GlobeNewswire

Consumer demand for personalisation and tech advances drives innovation in entertainment and media industry

Del

LONDON, June 04, 2019 (GLOBE NEWSWIRE) -- Now it’s getting personal. According to PwC’s Global Entertainment & Media Outlook 2019–2023 , consumers are embracing the expanding opportunities to enjoy media experiences tailored to their needs, and companies are designing offerings and business models to revolve around those personal preferences. In a fundamental shift, they’re leveraging data and usage patterns to pitch their products not at audiences of billions, but at billions of individuals.

The result is an emerging world of media that’s more personal than ever before: one in which empowered consumers control their own media consumption via an expanding range of smart devices, curate their personal selection of channels via over-the-top (OTT) services and bring more media content into their lives by embracing the smart home and connected car. It’s also an increasingly mobile world, soon to be augmented by 5G networks. As personal connections proliferate, however, consumers continue to be concerned about the safety and privacy of the data. With trust at a premium, pressure is intensifying on companies to adapt to new privacy regimes.

Global industry growth continues to outpace GDP…

These profound shifts are taking place against a background of ongoing global growth in entertainment & media (E&M) revenues. The Outlook — which provides revenue data and forecasts for 14 industry segments across 53 territories — projects that total global spending on E&M will rise at a compound annual growth rate (CAGR) of 4.3% over the next five years, to 2023. This growth rate will see the industry’s global revenue reach US$2.6tn in 2023, up from US$2.1tn in 2018. Over the forecast period, six segments will exhibit growth above the average, and seven below it. (The 14th segment, data consumption, does not generate revenue.)

…but with sharp differences in growth rates at the segment level

Looking at specific E&M segments, virtual reality (VR) maintains its position as the highest-growth segment, but — after a year in which consumers’ take-up continued to lag behind expectations — its lead over the OTT video segment is greatly diminished. Podcasts and esports, which sit within larger segments, have extremely strong growth revenue forecasts at CAGRs of 28.5% and 18.3%, respectively.

At the lower end of the growth spectrum, the traditional TV and home video segment now has negative growth expectations for the first time, as cord-cutting by consumers continues to rise and sales of DVDs keep plummeting. The print-exposed newspapers and consumer magazines segment has the worst forecast through to 2023, with revenues projected to suffer a compound annual decline of 2.3%.

Innovating for growth in a world of me media

The underlying shift that’s reshaping and reorienting the entire industry is changing human behaviour, with a decisive turn towards personalisation. At one level, the new world of E&M appears more isolated, with growing numbers of people engrossed in their own choice of content. But there’s also a dimension of personalisation that’s inherently social, as people share playlists on music-streaming services, recommend movies to friends on social platforms or engage in multi-user video game battle royales.

Advances in technology and service offerings are finally enabling people to move from passive to active consumption — not just of individual pieces of media, but of media as a whole. Many signs of this change are pinpointed in the Outlook. One is the trend for consumers to reject the bundles of channels offered by cable or satellite providers, and instead construct their own ad hoc bundles made up of OTT services. Global OTT revenue hit US$38.2bn in 2018, and is forecast to almost double by 2023. Another sign is the rise of the smart home, with ownership of smart speaker devices set to rise at a 38.1% CAGR to hit 440mn devices globally in 2023.

Wilson Chow, Global Technology, Media and Telecommunications Leader and Partner, PwC China, comments:

“5G’s impact will be felt across the entire technology, media and telecommunications value chain for the next decade. It will hasten existing trends towards personalisation, making it easier, more convenient and cheaper to access more media on phones and other mobile devices. Key impacts of 5G for E&M will include enabling more streaming of high-quality video — including of live events like sports and music — and better use of AI, together with massive opportunities for video games and VR in terms of speed and quality of images.”

Four priorities shaping companies’ strategies

As E&M companies reinvent their organisations and offerings for an increasingly personalised world, four priorities are coming to the fore:

  • One size does not fit all: As companies approach both markets of individuals and individual geographic markets, they are finding that it makes sense to present different options: all-you-can-eat offerings with unlimited usage in some areas, tiers of payments for different services in less developed markets, and competing on affordability. Meanwhile, across all markets — mature and developing — PwC’s research finds stark differences in terms of segment growth.
     
  • The number of consumer touch points is expanding: As media and e-commerce experiences become more personal, gratification for consumers is becoming more instant and immediate. In response, content creators and distributors are devising new ways to appeal to consumers as individuals and marketers are figuring out how to meet consumers at the point of consumption and point them instantaneously towards purchase. Witness the rise of shoppable online advertising, often promoted by ‘influencers.’ Voice is also becoming a key form of interaction for both search and shopping, supported by the rise of smart speakers.
     
  • Technolog ical innovation introduces a new era of personalised computing: Companies are leveraging AI’s ability to understand people’s individual tastes and consumption habits to offer up the content individual users find most compelling. The combination of AI with 5G will be especially powerful, as it will fuel the rapid growth of segments such as video games and VR. The Outlook forecasts show video games' compelling combination of growth and scale, while VR will be the fastest-growing segment overall. 
     
  • Trust and regulation remain pivotal, as personal data hygiene becomes key: With consumers moving to the centre of their own world of media experiences, their personal data — from the music they stream and the news they read to the products they buy — is taking a central role. In the emerging world, maintaining personal data hygiene is becoming key to the overall health of the E&M ecosystem. For companies, this goes beyond regulatory compliance, which is merely table stakes, and extends to building trust by behaving transparently and responsibly with customers’ data, ensuring the accuracy of news, and being sensitive to concerns around issues such as digital addiction.

Ennèl van Eeden, Global Entertainment and Media Leader and Partner, PwC Netherlands, comments:

“The personalisation wave — fuelled by evolving customer behaviour — is set to be amplified by the forces of technology, scale, and aggressive investing and competition. The implications for organisations are profound. As the borders separating former media silos erode, companies need to think more broadly about the areas and segments in which they operate. At the same time, all E&M players must take the need to ‘know your customer’ more seriously, and marketers need to allocate their time and attention to new types of content and platforms — influencers, live events, ads inside apps and more. Finally, companies must focus intently on their core capabilities and geographical markets, while continually scanning the horizon for new developments and regulations, and being agile in responding to technological developments such as 5G. Put simply: it’s time to get personal with consumers — or be left out of the conversation.”

Press access to Global Entertainment & Media Outlook content online
To request press access to the online Global Entertainment & Media Outlook 2019–2023 content, contact Ashley Worley at ashley.worley@pwc.com. This access will allow you to illustrate this and other media stories both by extracting detail from the Global Entertainment & Media Outlook dataset and analysis at a segment and territory level, and by creating charts on-screen that can be exported for use with your stories.

About the Global Entertainment & Media Outlook
PwC’s 20th annual edition of the Global Entertainment & Media Outlook is a comprehensive online source of global analysis for consumer and advertising spending. With like-for-like, five-year historical and five-year forecast data and commentary for 14 defined industry segments in 53 territories, the Outlook makes it easy to compare and contrast consumer and advertising spending across segments and territories. Find out more at www.pwc.com/outlook.

Segments covered by the Global Entertainment & Media Outlook
Books; Business-to-business; Cinema; Data consumption; Internet access; Internet advertising; Music, radio and podcasts; Newspapers and consumer magazines; OTT video; Out-of-home advertising; Traditional TV and home video; TV advertising; Video games and esports; Virtual reality

About Global Entertainment & Media Outlook data
Much of the content in this press release is taken from data in the Global Entertainment & Media Outlook 2019–2023. PwC continually seeks to update the online Global Entertainment & 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 & Media Outlook 2019–2023 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 158 countries with more than 250,000 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.

© 2019 PwC. All rights reserved

Om GlobeNewswire

GlobeNewswire
GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://globenewswire.com

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Følg saker fra GlobeNewswire

Registrer deg med din epostadresse under for å få de nyeste sakene fra GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra GlobeNewswire

Apellis Pharmaceuticals Presents Data from Ongoing APL-2 Phase 2 Study in Patients with Cold Agglutinin Disease and Warm Antibody Autoimmune Hemolytic Anemia at 24th European Hematology Association (EHA) Congress15.6.2019 16:00:00 CESTPressemelding

CRESTWOOD, Ky. and WALTHAM Mass., June 15, 2019 (GLOBE NEWSWIRE) -- Apellis Pharmaceuticals Inc. (Nasdaq:APLS), a clinical-stage biopharmaceutical company focused on the development of novel therapeutic compounds to treat disease through the inhibition of the complement system, today announced updated data from its Phase 2 PLAUDIT study of APL-2 in patients with autoimmune hemolytic anemia (AIHA), including cold agglutinin disease (CAD) and warm antibody autoimmune hemolytic anemia (wAIHA). Data from the PLAUDIT trial will be presented in an oral presentation today at the 24th Annual Congress of the European Hematology Association (EHA), held in Amsterdam, the Netherlands. In the ongoing PLAUDIT study, 13 patients with CAD have been enrolled to receive subcutaneous APL-2 treatment, of which 10 patients have been on APL-2 for at least 168 days. The trial has also enrolled 11 patients with wAIHA, 8 of which were Direct Antiglobulin Test (DAT) C3+ (C3+ wAIHA); 5 of the C3+ wAIHA patients

Carpenter Technology and BMT Aerospace Combine Expertise in Redesign and Production of Additively Manufactured Aerospace Component14.6.2019 15:17:00 CESTPressemelding

LE BOURGET, France, June 14, 2019 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE:CRS) and Belgium-based BMT Aerospace today announced their cooperation in the development of an additively manufactured (AM) aerospace pinion, using Carpenter Technology’s Custom 465® Stainless. BMT Aerospace and its subsidiary BMT Additive initiated the project by partnering with Carpenter Technology to produce a redesigned pinion. The redesign project was initiated to enable the benefits of additive manufacturing using high quality, printable material that would attain the high-performance expectations for the application. “BMT Aerospace strongly believes in the disruptive potential of additive manufacturing and its possibilities in aerospace,” explained Ewald Goossens, Business Unit Manager of BMT Additive. “As a small player in the market, we strongly believe in cooperation opportunities like these, where each partner can rely and build on a project, starting from its own expertise. Our spe

Immunophotonics and Clinical Laserthermia Systems Announce Immuno-Oncology Research Collaboration and Clinical Trials for Cancer Patients with Solid Tumors14.6.2019 13:00:00 CESTPressemelding

Collaboration will Combine Immunophotonics’ Proprietary Drug, IP-001, and CLS’s TRANBERG Laser Thermal Therapy System and imILT Method ST. LOUIS and LUND, Sweden, June 14, 2019 (GLOBE NEWSWIRE) -- Immunophotonics, Inc. and Clinical Laserthermia Systems, AB (STO:CLS B) (CLS) today announced they have entered into a research collaboration agreement to support a Phase 1b/2a clinical trial for cancer patients with certain solid tumor indications. The research will utilize each company’s respective products and methodologies during treatments and is intended to support early phase clinical trials facilitated by a leading clinical organization. Eligible patients with solid tumors will be treated using the locally administered CLS Immunostimulating Interstitial Laser Thermotherapy (imILT) method, followed immediately by an intratumoral injection of Immunophotonics’ lead asset, IP-001. Under the agreement, the CLS TRANBERG Laser and single-use products will be used in eligible patients enrolle

iCAD Introduces ProFound AI™ for 2D Mammography in Europe13.6.2019 14:00:00 CESTPressemelding

Company to showcase its newest artificial intelligence software solution, ProFound AI for 2D Mammography, in addition to ProFound AI for Digital Breast Tomosynthesis at the SIFEM Medical Conference in France NASHUA, N.H. and LILLE, France, June 13, 2019 (GLOBE NEWSWIRE) -- iCAD, Inc. (NASDAQ: ICAD), a global medical technology leader providing innovative cancer detection and therapy solutions, today announced the launch of ProFound AI™ for 2D Mammography in Europe. This software is the latest addition to iCAD’s deep-learning, artificial intelligence platform and follows the launch of ProFound AI™ for Digital Breast Tomosynthesis (DBT), which was CE Marked in March 2018 and FDA cleared in December 2018. ProFound AI for 2D Mammography and ProFound AI for DBT will both be featured in the iCAD exhibition booth (#24) at the Société Française d'Imagerie de la FEMme (SIFEM) medical conference from June 13-15, 2019 at the Grand Palais in Lille, France. “iCAD is at the forefront of the fight ag

Telix Pharmaceuticals and Eczacıbaşı-Monrol Sign Manufacturing and Distribution Agreement13.6.2019 13:54:00 CESTPressemelding

MELBOURNE, Australia and ISTANBUL, Turkey, June 13, 2019 (GLOBE NEWSWIRE) -- Telix Pharmaceuticals Limited (ASX.TLX) (“Telix”, the “Company”), a clinical-stage biopharmaceutical company focused on the development of diagnostic and therapeutic products based on targeted radiopharmaceuticals or “molecularly-targeted radiation” (MTR) has today announced that it has concluded a master services and distribution agreement with Eczacıbaşı-Monrol. Under the terms of the agreement, Telix has appointed Eczacıbaşı-Monrol as a radiopharmaceutical production partner and distributor in Turkey/Middle East/North Africa. Eczacıbaşı-Monrol is commercially active in more than 40 countries, including important growth territories that complement Telix’s current commercial strategy for the US and Europe. The parties will initially focus on the production and distribution of TLX250-CDx (89Zr-girentuximab) for imaging of renal cell carcinoma with Positron Emission Tomography (PET), including to support the ad

Highly Accurate Long-Read Sequencing of Human Genomes Leads to Discovery of Disease-Causing Variants13.6.2019 13:30:00 CESTPressemelding

Identification of pathogenic structural variants with SMRT Sequencing improves solve rate for rare and Mendelian diseases MENLO PARK, Calif., June 13, 2019 (GLOBE NEWSWIRE) -- While DNA sequencing tools have been useful for determining the genetic cause of many diseases, there remain a large number that are left unexplained. Recently, scientists have adopted Single Molecule, Real-Time (SMRT®) Sequencing from Pacific Biosciences of California, Inc. (Nasdaq:PACB), a leading provider of high-quality sequencing of genomes, transcriptomes and epigenomes, to study previously unsolved diseases. Many high-impact research publications report expanded variant detection in human genomes, leading to discovery of disease-causing variants and genes underlying rare and Mendelian disorders. In a Nature Communications publication, scientists report that most structural variants (SVs) and large indels are undetected in today’s human genetic studies, which likely accounts for some of the missing heritabi