Will Street follow boxoffice pattern? -- As the wave of quarterly earnings reports from big media and entertainment companies is set to start in earnest with Sony Corp.'s latest figures, Wall Street observers are hoping for new insight into how the much-discussed advertising, boxoffice and DVD sales trends are affecting the financial performance of sector giants. Amid much recent gloom and doom talk, as well as weak first-half stock trading momentum, however, many wonder if anything can turn investors more bullish on the sector over the near-term. According to analysts, second-quarter earnings figures from such media giants as Time Warner and Viacom Inc. are unlikely to inspire much enthusiasm, while the Walt Disney Co. and News Corp. should provide some of the strongest quarterly reports.
Across the globe, CEOs and their leadership teams continue to seek information and guidance about planned Digital Transformation initiatives and the most effective enterprise organization change management practices. Worldwide IT and Business Services revenue will grow from $1.13 trillion in 2022 to $1.2 trillion in 2023 -- that's a 5.7 percent year-over-year growth, according to the latest market study by International Data Corporation (IDC). The mid-term to long-term outlook for the market has also increased -- the five-year CAGR is forecast at 5.2 percent, compared to the previous 4.9 percent. Digital Sevices & Consulting Market Development IDC has raised the growth projection despite a weak economic outlook, because of vendor performances across 2022, growth indicators from adjacent markets, increased government funding, and inflation impacts. The actual 2022 market growth was 6.7 percent (in constant currency), which was 87 basis points higher than forecast last year, alth