Cybersecurity a Rapidly Growing Concern for Entertainment CEOs, Says Study
Sixty-six percent of chief executives say cybersecurity could threaten growth at the companies they run, according to PwC's 19th Annual Global CEO Survey.
More than a year removed from a devastating computer hack on Sony Pictures, cybersecurity is a rapidly growing concern among entertainment and media CEOs, according to a survey by PricewaterhouseCoopers.
The survey, released Friday, indicates that 66 percent of "E&M" chief executives say cybersecurity could threaten growth at the companies they run, up from 60 percent last year and 43 percent the year before that.
For its 19th Annual Global CEO Survey, PwC surveyed the opinions of 1,409 chief executives in 83 countries.
The biggest concerns of the CEOs, though, are "technological advances," with 89 percent of them identifying the category as the one most likely to "influence stakeholder expectations."
Seventy-four percent say they are concerned about new market entrants threatening their 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," says PwC in its report.
Fifty-nine percent of CEOs say their companies "will make significant changes to how they use technology to assess and deliver on wider stakeholder expectations," wrote PwC.
"Social values" are also an issue CEOs are contemplating more often, with 79 percent saying that "business success in the 21st century will be defined by more than just financial profit."
Along those lines, 54 percent of CEOs report that top talent choose their organizations because their values are aligned, and more executives are feeling the need to communicate the impact — environmentally, socially — that their companies are having on communities.