KPMG’s survey reflects the responses of 101 media and telecommunications sector executives from large, U.S.-based companies with $100 million or more in annual revenue. Key findings from the 2012 media and telecommunications industry outlook survey include: More than 90 percent of the executives surveyed expect their companies to grow their activities around digital devices, services, and content distribution. Forty-eight percent of respondents expect capital spending in their company to increase over the next year, compared to 56 percent last year. According to respondents, much of this spending will likely be in the areas of new products and services (56 percent) and information technology (43 percent). Executives cite the lack of customer demand (37 percent), pricing pressures (35 percent), and the ability to stay on top of emerging technologies (29 percent) as the greatest barriers to growth over the next year. Nearly three-fourths (73 percent) of the media and communications executives surveyed expect higher revenue one year from now. Of that amount, 67 percent anticipate modest increases and 6 percent expect significantly higher revenue. The vast majority (74 percent) of executives expect cloud computing to have a moderate transformational impact on their organization over the next few years. Meanwhile, 16 percent believe it will have a significant transformational impact on their organization. More than half (66 percent) of the executives surveyed expect some improvement in economic conditions over the next year. However, 55 percent have pushed back their expectations for a full U.S. economic recovery until 2014 or later.