GP Bullhound：2019年第四季度全球数字媒体报告(英文版)(37页).pdf

1、0 Q4 2019 Sector Update Digital Media Important disclosures appear at the back of this report GP Bullhound LLP is authorised and regulated by the Financial Conduct Authority GP Bullhound Inc is a member of FINRA 1 Digital media perspectives GP Bullhound INVESTED IN Spotify GP Bullhound is a leading

2、technology advisory and investment firm, providing transaction advice and capital to category leaders. Our digital media practice is headed by Partner Alec Dafferner, who runs the San Francisco office and has over 20 years of experience. This digital media market report is published quarterly to pro

3、vide insights into public and private market valuations across the transaction spectrum as well as qualitative insights into broader market trends. In this report, we also feature many leading digital media companies and their CEOs. Successful GP Bullhound transactions in digital media include: delt

4、aDNA ACQUIRED BY Unity Quixel ACQUIRED BY Epic Games Innogames ACQUIRED BY Modern Times Group Fnatic INVESTMENT BY Lvl1 Group AllTrails ACQUIRED BY Spectrum Equity GamingDiversified online content GamingGamingGamingMusic, video, photos 2 Key sector takeaways CEO commentary Recent transaction trends

5、Public market analyses Appendix A: Public comparables by category Appendix B: GP Bullhound credentials and team 1 3 4 5 6 Contents 2 3 Section 1 Key sector takeaways 4 GP Bullhounds views on current trends in digital media Video: the streaming wars have peaked 1 2 3 4 Music: a full stack approach an

6、d consolidation of digital players and distribution Digital publishing: recent online publisher consolidation of private companies Games: the war of the development platforms 5 Current trends STREAMING VIDEO The competition among streaming services to attract customers and disintermediate the tradit