A study from PricewaterhouseCoopers (PwC) recently reveled that cybersecurity is a growing concern among entertainment CEOs.
According to the survey, 66 percent of entertainment & media chief executives voice a collective concern over the growth of their companies at the hands of cybersecurity threats. This number went up from 60 percent in 2015, and 43 percent the previous year. PwC surveyed over 1,400 CEOs in 83 countries.
Their biggest concern, more specifically, revolves around “technological advances” in the industry. 89 percent of all executives identified the category as the one most likely to “influence stakeholder expectations,” the data shows.
Moreover, 74 percent stated they are increasingly concerned about new market entrants interfering or threatening their companies’ growth.
“That’s more than any other industry and reflects the pressure that ubiquitous mobile devices and other new competitive threats are placing on the industry,” PwC acknowledged in their 19th Annual Global CEO Survey.
In response to such concerns, 59 percent of those surveyed promised that their companies “will make significant changes to how they use technology to assess and deliver on wider stakeholder expectations,” according to the study.
In addition, the survey revealed that social values is another subject CEOs are acknowledging more carefully, with 79% stating that “business success in the 21st century will be defined by more than just financial profit.”
More specifically, 54 percent said that talented organizations choose to work with them because their social values are a high priority and aligned with their core business model. They feel that more executives are environmentally communicating the impact that their companies have on the community.