DOCSLIB.ORG

Digital Media | Internet Sector Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Digital Media | Internet Sector Report INTERNET & DIGITAL MEDIA SECTOR REPORT Q4 2019 EXECUTIVE SUMMARY Q4 2019 Internet & Digital Media Wrap-Up » Internet & Digital Media continues to be a highly active category, with ~$24.3Bn in M&A volume and ~$12.7Bn in financing volume during Q4 ’19 - 20 M&A transactions in Q4 ‘19 as varied as: PayPay / Honey (eCommerce); Platinum Equity / Cision (PR Software and Services); Thoma Bravo / Instructure (Learning Management Software) - 706 financings across all stages -- from seed to LBO – in Q4 ’19 consistent with the similar volume in Q4 ’18 » High-profile, billion dollar M&A deals abounded in Q4 2019, with both strategic buyers and financial sponsors driving deal activity, as they look to build out their offerings / remain competitive and deploy capital / back innovators, respectively » At the end of 2019, a record 199 VC-backed private companies are valued at greater than $1BN, compared to just 149 a year ago; these unicorns are comprised heavily of consumer-facing start-ups who raised billions in 2019, such as Airbnb, SoFi, and Juul Labs » Q4 public capital markets activity saw 20 VC-backed technology IPOs, a slight drop from the 22 that occurred in Q3. Overall, technology IPOs experienced an increase in 2019 compared to 2018 » From a trading perspective, Marketplace companies lead the public company pack, trading at 7.0x EV / ’19E Revenue and 20.9x EV/ ’19E EBITDA on average Select Q4 Active Buyers Select Q4 Active Investors Notes: Sources: Capital IQ, PitchBook, PriceWaterhouseCoopers / NVCA MoneyTree Report, Wall Street Research. 2 GCA OVERVIEW Strong Sector Expertise across Internet & Digital Media Team REPRESENTATIVE FOCUS AREAS GCA SECTOR TEAM MARKETPLACE / DIVERSIFIED MARKETING JOHN LAMBROS JOSHUA WEPMAN NEW TECHNOLOGY TECHNOLOGY Managing Director Managing Director [email protected] [email protected] +1 (212) 999-7083 +1 (212) 999-7092 INTERNET COMMERCE HR TECHNOLOGY INTERNET CONTENT SOCIAL MEDIA KEVIN WALSH CATHRYN McCARTHY SEARCH & ONLINE Managing Director Vice President GAMING ADVERTISING [email protected] [email protected] +1 (415) 318-3629 +1 (212) 999-7073 MEDIA / PUBLISHING ENTERTAINMENT RECENT TRANSACTIONS 3 GCA OVERVIEW Selected Recent Internet & Digital Media Transactions Notes: 1) The above transactions represent a compilation of past and current deals that GCA entities, including GCA Advisors, LLC, GCA Corporation, and GCA Altium, have advised on. 4 SECTION I GCA INTERNET & DIGITAL MEDIA: 2019 YEAR IN REVIEW 5 GCA INTERNET & DIGITAL MEDIA: 2019 YEAR IN REVIEW Selected Transactions Completed in 2019 6 GCA INTERNET & DIGITAL MEDIA: 2019 YEAR IN REVIEW We Advised Clients All Over the World BABY CARE ECOMMERCE TOSHO PRINTING CO., LTD. HOSPITALITY PAYMENTS APP FASHION CONTENT MARKETER 29 transactions Of these deals, ~65% ~20% of transactions completed in the were M&A while 35% included a cross- Internet / Digital were private border element Media space capital $1.3BN+ ~50% of these deals worth of M&A and had strategic buyers private capital raised while the other 50% for Internet / Digital involved financial Media clients (1) sponsors Notes: Logos represent the headquarters of target companies in the Internet & Digital Media space involved in GCA-ran processes in 2019. 1) Represents only disclosed transaction values. 7 GCA INTERNET & DIGITAL MEDIA: 2019 YEAR IN REVIEW Selected Highlighted Transactions From international mobile marketing companies to global digital brands, GCA worked with leading companies throughout 2019. Minority investment in Acquired by Acquired by Majority investment by November 2019 October 2019 October 2019 September 2019 ~$400MM Undisclosed Amount ~$300MM $83MM “CVC has a track record of “The combination with Oracle “Following a successful market “This injection of new capital successfully partnering with validates CrowdTwist’s world- entry in the UK last autumn, we unlocks tremendous growth companies to drive global class technology, employees want to continue to grow opportunities, allowing us to growth…They are the perfect and customers. We could not internationally and are reach new markets, create new partner for this next phase in have found a more delighted to have found the retail channels, and invest in our journey as we continue to compelling partner to ideal partner for this in the technologies that will serve our scale internationally…” advance our vision of industrial holding Armira.” community better.” - Tomar Bar-Zeev, CEO, IronSource customer loyalty at scale.” - Patric Fassbender, Co-Founder, Tonies - Amanda Hesser, CEO, Food52 - Scott Matthews, CEO, CrowdTwist 8 GCA INTERNET & DIGITAL MEDIA: 2019 YEAR IN REVIEW Global Trends Shaping the Industry CONTINUED RISE OF ARTIFICIAL INTELLIGENCE » AI is helping companies analyze consumer behavior and search patterns and use data from social media and online platforms to help businesses understand how customers find their products and services » Consumer-facing companies are using AI to transform their basic communication, product recommendations, content creation, email personalization, eCommerce transactions, and more IMPORTANCE OF PERSONALIZATION » Consumers are far more likely to engage with a brand that offers personalized experiences compared to generic ones » Personalization is increasingly being adopted to build loyalty and reduce churn, understand customer needs, convert visitors, and upsell / cross-sell products USER-GENERATED CONTENT 2.0 » Companies are increasingly opting for both interactive and user-generated content as a means to build stronger connections with customers » Seen as more engaging and trustworthy than traditional, company-created text-based content, quizzes and polls, AR advertising, testimonials, and customer videos are becoming especially popular as a means to reach younger target audiences EMPHASIS ON CONVERSATIONAL MARKETING » With consumers demanding “immediate” responses when doing research on products and services, businesses are turning towards conversational marketing to facilitate a one-to-one, real-time connection between themselves and their customers » Available across multiple channels, customers are better able to engage with brands on the devices, platforms, and time schedules at their own convenience » Underscoring this trend, “chatbots” are becoming a must for most businesses CAPITALIZING ON MICRO-MOMENTS » Internet & Digital Media companies are increasingly rethinking the linear marketing funnel of awareness, consideration, and decision » Instead, many businesses are opting to focus on building and achieving micro-moments, an intent-rich moment when a person turns to a device to act (“I want to know, go, do, or buy”) 9 SECTION II Q4 MARKET UPDATE 10 DEAL DASHBOARD 2,891 $54.1 Billion $96.4 Billion 62 2019 Financing Transactions (1)(2)(3) 2019 Financing Volume (1)(2)(3) 2019 M&A Volume (3)(4) 2019 M&A Transactions (3)(4) Select Q4 '19 Financing Transactions Quarterly Financing Volume ($Bn) (1)(2) Quarterly M&A Volume ($Bn) (4) Select Q4 '19 M&A Transactions Company Amount ($MM) $20 $80 $65 Acquirer Target EV ($Bn) $15 $15 $13 $13 $13 $13 $13 $500 $15 $12 $12 $60 $4.7 $35 $10 $40 $28 $30 $20 $24 $14 $17 $400 $5 $20 $13 $4.1 $0 $0 $319 $4.0 $275 Quarterly Financing Deal Count (1)(2) Quarterly M&A Deal Count $3.2 $254 $2.9 850 40 796 783 787 32 800 745 30 25 $250 20 $2.0 750 710 706 17 690 688 20 14 16 16 15 700 671 11 $200 650 10 $0.7 600 0 $200 $0.2 Last 12 Months Digital Media & Internet Price Performance (5) 165.0% 150.0% 54.8% 42.6% 33.8% 135.0% 31.2% 30.3% 29.4% 120.0% 25.2% 22.5% 22.2% 105.0% 90.0% 12/31/2018 2/28/2019 4/30/2019 6/30/2019 8/31/2019 10/31/2019 12/31/2019 Marketplace / Search / Online Media / Diversified Social Media Internet Content Internet Commerce Gaming Publishers New Technology Advertising Entertainment Marketing Notes: Sources: Capital IQ, PitchBook, PriceWaterhouseCoopers / NVCA MoneyTree Report. 1) Criteria based on U.S. internet/mobile/telecommunications Series A and subsequent rounds of financings. 2) Financings include Venture and Private Equity Growth/Expansion activity for U.S. internet/mobile/telecommunications sectors. 3) Figures reflect total transactions and volume through end of most recent quarter. 4) Criteria based on U.S. target internet/digital media M&A deals with transaction enterprise values greater than $50MM. 5) Details on companies included can be found on the following page. 11 PUBLIC COMPANY VALUATION ENTERPRISE VALUE / 2019E REVENUE ENTERPRISE VALUE / 2019E EBITDA 7.0x 20.9x 6.3x 19.7x 17.7x 16.5x 5.2x 14.2x 14.1x 13.3x 4.1x 11.5x 3.7x 3.5x 10.7x 2.8x 2.5x 2.4x Marketplace / New Social Media Search / Online Adv. Internet Content Diversified Gaming Publishers Media / Internet Commerce Marketplace / New Internet Content Internet Commerce Search / Online Adv. Social Media Publishers Gaming Diversified Media / MarketplaceEconomy Social Search / Internet DiversifiedMarketing Gaming Publishers EntertainmentMedia / Internet MarketplaceEconomy Internet Internet Search / Social Publishers Gaming DiversifiedMarketing EntertainmentMedia / / New Media Online Adv. Content Marketing Entertainment Commerce / New Content Commerce Online Adv. Media Marketing Entertainment Economy Economy INTERNET & DIGITAL MEDIA ECOSYSTEM Marketplace / Social Search / Online Internet Media / Diversified Internet Gaming Publishers New Technology Media Advertisement Content Commerce Entertainment Marketing 7.0x / 20.9x 6.3x / 14.2x 5.2x / 16.5x 4.1x / 19.7x 2.4x / 17.7x 3.5x / 13.3x 2.5 / 10.7x 2.8x / 14.1x 3.7x / 11.5x 2019E Revenue / 2019E EBITDA Multiple Notes: Source: Capital IQ. Multiples <0 and >50 considered NM. Multiples represent mean value of sector group. 12 Q4 2019 M&A DEAL DASHBOARD QUARTERLY M&A ACTIVITY(1)(2) SELECT Q4 2019 M&A TRANSACTIONS ($BN) Number of Deals M&A Volume ($MM) $65.5 Ann. Date Target Acquirer Enterprise Value 12/20 $691 12/19 $441 32 12/17 $4,677 12/16 $3,197 25 $34.5 12/4 $2,010 $29.9 20 $27.5 11/25 $4,050 17 $24.3 16 16 $20.3 15 11/20 $4,000 14 $17.3 $14.0 11 11/18 $380 $12.6 10/22 $2,878 10/22 $215 10/21 $150 Q4'17 Q1'18 Q2'18 Q3'18 Q4'18 Q1'19 Q2'19 Q3'19 Q4'19 Notes: Sources: Capital IQ, PitchBook, Wall Street Estimates.
Load more

Recommended publications
  • Digital Watermarking Based on DCT Transform
    A Survey of Digital Watermarking Technologies Lin Liu [email protected] Abstract: This report introduces the basic concepts in digital watermarking. Common watermarking technologies are reviewed. Some experiment results are provided as well. Index Terms: Digital watermarking, copyright protection 1. INTRODUCTION During the past decade, with the development of information digitalization and internet, digital media increasingly predominate over traditional analog media. However, as one of the concomitant side-effects, it is also becoming easier for some individual or group to copy and transmit digital products without the permission of the owner. The digital watermark is then introduced to solve this problem. Covering many subjects such as signal processing, communication theory and Encryption, the research in digital watermark is to provide copyright protection to digital products, and to prevent and track illegal copying and transmission of them. Watermarking is embedding information, which is able to show the ownership or track copyright intrusion, into the digital image, video or audio. Its purpose determines that the watermark should be indivisible and robust to common processing and attack. Currently the digital watermarking technologies can be divided into two categories by the embedding position——spatial domain and transform domain watermark. Spatial domain techniques developed earlier and is easier to implement, but is limited in robustness, while transform domain techniques, which embed watermark in the host’s transform domain, is more sophisticated and robust. With the development of digital watermarking, spatial techniques, due to their weakness in robustness, are generally abandoned, and frequency algorithm based on DCT or DWT becomes the research focus. Another tendency in watermarking is blind extraction, which means the host is not need when extracting the watermark; otherwise it is hard to avoid the multiple claims of ownerships.
    [Show full text]
  • DIGITAL Media Players Have MEDIA Evolved to Provide PLAYERS a Wide Range of Applications and Uses
    2011-2012 Texas 4-H Study Guide - Additional Resources DigitalDIGITAL media players have MEDIA evolved to provide PLAYERS a wide range of applications and uses. They come in a range of shapes and sizes, use different types of memory, and support a variety of file formats. In addition, digital media players interface differently with computers as well as the user. Consideration of these variables is the key in selecting the best digital media player. In this case, one size does not fit all. This guide is intended to provide you, the consumer, with information that will assist you in making the best choice. Key Terms • Digital Media Player – a portable consumer electronic device that is capable of storing and playing digital media. The data is typically stored on a hard drive, microdrive, or flash memory. • Data – information that may take the form of audio, music, images, video, photos, and other types of computer files that are stored electronically in order to be recalled by a digital media player or computer • Flash Memory – a memory chip that stores data and is solid-state (no moving parts) which makes it much less likely to fail. It is generally very small (postage stamp) making it lightweight and requires very little power. • Hard Drive – a type of data storage consisting of a collection of spinning platters and a roving head that reads data that is magnetically imprinted on the platters. They hold large amounts of data useful in storing large quantities of music, video, audio, photos, files, and other data. • Audio Format – the file format in which music or audio is available for use on the digital media player.
    [Show full text]
  • Digital Media: Rise of On-Demand Content 2 Contents
    Digital Media: Rise of On-demand Content www.deloitte.com/in 2 Contents Foreword 04 Global Trends: Transition to On-Demand Content 05 Digital Media Landscape in India 08 On-demand Ecosystem in India 13 Prevalent On-Demand Content Monetization Models 15 On-Demand Content: Music Streaming 20 On-Demand Content: Video Streaming 28 Conclusion 34 Acknowledgements 35 References 36 3 Foreword Welcome to the Deloitte’s point of view about the rise key industry trends and developments in key sub-sectors. of On-demand Content consumption through digital In some cases, we seek to identify the drivers behind platforms in India. major inflection points and milestones while in others Deloitte’s aim with this point of view is to catalyze our intent is to explain fundamental challenges and discussions around significant developments that may roadblocks that might need due consideration. We also require companies or governments to respond. Deloitte aim to cover the different monetization methods that provides a view on what may happen, what could likely the players are experimenting with in the evolving Indian occur as a consequence, and the likely implications for digital content market in order to come up with the various types of ecosystem players. most optimal operating model. This publication is inspired by the huge opportunity Arguably, the bigger challenge in identification of the Hemant Joshi presented by on-demand content, especially digital future milestones about this evolving industry and audio and video in India. Our objective with this report ecosystem is not about forecasting what technologies is to analyze the key market trends in past, and expected or services will emerge or be enhanced, but in how they developments in the near to long-term future which will be adopted.
    [Show full text]
  • Technology, Media and Telecommunications Review
    Telecommunications Review Telecommunications the Technology, Media and and Media Technology, Technology, Media and Telecommunications Review Eleventh Edition Editor Matthew T Murchison Eleventh Edition lawreviews © 2020 Law Business Research Ltd Technology, Media and Telecommunications Review Eleventh Edition Reproduced with permission from Law Business Research Ltd This article was first published in December 2020 For further information please contact [email protected] Editor Matthew T Murchison lawreviews © 2020 Law Business Research Ltd PUBLISHER Tom Barnes SENIOR BUSINESS DEVELOPMENT MANAGER Nick Barette BUSINESS DEVELOPMENT MANAGER Joel Woods SENIOR ACCOUNT MANAGERS Pere Aspinall, Jack Bagnall ACCOUNT MANAGERS Olivia Budd, Katie Hodgetts, Reece Whelan PRODUCT MARKETING EXECUTIVE Rebecca Mogridge RESEARCH LEAD Kieran Hansen EDITORIAL COORDINATOR Gavin Jordan PRODUCTION AND OPERATIONS DIRECTOR Adam Myers PRODUCTION EDITOR Anna Andreoli SUBEDITOR Martin Roach CHIEF EXECUTIVE OFFICER Nick Brailey Published in the United Kingdom by Law Business Research Ltd, London Meridian House, 34–35 Farringdon Street, London, EC4A 4HL, UK © 2020 Law Business Research Ltd www.TheLawReviews.co.uk No photocopying: copyright licences do not apply. The information provided in this publication is general and may not apply in a specific situation, nor does it necessarily represent the views of authors’ firms or their clients. Legal advice should always be sought before taking any legal action based on the information provided. The publishers
    [Show full text]
  • How Will Technology, Media, and Telecommunications Companies Prepare for Further Disruption Ii at a Glance
    Streaming the future How will technology, media, and telecommunications companies prepare for further disruption ii At a glance Perhaps no other development in recent history Bottom line: It is hard to predict how things will has transformed the business landscape as look just a few years from now. To better envision much as the Internet. In less than two decades, the future, PwC has analyzed the key uncertainties life without the Internet has become almost facing TMT companies and developed a series unimaginable. And yet, recent international court of scenarios for what the playing field might look cases and the policymaking of some governments under different circumstances. These scenarios make the future of the Internet as we now know can help industry participants and investors to it less than certain. navigate the future. A handful of technology, media, and telecommu- We start with a contextual assessment of the forces nications (TMT) companies have come to dominate of change affecting TMT companies (page 2), various aspects of the Internet, including access, then explore two uncertainties that will have search, social networking, on-line shopping, a profound impact on how TMT companies grow the sharing economy, advertising, and content and compete over the coming decade (page 6), creation and distribution. These players were assess the scenarios uncovered by those able to enter the market with unique offerings uncertainties (page 10), and finally, describe the or business models, quickly shaking up industry implications of those scenarios (page 17). after industry. These disruptors appear to have a stronghold in their chosen markets, but ongoing innovation in the Internet space continues to usher in new businesses that could well end up disrupting the disruptors.
    [Show full text]
  • Embedding and Extracting Digital Watermark Based on DCT Algorithm
    Journal of Computer and Communications, 2018, 6, 287-298 http://www.scirp.org/journal/jcc ISSN Online: 2327-5227 ISSN Print: 2327-5219 Embedding and Extracting Digital Watermark Based on DCT Algorithm Haiming Li, Xiaoyun Guo School of Computer Science and Technology, Shanghai University of Electric Power, Shanghai, China How to cite this paper: Li, H.M. and Guo, Abstract X.Y. (2018) Embedding and Extracting Dig- ital Watermark Based on DCT Algorithm. The principle of digital watermark is the method of adding digital watermark Journal of Computer and Communications, in the frequency domain. The digital watermark hides the watermark in digi- 6, 287-298. tal media, such as image, voice, video, etc., so as to realize the functions of https://doi.org/10.4236/jcc.2018.611026 copyright protection, and identity recognition. DCT for Discrete Cosine Received: September 15, 2018 Transform is used to transform the image pixel value and the frequency do- Accepted: November 25, 2018 main coefficient matrix to realize the embedding and extracting of the blind Published: November 28, 2018 watermark in the paper. After success, the image is attacked by white noise Copyright © 2018 by authors and and Gaussian low-pass filtering. The result shows that the watermark signal Scientific Research Publishing Inc. embedded based on the DCT algorithm is relatively robust, and can effective- This work is licensed under the Creative ly resist some attack methods that use signal distortion to destroy the water- Commons Attribution International mark, and has good robustness and imperceptibility. License (CC BY 4.0). http://creativecommons.org/licenses/by/4.0/ Keywords Open Access Digital Watermark, DCT Algorithm, White Noise, Gaussian Low-Pass Filtering, Robustness, Imperceptibility 1.
    [Show full text]
  • Digital Media Technology
    MCC-1011A Digital Media Technology A.A.S. Degree (A25210) Certificate (C25210) Business Technologies The Digital Media program prepares students for entry-level jobs in the digital design and multimedia industry. Students learn to synthesize multimedia, hypertext, computer programming, Job Outlook information architecture, and client/server technologies using both Internet and non-network- According to the U.S. Department of Labor's based media. Occupational Outlook Handbook, “Employment of web developers is Students develop skills in communication, critical thinking, and problem solving as well as interface projected to grow 20 percent from 2012 to design, multimedia formats, application programming, data architecture, and client/server 2022, faster than the average for all technologies. The program develops technical skills through practical applications that employ occupations. Demand will be driven by the current and emerging standards and technologies. growing popularity of mobile devices and Graduates should qualify for employment as web designers, graphic artists/designers, multimedia ecommerce.” specialists, web developers, web content specialists, media specialists, information specialists, Source: Bureau of Labor Statistics, U.S. Department of Labor, digital media specialists, animation specialists, interface designers, and many new jobs yet to be Occupational Outlook Handbook, 2014-15 Edition, Web defined in this expanding field. Developers, on the Internet at http://www.bls.gov/ooh/ computer-and-information-technology/web-developers.htm
    [Show full text]
  • G. Resolution to Establish School of Communication Digital Media
    RESOLUTION TO ESTABLISH THE SCHOOL OF COMMUNICATION AND DIGITAL MEDIA IN THE COLLEGE OF LIBERAL ARTS AND HUMAN SCIENCES WHEREAS, the domain of communication has grown in terms of specialization, expertise, disciplinary areas, and methodologies; and WHEREAS, a School of Communication and Digital Media will enhance the university’s ability to create, convey, and apply knowledge that expands personal growth and understanding of human communication, improves media practice, and broadens media literacy among voters and other media consumers; and WHEREAS, a School of Communication and Digital Media will advance social and community development through ethical news and sports reporting, advertising, corporate communication, and public relations and foster economic competitiveness through industry- related majors in advertising, communication science and social inquiry, digital media production, multimedia journalism, sports media and analytics, professional communication, and public relations; and WHEREAS, a School of Communication and Digital Media will align curriculum resources more efficiently and allow more coordinated and strategic investment of resources within the college and university in communication and digital-media instruction; and WHEREAS, a School of Communication and Digital Media will more closely align the communication programs with national, institutional, and SCHEV peers that have colleges or schools of communication, journalism, or media; and WHEREAS, a School of Communication and Digital Media supports the land-grant
    [Show full text]
  • A Cross- Sectional Study Among Switzerland-Based Occupational
    Does Therapy Always Need Touch? - A cross- sectional study among Switzerland-based occupational therapists and midwives regarding their experience with health care at a distance during the COVID-19 pandemic in Spring 2020 Verena Klamroth ( [email protected] ) ZHAW: Zurcher Hochschule fur Angewandte Wissenschaften https://orcid.org/0000-0002-8944-792X Michael Gemperle ZHAW: Zurcher Hochschule fur Angewandte Wissenschaften Thomas Ballmer ZHAW: Zurcher Hochschule fur Angewandte Wissenschaften Susanne Grylka-Baeschlin ZHAW: Zurcher Hochschule fur Angewandte Wissenschaften Jessica Pehlke-Milde ZHAW: Zurcher Hochschule fur Angewandte Wissenschaften Brigitte Gantschnig ZHAW: Zurcher Hochschule fur Angewandte Wissenschaften Research article Keywords: Tele-health, tele-care, tele-rehabilitation, tele-monitoring health professions, video-telephony, technology acceptance, occupational therapy, midwifery Posted Date: November 6th, 2020 DOI: https://doi.org/10.21203/rs.3.rs-103168/v1 License: This work is licensed under a Creative Commons Attribution 4.0 International License. Read Full License Page 1/19 Abstract Background: The COVID-19 pandemic impedes therapy and care activities. Health care at a distance (HCD) is a promising way to ll the supply gap. However, facilitators and barriers inuence the use and experience of HCD in occupational therapists (OTs) and midwives. We identied use of services and appraisal of experiences of Switzerland-based OTs and midwives regarding the provision of HCD during the lockdown as it pertains to the COVID-19 pandemic in spring 2020. 1. Hypothesis: Profession, age in years, and area of work have a signicant and meaningful inuence over whether HCD is provided. 2. Hypothesis: Profession, age in years, area of work, possibility of reimbursement by health insurance, and application used have a signicant and meaningful inuence on the experience of HCD.
    [Show full text]
  • Singular Value Decomposition and Discrete Cosine Transform Based Image Watermarking
    Master Thesis Computer Science Thesis no: MCS-2008:8 January 23, 2008 Singular Value Decomposition and Discrete Cosine Transform Based Image Watermarking S.M. Rafizul Haque Department of Interaction and System Design School of Engineering Blekinge Institute of Technology Box 520 SE – 372 25 Ronneby Sweden This thesis is submitted to the Department of Interaction and System Design, School of Engineering at Blekinge Institute of Technology in partial fulfillment of the requirements for the degree of Master of Science in Computer Science. The thesis is equivalent to 20 weeks of full time studies. Contact Information: Author: S.M. Rafizul Haque E-mail: [email protected] Advisor(s): Guohua Bai Email: [email protected] Department of Interaction and System Design Department of Internet : www.bth.se/tek Interaction and System Design Phone : +46 457 38 50 00 Blekinge Institute of Technology Fax : + 46 457 102 45 Box 520 SE – 372 25 Ronneby Sweden ii Acknowledgement I would like to express my sincere and heartiest gratitude to my honorable supervisor Dr. Guohua Bai for his continuous help, guidance, constant support and enduring patience throughout the progress of this thesis. I would like to extend my special appreciation and gratitude to my parents and my friends for their encouragement, endless love and understanding of my spending lots of time on this work iii Abstract Rapid evolution of digital technology has improved the ease of access to digital information enabling reliable, faster and efficient storage, transfer and processing of digital data. It also leads to the consequence of making the illegal production and redistribution of digital media easy and undetectable.
    [Show full text]
  • Digital Media | Internet Sector Report
    INTERNET & DIGITAL MEDIA SECTOR REPORT Q3 2019 EXECUTIVE SUMMARY Q3 2019 Internet & Digital Media Wrap-Up » Internet & Digital Media continues to be a highly active category, with ~$34.5Bn in M&A volume (including the $20.9Bn Viacom-CBS merger) and ~$12.9Bn in financing volume during Q3 ’19 - 15 M&A transactions in Q3 ‘19 as varied as: Vista / Acquia (CMS); Prudential / Assurance (Insuretech); Vox / New York Magazine; Hasbro / eONE - 688 financings across all stages -- from seed to LBO – in Q3 ’19 consistent with the similar volume in Q3 ’18 » Financial sponsor-backed M&A and financing activity remains healthy in the category as firms look to deploy capital and back innovators and market leaders, especially leading digital brands - Vista Equity continues its strong pace of investment with its purchase of Acquia, an open digital experience company, in its third billion dollar deal in the last 12 months - Growth equity investment continued in Q3 including Sequoia’s investments in Stripe and Thumbtack and TCG’s investment in Food52 » Q3 public capital markets activity saw 22 VC-backed IPOs, dominated by technology-based D2C companies including Peleton and SmileDirectClub; the number of VC-backed U.S. unicorns remains at a record high » From a trading perspective, Marketplace companies lead the public company pack, trading at 7.1x EV / ’19E Revenue and 21.3x EV/ ’19E EBITDA on average Select Q3 Active Buyers Select Q3 Active Investors TCG Notes: Sources: Capital IQ, PitchBook, PriceWaterhouseCoopers / NVCA MoneyTree Report, Wall Street Research.
    [Show full text]
  • Cuba's Digital Revolution Citizen Innovationand State Policy Edited by Ted A
    Cuba's Digital Revolution Citizen Innovationand State Policy Edited by Ted A. Henken and Sara Garcia Santamaria "An important contribution to the study of the Cuban media landscape. Cuba's Digital Revolution examines changes brought about by recent expansion of Wi-Fi access points through attention to how independent journalism, media distribution, activism, entrepreneurship, and media culture are developing alongside local and global technological and political changes:'-Cristina Venegas, author of Digital Dilemmas: The State, the Individual, and Digital Media in Cuba The triumph of the Cuban Revolution gave the Communist Party a monopoly over both politics and the mass media. However, with the subsequent global proliferation of new information and communication technologies, Cuban citizens have become active participants in the worldwide digital revolution. While the Cuban internet has long been characterized by censorship, high costs, slow speeds, and limited access, this volume argues that since 2013, technological developments have allowed for a fundamental reconfigurationof the cultural, economic, social, and political spheres of the Revolutionary project. The essays in this volume cover various transformations within this new digital 352 pp. I 6.125x9.25 revolution, examining both government-enabled paid public web access as well as Hardcover $95.00 creative workarounds that Cubans have designed to independently produce, ISBN 9781683402022 distribute, and access digital content. Contributors trace how media ventures, entrepreneurship, on line marketing, journalism, and cultural e-zines have been Available in June developing on the island alongside global technological and geopolitical changes. $45 with code CUBA21 through March 15, 2021 As Cuba continues to expand internet access and as citizens challenge state policies on the speed, breadth, and freedom of that access, Cuba's Digital Revolution Order at upress.ufl.eduor call provides a fascinating example of the impact of technology in authoritarian states 800.226.3822 and transitional democracies.
    [Show full text]