A decade into their efforts, businesses nationwide are struggling with their transitions to a digital focus.
Just 52% of businesses would rate their “digital IQ” as strong in 2017, a 10th annual survey from PwC has found — compared to 67% a year ago. And in the adoption of new technology, surveyed businesses said they’re spending about 18% of their budget on emerging tech, up just 1% from 10 years ago.
AS A SPATE of new shows from Netflix and Amazon prove that some of the best television being made streams rather than airs, TV will take a financial hit. PwC’s annual five-year forecast for entertainment and media released today has revised downward the growth rate for ad spending on television. Last year, PwC predicted advertising would increase 5.5 percent annually over the next five years; now PwC says that rate will slow to just 4 percent annually through 2019.
And those are just the global figures. In the United States, TV ad spending is growing by just a little more than 3 percent annually on average. By contrast, spending jumped 5 percent between 2013 and 2014, the most recent years that PwC makes available.
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