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CEO’s of Spotify, Disney, NexTech AR, and Snap Discuss Augmented Reality, Streaming, and the New Mega-Trends Driving Entertainment Business

CEO’s of Spotify, Disney, NexTech AR, and Snap Discuss Augmented Reality, Streaming, and the New Mega-Trends Driving Entertainment Business

NEW YORK, Oct. 13, 2020 (GLOBE NEWSWIRE) — Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: Snap (NYSE: SNAP) NexTech AR Solutions (OTC: NEXCF) (CSE: NTAR) The Walt Disney Company (NYSE: DIS), and Spotify (NYSE: SPOT).

The entertainment industry is undergoing a sea change, as new technologies upend traditional revenue and distribution models. While streaming gets even bigger, new Augmented Reality and hologram formats are emerging as “the next big thing”. Wall Street Reporter highlights the latest comments from industry thought leaders:

Snap Inc. (NYSE: SNAP) CEO Evan Spiegel: “Overlaying New Experiences on World Through Augmented Reality”

“…We are working hard to overlay new computing experiences on the world through augmented reality. And the Snap Partner Summit showcased some of our latest AR products, including Local Lenses that allow people to share augmented reality experiences together overlaid on their neighborhood cityscape, and SnapML, which empowers members of our community to bring their machine learning models directly into Lenses on Snapchat. This enabled Gucci to leverage Wannaby’s foot-tracking technology to help people try on their latest sneakers in Snapchat, and even buy them directly within the Lens. These sorts of augmented reality experiences are especially powerful in the post-COVID retail environment, where brands are investing more in virtual try-on….”

“Our community grew by 17% year-over-year, with 238 million people using Snapchat every day on average in the quarter. This continues our recent momentum in daily active user growth, with the last three quarters seeing our highest year-over-year growth rates since 2017….Adoption of our AR platform is also accelerating, with the number of people playing with Lenses every day growing by 37% year-over-year….While these uncertain times have impacted many businesses in different

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The founder of the World Economic Forum and CEOs of Bank of America and EY say ESG standards are the future of capitalism

The founder of the World Economic Forum and CEOs of Bank of America and EY say ESG standards are the future of capitalism







Klaus Schwab wearing a suit and tie: Klaus Schwab, founder and president of the World Economic Forum, WEF, championed the Big Four's new ESG framework. Salvatore Di Nolfi/Keystone via AP


© Salvatore Di Nolfi/Keystone via AP
Klaus Schwab, founder and president of the World Economic Forum, WEF, championed the Big Four’s new ESG framework. Salvatore Di Nolfi/Keystone via AP

  • On a Wednesday video conference call, Klaus Schwab, founder of the World Economic Forum, joined Bank of America CEO Brian Moynihan, and EY CEO Carmine Di Sibio to talk about the future of environmental, social, and governance standards (ESGs). 
  • Schwab said ESG standards are not a fad, and Monynihan and Di Sibio expressed hopes that more companies would adopt the newly created ESG framework. 
  • The ESG standards may become mandatory in the future, Moynihan and Di Sibio said. 
  • Visit Business Insider’s homepage for more stories.

On a video conference call Wednesday, Klaus Schwab, founder of the World Economic Forum said environmental, social, and governance standards (ESGs) will be the next step in driving stakeholder capitalism: the notion that a company is responsible to all its stakeholders, including its employees, customers, and the environment. 

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“ESGs and stakeholder capitalism are not a fad. It’s not a manifestation of business leaders to showcase their corporate social responsibility. ESGs are an integral part of business management,” Schwab said in the call hosted by Diligent Corporation. 

ESG standards are a set of criteria used to measure a company’s performance on things such as how the company is impacting the environment (like its amount of toxic emissions), how it manages relationships with its employees (does it encourage employees to volunteer), and how the company runs internally (boardroom diversity). 

The call follows a September 22 announcement by executives from the so called “Big Four” accounting firms — Deloitte, PwC, EY, and KPMG — on a new reporting framework for ESGs. A reporting framework helps companies assess their compliance to a set of metrics and report it

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