) -- Burgeoning entertainment and media industry segments such as virtual reality (VR), e-sports and music streaming illustrate an intensifying focus on users and the vital role of “fans” as a source of competitive advantage. Photos accompanying this announcement are available at: According to PwC’s Global entertainment and media outlook 2017-2021, the consumer VR content market will grow at a compound annual growth rate (CAGR) of 77.0% over a five-year period and be worth US$15.1bn by 2021.1 Meanwhile, total global e-sports revenue will rise to US$874 million in 2021, increasing at a 21.7% CAGR, and music streaming will experience a 20.7% CAGR over the five-year forecast period. “Accelerating change in technology, user behavior and business models has opened up a gap between how consumers want to experience and pay for E&M offerings, and how companies produce and distribute them,” said Deborah Bothun, PwC Global Entertainment and Media Leader. “The right user experience bridges this gap. To deliver it, companies must pursue two related strategies. First, build businesses and brands anchored by active, high-value communities of fans, united by shared passions, values, and interests. And second, capitalize on emerging technologies to delight users in new ways and provide superior user experiences.” Rapid advances in technology drive direct-to-consumer strategies As companies compete to create the most desired user experiences, advances in technology are at the heart of their strategies. Combined with a great user experience, companies can harness technology and data to create a virtuous circle—one in which increasing consumer engagement and attention lead to the capture of more data and more insights into what users want. Increasingly the models used to achieve this monetization are founded on direct-to-consumer (D2C) strategies, enabled by technology and characterized by greater choice and user control. _______________________________ 1All figures in this release are taken from PwC’s Global entertainment and media outlook 2017-2021. “Amid an ever greater supply of media, businesses that are fan-centric will find themselves with audiences that are more engaged, more loyal, and spend more per capita,” said Christopher Vollmer, PwC Global Advisory Leader for Entertainment and Media. “To thrive in the experience-driven marketplace characterized by this year’s Outlook, companies need to attract and harness the economic, social, and emotional power of fans.” E&M growth will lag GDP as advertising comes under pressure PwC projects the entertainment and media will grow at a CAGR of 4.2%, lagging behind the growth of global GDP. Global advertising revenue will also grow at a CAGR of 4.2%—down from 5.1% in last year’s Global entertainment and media outlook. This slowdown reflects pressures on ad-supported business models, driven by consumers’ preference for ad-free experiences and advertisers’ dissatisfaction with the current measurement capabilities available with digital media. While advertisers are still willing to spend, growth in ad spend is now overwhelmingly driven by Internet advertising. Mobile advertising is growing apace—but still needs better measurement practices The growth of Internet advertising is being powered by mobile advertising, which grew by 58.7% in the past year, and will continue to expand at an 18.5% CAGR through 2021. But despite this growth, wired Internet advertising still accounted for 61.6% of total Internet advertising in 2016. Also, the robust growth of Internet advertising actually masks an embedded form of inertia. Without accepted measurement practices to provide transparency on the efficacy and efficiency of the major platforms, premium brands are reluctant to take on perceived risks in concentrating more of their advertising in digital mediums, resulting in larger agencies and their clients holding back their ad dollars. Major digital tipping-points are occurring or in prospect across all segments… “In many of the largest markets, and hence in the industry as a whole, entertainment and media businesses are approaching or have reached a form of saturation,” said Bothun. “This effectively puts us on an industry plateau—one where some traditional, mature segments are in slow growth or decline, the Internet and digital E&M content are growing but at a slowing rate, and the next wave of content and entertainment is in areas such as e-sports and virtual reality that are just beginning to ramp up.” There are immense opportunities for navigating and thriving within the challenges of a mature market, technological change and regulatory uncertainty. Not all markets or segments are slowing or in decline. Moreover, not all growth opportunities are captured in E&M revenue spend categories. The data, analysis and perspectives in our Global entertainment and media outlook provide compelling insights into how companies are adapting, investing, experimenting, and innovating to succeed in this new world. Press access to Global entertainment and media outlook content online To request press access to the online Global entertainment and media outlook 2017-2021​, contact Nicholas Braude at nicholas.braude@pwc.com​. This will allow you to illustrate this and other media stories both by extracting detail from the Global entertainment and media outlook dataset and analysis at a segment and country level, and by creating charts on-screen that can be exported for use with your stories. About the Global entertainment and media outlook PwC’s 18th annual edition of the Global entertainment and media outlook 2017-2021, is a comprehensive online source of global analysis for consumer and advertising spend. With like-for-like, five-year historical and five-year forecast data and commentary across 17 industry segments in 54 countries, the Outlook makes it easy to compare and contrast consumer and advertising spend across segments and countries. Find out more at www.pwc.com/outlook​​. Segments covered by the Global entertainment and media outlook Books, Business-to-business, Cinema, Data consumption, E-sports, Internet access, Internet advertising, Internet video, Magazines, Music, Newspaper, Out-of-home advertising, Radio, Traditional TV and home video, TV advertising, Video game, Virtual reality. About Global entertainment and media outlook data Much of the content in this press release is taken from data in the Global entertainment and media outlook 2017-2021. PwC continually seeks to update the online Global entertainment and media outlook data. Therefore, please note that the data in this press release may not be aligned with the data found online. The online Global entertainment and media outlook 2017-2021 is the most up-to-date source of consumer and advertising spend data. About PwC At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 223,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.


"E&M companies are operating amidst a wave of geopolitical turbulence, regulatory changes and technological disruption. Even if the macro context is set aside, these companies are facing significant pressures on growth," said Mark McCaffrey, PwC's U.S. Technology, Media, and Telecommunications Leader. "In order to thrive in the marketplace, PwC suggests that these companies understand and develop sustainable relationships with consumers to advance their UX. Pursuing a growth and investment strategy to enhance and differentiate the UX will help them flourish in an era where a changing value chain is slowing top-line growth from the traditional revenue streams that have nourished the E&M industry to date. Essentially, we've entered The Age of the Consumer. It's no longer sufficient to be 'consumer-centric,' one must be 'consumer-obsessed.'" PwC has identified eight emerging technologies as having the biggest potential to improve UX: augmented reality (AR)/virtual reality (VR); artificial intelligence (AI); Internet of Things (IoT); Big Data/data analytics; cloud; 3D printing; access, not ownership; and cybersecurity. "The next era of differentiation in E&M is being defined and propelled by consumers' increased demand for live, immersive, sharable experiences. Consumers want to get closer, more engaged and better connected with the stories they love – both in the physical and digital worlds," said Deborah Bothun, PwC's Global Entertainment & Media Leader. "At the same time, companies can start to empower those experiences through a number of emerging technologies. Perhaps big data and artificial intelligence will create the most dramatic change, redefining how the industry can connect with all stakeholders and drive growth. We're already seeing a number of ways that AI is being used to personalize, customize and curate entertainment content and experiences at scale." Key U.S. Entertainment & Media Highlights – A total of 68M Virtual Reality (NEW) headsets will be in use in the U.S. by 2021 with the installed base growing at a CAGR of 69.2 percent over the forecast period. In fact, the segment is projected to add nearly the same revenue as TV advertising between 2016 to 2021, a total of $4.6B. VR truly started to reach consumers in 2016 and has no legacy issues or false starts to look back on. The downside is a highly immature market with underdeveloped business models, flaky hardware, and lots of experimental or low-quality content. 2017 should at least see major advances in "inside out" movement tracking and lower cost headsets. It's worth noting VR's close relationship with the gaming market, yet many news and content organizations are pinning their hopes on VR to reinvigorate programming and recapture audiences lost to the internet. Video Gaming continues to be a paradox: at once a large, growing business and yet a market where firms can fail in record time and new business models arise seemingly from nothing. It is this dynamism that both fascinates and concerns financial markets and partners in media, telco and IT spaces. Video games revenue was $21.0B in 2016 and is forecast to grow by a 6.3 percent CAGR to reach $28.5B in 2021. The development of E-sports (NEW) has contributed to the video gaming boom. The nascent genre's revenue is forecast to reach $299M in 2021, from $108M in 2016, rising at a 22.6 percent CAGR. The U.S. is the largest market in revenue terms, having overtaken South Korea in 2015, although the latter will stay far ahead in terms of per-capita revenue. Not only does the ongoing popularization of competitive gaming by broadcasters bring new consumers into the gaming fold, but the games themselves help to boost online/microtransaction revenues on both consoles and PCs. Data Consumption (NEW) is forecast to reach 290.7T MB by 2021, up from 117.9T MB in 2016 and representing a 19.8 percent CAGR. The U.S. will remain the largest market in the world in terms of data traffic in 2021, ahead of China despite the latter's faster growth. The single biggest driver of growth is the increased adoption of smartphones, and in particular the rise of video streaming on smartphones. Video represents 83.4 percent of all data traffic in 2016, ahead of other digital content (7.8%), and music (3.1%). By 2021, video will account for more than 247T MB of data in the U.S., some 85 percent of total traffic. The U.S. Internet Video (NEW) market is by far the largest and most established in the world, accounting for 47 percent of global revenue in 2016. This percentage is expected to fall to 43 percent by 2021 as internet video becomes more established in others regions, although international growth will be driven by U.S. companies' expansion overseas. Internet video will grow at a 9.6 percent CAGR – the fourth largest U.S. E&M segment CAGR, following Virtual Reality, E-sports and Internet Advertising, respectively – to produce revenues of $18.8B in 2021. Nearly 75 percent of revenue at this time will be attributable to subscription video-on-demand (VOD) services, with transactional VOD platforms accounting for the remainder. Internet Advertising revenue in the U.S. reached $72.5B in 2016, comfortably the largest market in the world. This figure is forecast to reach $116.2B in 2021, rising at a CAGR of 9.9 percent. While it was previously predicted that internet advertising would overtake TV advertising in 2017, the former actually surpassed the latter by the close of 2016. New tech innovations, especially around AI, will create both challenges and opportunities for incumbent players. The introduction of new screens, such as those in connected cars; the rollout of new content formats, like VR; and changes in the way we interact with technology, such as voice-activated search, create opportunities for new ways of engaging with and advertising to audiences. However, all require innovation and investment in order to meet their potential. Separately, the dominant force that is mobile advertising comprised 50.5 percent of total internet advertising revenue in 2016, rising from 34.7 percent the previous year and besting the contribution from wired internet advertising in the process. By 2021, PwC expects mobile to account for 74.4 percent of all U.S. internet advertising. Cinema revenue will grow over the forecast period by a 1.3 percent CAGR. Specifically, box office revenue will rise from $10.6B in 2016 – the biggest box office year in all of American history – to $11.2B in 2021, a CAGR of 1.2 percent. PwC had expected China to overtake the U.S. in box office revenue in 2017, which would have marked this as the first time the U.S. has not held the leading position in an E&M segment. However, the second half of 2016 and the first half of 2017 were much softer at the Chinese box office than had been expected. That said, Chinese cinema revenue is still the most lucrative and the fastest-growing in the world. The big studio blockbusters remain the driving force, but the perennial debate about the three-month exclusive "window" for films in cinemas is intensifying – especially faced with intensifying competition from disruptors. The Music industry has continued to turn the corner on nearly two decades of decline. The market was worth $17.2B in 2016. Total music revenue is forecast to increase at a 5.6 percent CAGR to reach $22.6B in 2021. The ongoing growth of digital music streaming – up an astonishing 99.1 percent year-over-year in 2016 to total $3B – was THE music story of last year as consumers turned in huge numbers to on-demand services. Competition for new subscribers will likely be fierce in 2017. In addition to the uptick in streaming, the live music sector continues to deliver, with fans appearing to have a nearly insatiable appetite for music events and festival brands eager to franchise overseas. About the Outlook PwC's Global Entertainment and Media Outlook 2017-2021, the 18th annual edition, contains in-depth analysis and historical and forecast data for advertising and consumer/end-user spending in 17 major industry segments across 54 countries. Find out more at www.pwc.com/us/outlook. Segments covered by the Outlook Books, Business-to-business, Cinema, Data Consumption, E-sports, Internet Access, Internet Advertising, Internet Video, Magazines, Music, Newspaper, Out-of-home Advertising, Radio, Traditional TV and Home Video, TV Advertising, Video Games, and Virtual Reality. Methodology Historical information is obtained principally from confidential and proprietary sources. PwC analyzes recent trends in industry performance and identifies factors underlying those trends. Models are then developed to quantify the impact of each factor on industry spending. Forecasts are also based on an analysis of the dynamics of each segment in each region and on the factors that affect those dynamics. About PwC US At PwC US, our purpose is to build trust in society and solve important problems. We're a network of firms in 157 countries with more than 223,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com/US. © 2017 PwC. All rights reserved. PwC refers to the US member firm or one of its subsidiaries or affiliates, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details. Learn more about PwC's Technology, Media, and Telecom practice by visiting: @PwC_TMT, LinkedIn, Facebook, Instagram, Snapchat, YouTube and Google+. Follow the conversation online by using #PwCOutlook. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/pwcs-entertainment--media-outlook-forecasts-us-industry-spending-to-reach-759-billion-by-2021-300469724.html


News Article | June 6, 2017
Site: globenewswire.com

LONDON, June 06, 2017 (GLOBE NEWSWIRE) -- Burgeoning entertainment and media industry segments such as virtual reality (VR), e-sports and music streaming illustrate an intensifying focus on users and the vital role of “fans” as a source of competitive advantage. Photos accompanying this announcement are available at: According to PwC’s Global entertainment and media outlook 2017-2021, the consumer VR content market will grow at a compound annual growth rate (CAGR) of 77.0% over a five-year period and be worth US$15.1bn by 2021.1 Meanwhile, total global e-sports revenue will rise to US$874 million in 2021, increasing at a 21.7% CAGR, and music streaming will experience a 20.7% CAGR over the five-year forecast period. “Accelerating change in technology, user behavior and business models has opened up a gap between how consumers want to experience and pay for E&M offerings, and how companies produce and distribute them,” said Deborah Bothun, PwC Global Entertainment and Media Leader. “The right user experience bridges this gap. To deliver it, companies must pursue two related strategies. First, build businesses and brands anchored by active, high-value communities of fans, united by shared passions, values, and interests. And second, capitalize on emerging technologies to delight users in new ways and provide superior user experiences.” Rapid advances in technology drive direct-to-consumer strategies As companies compete to create the most desired user experiences, advances in technology are at the heart of their strategies. Combined with a great user experience, companies can harness technology and data to create a virtuous circle—one in which increasing consumer engagement and attention lead to the capture of more data and more insights into what users want. Increasingly the models used to achieve this monetization are founded on direct-to-consumer (D2C) strategies, enabled by technology and characterized by greater choice and user control. _______________________________ 1All figures in this release are taken from PwC’s Global entertainment and media outlook 2017-2021. “Amid an ever greater supply of media, businesses that are fan-centric will find themselves with audiences that are more engaged, more loyal, and spend more per capita,” said Christopher Vollmer, PwC Global Advisory Leader for Entertainment and Media. “To thrive in the experience-driven marketplace characterized by this year’s Outlook, companies need to attract and harness the economic, social, and emotional power of fans.” E&M growth will lag GDP as advertising comes under pressure PwC projects the entertainment and media will grow at a CAGR of 4.2%, lagging behind the growth of global GDP. Global advertising revenue will also grow at a CAGR of 4.2%—down from 5.1% in last year’s Global entertainment and media outlook. This slowdown reflects pressures on ad-supported business models, driven by consumers’ preference for ad-free experiences and advertisers’ dissatisfaction with the current measurement capabilities available with digital media. While advertisers are still willing to spend, growth in ad spend is now overwhelmingly driven by Internet advertising. Mobile advertising is growing apace—but still needs better measurement practices The growth of Internet advertising is being powered by mobile advertising, which grew by 58.7% in the past year, and will continue to expand at an 18.5% CAGR through 2021. But despite this growth, wired Internet advertising still accounted for 61.6% of total Internet advertising in 2016. Also, the robust growth of Internet advertising actually masks an embedded form of inertia. Without accepted measurement practices to provide transparency on the efficacy and efficiency of the major platforms, premium brands are reluctant to take on perceived risks in concentrating more of their advertising in digital mediums, resulting in larger agencies and their clients holding back their ad dollars. Major digital tipping-points are occurring or in prospect across all segments… “In many of the largest markets, and hence in the industry as a whole, entertainment and media businesses are approaching or have reached a form of saturation,” said Bothun. “This effectively puts us on an industry plateau—one where some traditional, mature segments are in slow growth or decline, the Internet and digital E&M content are growing but at a slowing rate, and the next wave of content and entertainment is in areas such as e-sports and virtual reality that are just beginning to ramp up.” There are immense opportunities for navigating and thriving within the challenges of a mature market, technological change and regulatory uncertainty. Not all markets or segments are slowing or in decline. Moreover, not all growth opportunities are captured in E&M revenue spend categories. The data, analysis and perspectives in our Global entertainment and media outlook provide compelling insights into how companies are adapting, investing, experimenting, and innovating to succeed in this new world. Press access to Global entertainment and media outlook content online To request press access to the online Global entertainment and media outlook 2017-2021​, contact Nicholas Braude at nicholas.braude@pwc.com​. This will allow you to illustrate this and other media stories both by extracting detail from the Global entertainment and media outlook dataset and analysis at a segment and country level, and by creating charts on-screen that can be exported for use with your stories. About the Global entertainment and media outlook PwC’s 18th annual edition of the Global entertainment and media outlook 2017-2021, is a comprehensive online source of global analysis for consumer and advertising spend. With like-for-like, five-year historical and five-year forecast data and commentary across 17 industry segments in 54 countries, the Outlook makes it easy to compare and contrast consumer and advertising spend across segments and countries. Find out more at www.pwc.com/outlook​​. Segments covered by the Global entertainment and media outlook Books, Business-to-business, Cinema, Data consumption, E-sports, Internet access, Internet advertising, Internet video, Magazines, Music, Newspaper, Out-of-home advertising, Radio, Traditional TV and home video, TV advertising, Video game, Virtual reality. About Global entertainment and media outlook data Much of the content in this press release is taken from data in the Global entertainment and media outlook 2017-2021. PwC continually seeks to update the online Global entertainment and media outlook data. Therefore, please note that the data in this press release may not be aligned with the data found online. The online Global entertainment and media outlook 2017-2021 is the most up-to-date source of consumer and advertising spend data. About PwC At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 223,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.


News Article | June 6, 2017
Site: globenewswire.com

LONDON, June 06, 2017 (GLOBE NEWSWIRE) -- Burgeoning entertainment and media industry segments such as virtual reality (VR), e-sports and music streaming illustrate an intensifying focus on users and the vital role of “fans” as a source of competitive advantage. Photos accompanying this announcement are available at: According to PwC’s Global entertainment and media outlook 2017-2021, the consumer VR content market will grow at a compound annual growth rate (CAGR) of 77.0% over a five-year period and be worth US$15.1bn by 2021.1 Meanwhile, total global e-sports revenue will rise to US$874 million in 2021, increasing at a 21.7% CAGR, and music streaming will experience a 20.7% CAGR over the five-year forecast period. “Accelerating change in technology, user behavior and business models has opened up a gap between how consumers want to experience and pay for E&M offerings, and how companies produce and distribute them,” said Deborah Bothun, PwC Global Entertainment and Media Leader. “The right user experience bridges this gap. To deliver it, companies must pursue two related strategies. First, build businesses and brands anchored by active, high-value communities of fans, united by shared passions, values, and interests. And second, capitalize on emerging technologies to delight users in new ways and provide superior user experiences.” Rapid advances in technology drive direct-to-consumer strategies As companies compete to create the most desired user experiences, advances in technology are at the heart of their strategies. Combined with a great user experience, companies can harness technology and data to create a virtuous circle—one in which increasing consumer engagement and attention lead to the capture of more data and more insights into what users want. Increasingly the models used to achieve this monetization are founded on direct-to-consumer (D2C) strategies, enabled by technology and characterized by greater choice and user control. _______________________________ 1All figures in this release are taken from PwC’s Global entertainment and media outlook 2017-2021. “Amid an ever greater supply of media, businesses that are fan-centric will find themselves with audiences that are more engaged, more loyal, and spend more per capita,” said Christopher Vollmer, PwC Global Advisory Leader for Entertainment and Media. “To thrive in the experience-driven marketplace characterized by this year’s Outlook, companies need to attract and harness the economic, social, and emotional power of fans.” E&M growth will lag GDP as advertising comes under pressure PwC projects the entertainment and media will grow at a CAGR of 4.2%, lagging behind the growth of global GDP. Global advertising revenue will also grow at a CAGR of 4.2%—down from 5.1% in last year’s Global entertainment and media outlook. This slowdown reflects pressures on ad-supported business models, driven by consumers’ preference for ad-free experiences and advertisers’ dissatisfaction with the current measurement capabilities available with digital media. While advertisers are still willing to spend, growth in ad spend is now overwhelmingly driven by Internet advertising. Mobile advertising is growing apace—but still needs better measurement practices The growth of Internet advertising is being powered by mobile advertising, which grew by 58.7% in the past year, and will continue to expand at an 18.5% CAGR through 2021. But despite this growth, wired Internet advertising still accounted for 61.6% of total Internet advertising in 2016. Also, the robust growth of Internet advertising actually masks an embedded form of inertia. Without accepted measurement practices to provide transparency on the efficacy and efficiency of the major platforms, premium brands are reluctant to take on perceived risks in concentrating more of their advertising in digital mediums, resulting in larger agencies and their clients holding back their ad dollars. Major digital tipping-points are occurring or in prospect across all segments… “In many of the largest markets, and hence in the industry as a whole, entertainment and media businesses are approaching or have reached a form of saturation,” said Bothun. “This effectively puts us on an industry plateau—one where some traditional, mature segments are in slow growth or decline, the Internet and digital E&M content are growing but at a slowing rate, and the next wave of content and entertainment is in areas such as e-sports and virtual reality that are just beginning to ramp up.” There are immense opportunities for navigating and thriving within the challenges of a mature market, technological change and regulatory uncertainty. Not all markets or segments are slowing or in decline. Moreover, not all growth opportunities are captured in E&M revenue spend categories. The data, analysis and perspectives in our Global entertainment and media outlook provide compelling insights into how companies are adapting, investing, experimenting, and innovating to succeed in this new world. Press access to Global entertainment and media outlook content online To request press access to the online Global entertainment and media outlook 2017-2021​, contact Nicholas Braude at nicholas.braude@pwc.com​. This will allow you to illustrate this and other media stories both by extracting detail from the Global entertainment and media outlook dataset and analysis at a segment and country level, and by creating charts on-screen that can be exported for use with your stories. About the Global entertainment and media outlook PwC’s 18th annual edition of the Global entertainment and media outlook 2017-2021, is a comprehensive online source of global analysis for consumer and advertising spend. With like-for-like, five-year historical and five-year forecast data and commentary across 17 industry segments in 54 countries, the Outlook makes it easy to compare and contrast consumer and advertising spend across segments and countries. Find out more at www.pwc.com/outlook​​. Segments covered by the Global entertainment and media outlook Books, Business-to-business, Cinema, Data consumption, E-sports, Internet access, Internet advertising, Internet video, Magazines, Music, Newspaper, Out-of-home advertising, Radio, Traditional TV and home video, TV advertising, Video game, Virtual reality. About Global entertainment and media outlook data Much of the content in this press release is taken from data in the Global entertainment and media outlook 2017-2021. PwC continually seeks to update the online Global entertainment and media outlook data. Therefore, please note that the data in this press release may not be aligned with the data found online. The online Global entertainment and media outlook 2017-2021 is the most up-to-date source of consumer and advertising spend data. About PwC At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 223,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.


News Article | May 31, 2017
Site: www.businesswire.com

NEW YORK--(BUSINESS WIRE)--PwC today announced the acquisition of certain assets from The Locator Services Group (TLSG), an industry leader in corporate asset recovery for Fortune 500 companies. Effective May 19, 2017, corporate asset recovery is a new service offering of the PwC Abandoned and Unclaimed Property (AUP) practice, expanding the firm’s corporate unclaimed property proficiencies and solutions. As a result of the transaction, PwC has acquired TLSG’s proprietary technology which automates the unclaimed property search process, increasing and expediting the identification and recovery of unclaimed assets for companies. With more than $100 billion in unclaimed property available, automation plays a critical role in corporate asset recovery due to the thousands of sources of unclaimed property available to claim and the thousands of search terms associated with large corporations. “ Corporate asset recovery is a great potential profit center for businesses, but the process can be time consuming, nuanced and costly,” said Janet Gagliano, National Leader of PwC’s AUP practice. “ TLSG has specialized in corporate asset recovery for more than 22 years and along the way has built a reputation for quality and client service. With this acquisition we are reinforcing PwC’s commitment to providing a full range of unclaimed property solutions, including a new AUP service that could generate revenue for our clients, as well as the technologies that help businesses generate value for the organization.” " I am very excited for the new opportunities that this transaction will bring to our clients,” said Kim Sawyer, TLSG’s former President and General Counsel, who will be joining PwC’s AUP practice as a consultant. “ For PwC’s clients, this is an opportunity to turn unclaimed property compliance, which is typically viewed as a cost center, into a potential revenue center. With the additional resources that PwC brings to TLSG’s corporate asset recovery services, clients can expect to have more resources available to address their AUP needs, resulting in synergies that may lead to increased revenues.” At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 223,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.


In Q2 2017, investors deployed $18.4 billion to US VC-backed companies across 1,152 deals, jumping 27% in dollars from Q1 2017 but dipping 4% in deal terms. Funding activity was driven by a strong surge in mega-rounds of $100 million or more, with Q2 2017's tally of 31 representing the highest total since the peak of 36 in Q3 2015. Meanwhile, deal activity remains in a lower range from the nearly 1,500 deals completed in Q3 2015. "Q2 was a tale of two trends. US deal activity continued its multi-quarter downward trend, but the growth rate of investments in dollar terms accelerated from the first quarter. A surge in Mega-round deals, to the second highest level seen to date, helped drive a robust level of quarterly VC funding," said Tom Ciccolella, US Venture Capital Leader at PwC. Regional deal activity was down from Q1 2017 across most major hubs, with the notable exception of LA/Orange County, which saw both deals and dollars rise for the second consecutive quarter. Although deal activity was down across both New York Metro and Silicon Valley (South Bay Area), both regions saw 8-quarter quarterly funding highs amid prominent mega-round financings. Globally, deals were up 2% from Q1 2017 to a total of 2,439, but funding spiked 53% to an 8-quarter high of $42.9 billion, surpassing the $40.6 billion seen in Q3 2015. Even moreso than the US, Asia's saw total funding was buoyed by several massive financings, with its five largest deals accounting for over $10 billion dollars in aggregate. Europe also saw quarterly funding hit an 8-quarter high of $4.4 billion. "The buzz around existing and new unicorns was back with mega-rounds jumping significantly.  As a result of these financings, the quarterly funding tally looked quite strong," stated Anand Sanwal, co-founder and CEO of CB Insights. "But Q2 also illustrated that deal activity has settled into a new, lower normal after declining through most of 2016 driven by weaker early stage activity. While we have seen a handful of larger acquisitions and IPOs in 2017, the exit environment's health will be a key driver of whether deal activity resumes." CB Insights research can be found online here. About PwC US At PwC US, our purpose is to build trust in society and solve important problems. We're a network of firms in 157 countries with more than 208,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com/US. ©2017 PwC. All rights reserved. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details. This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors. About CB Insights The CB Insights platform collects and analyzes unstructured data that's beyond human cognition. Fortune 1000 companies rely on CB Insights to identify emerging trends and threats early to predict what's next for their businesses-- their next investment, the next market they should attack, the next move of their competitor, or the next company they should acquire. CB Insights is a leader in Expert Automation & Augmentation Software (EAAS) and is backed by the National Science Foundation.


A document processing system for accurately and efficiently analyzing documents and methods for making and using same. Each incoming document includes at least one section of textual content and is provided in an electronic form or as a paper-based document that is converted into an electronic form. Since many categories of documents, such as legal and accounting documents, often include one or more common text sections with similar textual content, the document processing system compares the documents to identify and classify the common text sections. The document comparison can be further enhanced by dividing the document into document segments and comparing the document segments; whereas, the conversion of paper-based documents likewise can be improved by comparing the resultant electronic document with a library of standard phrases, sentences, and paragraphs. The document processing system thereby enables an image of the document to be manipulated, as desired, to facilitate its review.


Patent
PwC | Date: 2016-01-16

A health data system that is part of a scalable technology core that can be integrated into local healthcare infrastructure to create a care management framework for delivering patient-centric and value-based care in a community, setting the stage for scalability to targeted communities.

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